Chesapeake Utilities Co. (CPK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Chesapeake Utilities Co. (NYSE:CPK) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $87.00.

A number of research firms have recently issued reports on CPK. ValuEngine raised shares of Chesapeake Utilities from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Janney Montgomery Scott downgraded shares of Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research note on Monday, September 24th. Zacks Investment Research downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Wells Fargo & Co boosted their price target on shares of Chesapeake Utilities from $86.00 to $88.00 and gave the company a “hold” rating in a research note on Monday, September 24th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tortoise Index Solutions LLC increased its stake in Chesapeake Utilities by 14.3% during the 2nd quarter. Tortoise Index Solutions LLC now owns 8,564 shares of the utilities provider’s stock worth $685,000 after buying an additional 1,072 shares during the period. AdvisorNet Financial Inc increased its stake in Chesapeake Utilities by 2,424.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock worth $115,000 after buying an additional 1,382 shares during the period. Swiss National Bank increased its stake in Chesapeake Utilities by 5.2% during the 2nd quarter. Swiss National Bank now owns 28,450 shares of the utilities provider’s stock worth $2,275,000 after buying an additional 1,400 shares during the period. Tufton Capital Management increased its stake 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 buying an additional 1,500 shares during the period. Finally, Summit Global Investments increased its stake in Chesapeake Utilities by 26.1% during the 2nd quarter. Summit Global Investments now owns 8,700 shares of the utilities provider’s stock worth $696,000 after buying an additional 1,800 shares during the period. 63.50% of the stock is currently owned by hedge funds and other institutional investors.



Shares of Chesapeake Utilities stock traded down $1.18 on Friday, reaching $80.92. The company had a trading volume of 39,800 shares, compared to its average volume of 59,888. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 3.97 and a beta of -0.01. Chesapeake Utilities has a 52-week low of $66.35 and a 52-week high of $93.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.30.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The company had revenue of $136.66 million during the quarter, compared to analysts’ expectations of $140.85 million. Chesapeake Utilities had a net margin of 9.68% and a return on equity of 10.75%. Equities analysts expect that Chesapeake Utilities will post 3.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 14th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Thursday, September 13th. Chesapeake Utilities’s dividend payout ratio (DPR) is 51.21%.

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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