Chesapeake Utilities (NYSE:CPK) Stock Price Down 2.4%

Chesapeake Utilities Co. (NYSE:CPK)’s stock price fell 2.4% during mid-day trading on Monday . The company traded as low as $91.43 and last traded at $91.43. 1,488 shares changed hands during trading, a decline of 99% from the average session volume of 103,097 shares. The stock had previously closed at $93.66.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CPK shares. LADENBURG THALM/SH SH started coverage on shares of Chesapeake Utilities in a report on Thursday, October 12th. They set a “buy” rating and a $100.00 price target on the stock. TheStreet downgraded shares of Chesapeake Utilities from a “b-” rating to a “c+” rating in a report on Friday, October 6th. Royal Bank of Canada cut their price target on shares of Chesapeake Utilities from $124.00 to $117.00 and set a “sector perform” rating on the stock in a report on Monday, October 2nd. Guggenheim dropped their target price on shares of Chesapeake Utilities from $112.00 to $99.00 in a report on Monday, October 9th. Finally, Wells Fargo & Company upgraded shares of Chesapeake Utilities from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $115.00 to $100.00 in a report on Monday, October 16th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $104.00.

Chesapeake Utilities Stock Down 1.0 %

The firm’s fifty day moving average is $96.19 and its 200 day moving average is $111.67. The company has a current ratio of 0.48, a quick ratio of 0.39 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.65 billion, a P/E ratio of 18.96 and a beta of 0.60.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.36 annualized dividend and a dividend yield of 2.54%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 47.77%.

Institutional Trading of Chesapeake Utilities

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Chesapeake Utilities by 17.8% during the second quarter. BlackRock Inc. now owns 2,900,232 shares of the utilities provider’s stock worth $345,128,000 after purchasing an additional 438,569 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Chesapeake Utilities during the second quarter worth approximately $18,219,000. JPMorgan Chase & Co. increased its stake in Chesapeake Utilities by 37.1% in the first quarter. JPMorgan Chase & Co. now owns 262,099 shares of the utilities provider’s stock valued at $33,546,000 after purchasing an additional 70,943 shares in the last quarter. Norges Bank bought a new stake in Chesapeake Utilities in the fourth quarter valued at approximately $6,750,000. Finally, Citadel Advisors LLC increased its stake in Chesapeake Utilities by 227.6% in the second quarter. Citadel Advisors LLC now owns 80,446 shares of the utilities provider’s stock valued at $10,422,000 after purchasing an additional 55,891 shares in the last quarter. 74.80% of the stock is currently owned by institutional investors and hedge funds.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.