Chesapeake Utilities Co. (NYSE:CPK) Receives Average Rating of “Moderate Buy” from Brokerages

Chesapeake Utilities Co. (NYSE:CPK) has been assigned a consensus rating of “Moderate Buy” from the four brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $109.80.

Several research analysts have commented on the company. Royal Bank of Canada lifted their price target on Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Wells Fargo & Company boosted their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Barclays initiated coverage on Chesapeake Utilities in a report on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 target price on the stock.

Institutional Trading of Chesapeake Utilities

Institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. boosted its position in Chesapeake Utilities by 308.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 286 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 216 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Chesapeake Utilities during the fourth quarter worth $30,000. Fortis Group Advisors LLC boosted its position in Chesapeake Utilities by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 146 shares in the last quarter. Principal Securities Inc. purchased a new stake in Chesapeake Utilities during the fourth quarter worth $41,000. Finally, Spirit of America Management Corp NY lifted its position in shares of Chesapeake Utilities by 60.0% in the fourth quarter. Spirit of America Management Corp NY now owns 400 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 150 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Trading Down 1.0 %

CPK opened at $106.23 on Monday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 22.32 and a beta of 0.61. Chesapeake Utilities has a 52 week low of $83.79 and a 52 week high of $124.72. The business’s 50 day moving average is $108.28 and its two-hundred day moving average is $105.18. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.93.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.04). The firm had revenue of $245.70 million for the quarter, compared to analyst estimates of $260.16 million. Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $2.04 EPS. On average, research analysts predict that Chesapeake Utilities will post 5.41 EPS for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a $0.64 dividend. The ex-dividend date is Friday, June 14th. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.41%. Chesapeake Utilities’s payout ratio is 53.78%.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.