Chesapeake Utilities Co. (NYSE:CPK) SVP Kevin J. Webber Sells 540 Shares

Chesapeake Utilities Co. (NYSE:CPK – Get Rating) SVP Kevin J. Webber sold 540 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $129.00, for a total transaction of $69,660.00. Following the completion of the sale, the senior vice president now directly owns 7,453 shares of the company’s stock, valued at $961,437. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Chesapeake Utilities Stock Performance

CPK stock traded down $1.01 during mid-day trading on Friday, reaching $128.43. 290,082 shares of the stock traded hands, compared to its average volume of 85,923. The firm has a market capitalization of $2.28 billion, a PE ratio of 25.43 and a beta of 0.59. The business has a 50-day moving average of $124.12 and a two-hundred day moving average of $121.29. Chesapeake Utilities Co. has a 52 week low of $105.79 and a 52 week high of $142.39. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 0.69.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.14 annualized dividend and a yield of 1.67%. Chesapeake Utilities’s payout ratio is 42.38%.

Institutional Trading of Chesapeake Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPK. Raymond James & Associates boosted its position in shares of Chesapeake Utilities by 2.1% in the first quarter. Raymond James & Associates now owns 3,965 shares of the utilities provider’s stock valued at $546,000 after acquiring an additional 83 shares during the period. Legacy Wealth Asset Management LLC grew its position in Chesapeake Utilities by 1.9% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 4,558 shares of the utilities provider’s stock worth $539,000 after purchasing an additional 86 shares during the last quarter. Intrust Bank NA increased its holdings in shares of Chesapeake Utilities by 1.4% during the 2nd quarter. Intrust Bank NA now owns 6,270 shares of the utilities provider’s stock worth $812,000 after purchasing an additional 89 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Chesapeake Utilities by 0.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 18,819 shares of the utilities provider’s stock valued at $2,224,000 after buying an additional 90 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in shares of Chesapeake Utilities by 1.7% in the third quarter. New York State Teachers Retirement System now owns 5,857 shares of the utilities provider’s stock valued at $676,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 74.23% of the company’s stock.

Analysts Set New Price Targets

CPK has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Chesapeake Utilities from $110.00 to $115.00 in a research note on Wednesday, December 14th. Guggenheim boosted their price target on Chesapeake Utilities from $112.00 to $116.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 8th. Royal Bank of Canada increased their price objective on Chesapeake Utilities from $131.00 to $133.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, StockNews.com assumed coverage on Chesapeake Utilities in a report on Thursday. They issued a “hold” rating for the company.

Chesapeake Utilities Company Profile

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Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.