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

Shares of Chesapeake Utilities Co. (NYSE:CPK) have been given an average recommendation of “Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $87.00.

A number of brokerages recently weighed in on CPK. Zacks Investment Research raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Wednesday. 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. Finally, Wells Fargo & Co lifted their price target on shares of Chesapeake Utilities from $86.00 to $88.00 and gave the stock a “hold” rating in a research note on Monday, September 24th.

CPK traded up $0.27 on Tuesday, reaching $84.70. The company had a trading volume of 27,335 shares, compared to its average volume of 70,648. The company has a market capitalization of $1.39 billion, a P/E ratio of 26.89, a P/E/G ratio of 4.21 and a beta of 0.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.27. Chesapeake Utilities has a 52-week low of $66.35 and a 52-week high of $93.09.

Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Thursday, November 8th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.15). The company had revenue of $140.28 million during the quarter, compared to analysts’ expectations of $142.85 million. Chesapeake Utilities had a net margin of 9.31% and a return on equity of 10.25%. On average, equities analysts anticipate that Chesapeake Utilities will post 3.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, December 13th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.21%.

Several hedge funds have recently bought and sold shares of CPK. AdvisorNet Financial Inc raised its stake in shares of Chesapeake Utilities by 2,424.6% during the second quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 1,382 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Chesapeake Utilities during the second quarter worth approximately $209,000. LPL Financial LLC purchased a new position in shares of Chesapeake Utilities during the first quarter worth approximately $217,000. Creative Planning purchased a new position in shares of Chesapeake Utilities during the second quarter worth approximately $227,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Chesapeake Utilities during the third quarter worth approximately $263,000. 63.76% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Company Profile

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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