Chesapeake Utilities (NYSE:CPK) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Chesapeake Utilities Corporation (NYSE:CPK)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $128.40 and traded as high as $129.84. Chesapeake Utilities shares last traded at $128.9550, with a volume of 90,218 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CPK shares. BTIG Research assumed coverage on Chesapeake Utilities in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Barclays set a $141.00 price objective on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Wall Street Zen cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Chesapeake Utilities currently has a consensus rating of “Moderate Buy” and an average price target of $141.00.

Chesapeake Utilities Trading Down 0.7%

The stock has a market capitalization of $3.05 billion, a P/E ratio of 22.82 and a beta of 0.79. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $126.48 and a two-hundred day moving average price of $128.40.

Insider Activity

In other news, COO Jeffery S. Sylvester sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $137.08, for a total value of $137,080.00. Following the completion of the transaction, the chief operating officer directly owned 11,916 shares in the company, valued at approximately $1,633,445.28. The trade was a 7.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffry M. Householder sold 1,908 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $125.83, for a total transaction of $240,083.64. Following the sale, the chief executive officer directly owned 51,916 shares of the company’s stock, valued at approximately $6,532,590.28. This trade represents a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,500 shares of company stock valued at $2,355,265 in the last ninety days. 1.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC bought a new stake in Chesapeake Utilities during the second quarter worth $26,000. JFS Wealth Advisors LLC raised its holdings in shares of Chesapeake Utilities by 1,909.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock worth $27,000 after buying an additional 210 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Chesapeake Utilities by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after buying an additional 164 shares during the last quarter. Finally, Entrust Financial LLC acquired a new stake in Chesapeake Utilities in the fourth quarter valued at about $37,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

About Chesapeake Utilities

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.