Shares of Chesapeake Utilities Co. (NYSE:CPK – Get Rating) saw unusually-high trading volume on Wednesday after Wells Fargo & Company raised their price target on the stock from $110.00 to $115.00. Approximately 10,197 shares traded hands during mid-day trading, a decline of 85% from the previous session's volume of 66,602 shares.The stock last traded at $120.13 and had previously closed at $119.93.

CPK has been the topic of several other reports. StockNews.com started coverage on Chesapeake Utilities in a report on Wednesday, October 12th. They issued a "hold" rating on the stock. Guggenheim reduced their price objective on Chesapeake Utilities from $136.00 to $120.00 in a research note on Monday, October 24th.

Insider Activity

In related news, CEO Jeffry M. Householder sold 3,200 shares of the business's stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $129.62, for a total value of $414,784.00. Following the completion of the sale, the chief executive officer now owns 39,055 shares in the company, valued at $5,062,309.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lila A. Jaber purchased 421 shares of the business's stock in a transaction on Monday, November 28th. The shares were bought at an average cost of $118.06 per share, with a total value of $49,703.26. Following the transaction, the director now owns 2,968 shares of the company's stock, valued at $350,402.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffry M. Householder sold 3,200 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $129.62, for a total value of $414,784.00. Following the sale, the chief executive officer now directly owns 39,055 shares in the company, valued at $5,062,309.10. The disclosure for this sale can be found here. Insiders own 2.58% of the company's stock.

Institutional Investors Weigh In On Chesapeake Utilities

Chesapeake Utilities Price Performance

The stock has a market capitalization of $2.10 billion, a PE ratio of 24.30 and a beta of 0.59. The stock's 50 day moving average is $117.11 and its two-hundred day moving average is $124.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.45 and a current ratio of 0.51.

Chesapeake Utilities (NYSE:CPK – Get Rating) last released its earnings results on Wednesday, November 2nd. The utilities provider reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.21). Chesapeake Utilities had a return on equity of 10.59% and a net margin of 13.21%. The business had revenue of $131.05 million during the quarter, compared to analysts' expectations of $126.50 million. On average, equities analysts anticipate that Chesapeake Utilities Co. will post 4.86 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, December 14th. Chesapeake Utilities's dividend payout ratio (DPR) is 44.03%.

About Chesapeake Utilities

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

Further Reading

• Get a free copy of the StockNews.com research report on Chesapeake Utilities (CPK)
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