Janney Montgomery Scott upgraded shares of Chesapeake Utilities (NYSE:CPK) from a neutral rating to a buy rating in a research note released on Friday morning, Marketbeat.com reports. Janney Montgomery Scott currently has $86.00 price objective on the utilities provider’s stock. The analysts noted that the move was a valuation call.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Chesapeake Utilities from a hold rating to a buy rating and set a $91.00 price target on the stock in a report on Monday, August 13th. ValuEngine upgraded Chesapeake Utilities from a hold rating to a buy rating in a research note on Friday, August 17th. Finally, Wells Fargo & Co boosted their target price on Chesapeake Utilities from $86.00 to $88.00 and gave the stock a hold rating in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Chesapeake Utilities currently has a consensus rating of Hold and a consensus target price of $88.33.
Shares of NYSE:CPK traded up $0.93 on Friday, reaching $80.43. The company had a trading volume of 517 shares, compared to its average volume of 64,523. Chesapeake Utilities has a 52-week low of $66.35 and a 52-week high of $93.09. The company has a market capitalization of $1.30 billion, a PE ratio of 27.51, a P/E/G ratio of 3.87 and a beta of 0.09. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48.
Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a net margin of 9.68% and a return on equity of 10.75%. The company had revenue of $136.66 million during the quarter, compared to analysts’ expectations of $140.85 million. Research analysts predict that Chesapeake Utilities will post 3.42 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd grew its stake in Chesapeake Utilities by 16.5% during the 3rd quarter. WINTON GROUP Ltd now owns 4,857 shares of the utilities provider’s stock worth $408,000 after buying an additional 688 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Chesapeake Utilities during the 3rd quarter worth $263,000. Wells Fargo & Company MN grew its stake in Chesapeake Utilities by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 91,083 shares of the utilities provider’s stock worth $7,641,000 after buying an additional 1,248 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Chesapeake Utilities during the 3rd quarter worth about $2,273,000. Finally, Tufton Capital Management lifted its position in Chesapeake Utilities by 1.4% during the 3rd quarter. Tufton Capital Management now owns 108,179 shares of the utilities provider’s stock worth $9,076,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 63.74% of the company’s stock.
About Chesapeake Utilities
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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