Shares of Chesapeake Utilities Co. (NYSE:CPK) have been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $100.67.
Several brokerages have issued reports on CPK. Zacks Investment Research downgraded shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $93.00 price objective on shares of Chesapeake Utilities in a research report on Thursday, April 30th. Wells Fargo & Co decreased their price target on shares of Chesapeake Utilities from $93.00 to $87.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. TheStreet raised shares of Chesapeake Utilities from a “c+” rating to a “b-” rating in a research report on Friday, May 15th. Finally, Maxim Group reissued a “buy” rating and set a $115.00 price target on shares of Chesapeake Utilities in a research report on Friday, May 8th.
NYSE:CPK traded up $1.30 during trading hours on Tuesday, hitting $84.00. The stock had a trading volume of 932 shares, compared to its average volume of 128,666. The company has a current ratio of 0.28, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. Chesapeake Utilities has a 1-year low of $69.47 and a 1-year high of $101.29. The business has a 50 day simple moving average of $86.77 and a two-hundred day simple moving average of $90.74. The company has a market cap of $1.32 billion, a PE ratio of 21.19 and a beta of 0.27.
Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.03. Chesapeake Utilities had a net margin of 12.87% and a return on equity of 10.77%. The company had revenue of $152.71 million during the quarter, compared to the consensus estimate of $181.90 million. Research analysts expect that Chesapeake Utilities will post 4.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, June 12th. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.10%. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.09%.
In related news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $91.00, for a total transaction of $227,500.00. Company insiders own 3.14% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CPK. Victory Capital Management Inc. lifted its stake in Chesapeake Utilities by 49.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,585 shares of the utilities provider’s stock worth $537,000 after purchasing an additional 1,844 shares during the last quarter. Swiss National Bank lifted its stake in Chesapeake Utilities by 1.6% in the fourth quarter. Swiss National Bank now owns 31,350 shares of the utilities provider’s stock valued at $3,004,000 after buying an additional 500 shares during the last quarter. State Street Corp lifted its stake in Chesapeake Utilities by 4.8% in the fourth quarter. State Street Corp now owns 362,802 shares of the utilities provider’s stock valued at $34,912,000 after buying an additional 16,768 shares during the last quarter. Sei Investments Co. lifted its stake in Chesapeake Utilities by 12.8% in the fourth quarter. Sei Investments Co. now owns 6,718 shares of the utilities provider’s stock valued at $640,000 after buying an additional 761 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Chesapeake Utilities by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 130,994 shares of the utilities provider’s stock valued at $12,554,000 after buying an additional 4,936 shares during the last quarter. Hedge funds and other institutional investors own 68.23% 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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