Brokerages Set Chesapeake Utilities Co. (NYSE:CPK) PT at $109.80

Shares of Chesapeake Utilities Co. (NYSE:CPK) have been assigned a consensus rating of “Moderate Buy” from the four ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $109.80.

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Royal Bank of Canada raised their price objective on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. StockNews.com lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th. Finally, Barclays began coverage on Chesapeake Utilities in a research note on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 price target on the stock.

Chesapeake Utilities Trading Up 0.0 %

CPK opened at $105.24 on Monday. Chesapeake Utilities has a twelve month low of $83.79 and a twelve month high of $124.72. The firm has a market cap of $2.34 billion, a PE ratio of 22.11 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.38 and a current ratio of 0.46. The firm’s fifty day moving average is $108.16 and its two-hundred day moving average is $105.12.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.04). Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The business had revenue of $245.70 million for the quarter, compared to analyst estimates of $260.16 million. During the same period in the previous year, the business posted $2.04 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Chesapeake Utilities will post 5.41 EPS for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be given a $0.64 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.56 dividend on an annualized basis and a yield of 2.43%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. Chesapeake Utilities’s dividend payout ratio (DPR) is 53.78%.

Institutional Trading of Chesapeake Utilities

Hedge funds and other institutional investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. grew its stake in Chesapeake Utilities by 308.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 286 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 216 shares in the last quarter. GAMMA Investing LLC acquired a new position in Chesapeake Utilities during the fourth quarter worth $30,000. Fortis Group Advisors LLC raised 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 acquiring an additional 146 shares in the last quarter. Principal Securities Inc. acquired a new stake in Chesapeake Utilities in the fourth quarter valued at $41,000. Finally, Spirit of America Management Corp NY grew its position in shares of Chesapeake Utilities by 60.0% in the 4th 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 during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

About Chesapeake Utilities

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.