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
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
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.
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