Chesapeake Utilities Corp. (CPK) Now Covered by Analysts at Wells Fargo & Co.
CPK has been the subject of several other reports. Zacks Investment Research raised Chesapeake Utilities Corp. from a hold rating to a buy rating and set a $68.00 target price for the company in a research report on Friday, September 30th. Janney Montgomery Scott raised Chesapeake Utilities Corp. from a neutral rating to a buy rating and raised their target price for the company from $59.00 to $71.00 in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Chesapeake Utilities Corp. presently has a consensus rating of Hold and a consensus target price of $70.33.
Chesapeake Utilities Corp. (NYSE:CPK) opened at 67.30 on Tuesday. Chesapeake Utilities Corp. has a 1-year low of $51.44 and a 1-year high of $68.00. The firm has a market cap of $1.10 billion, a P/E ratio of 24.91 and a beta of 0.19. The company has a 50-day moving average price of $62.60 and a 200-day moving average price of $62.46.
Chesapeake Utilities Corp. (NYSE:CPK) last announced its earnings results on Thursday, November 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.11. Chesapeake Utilities Corp. had a net margin of 8.98% and a return on equity of 11.34%. The business had revenue of $108.35 million for the quarter, compared to analysts’ expectations of $100.70 million. During the same period in the prior year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities research analysts forecast that Chesapeake Utilities Corp. will post $2.87 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th will be paid a $0.305 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.22 annualized dividend and a yield of 1.81%. Chesapeake Utilities Corp.’s dividend payout ratio is currently 45.19%.
In other Chesapeake Utilities Corp. news, insider John R. Schimkaitis sold 500 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $62.62, for a total value of $31,310.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.36% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Group LTD increased its position in shares of Chesapeake Utilities Corp. by 19.9% in the first quarter. BlackRock Group LTD now owns 11,990 shares of the company’s stock valued at $755,000 after buying an additional 1,989 shares in the last quarter. Park National Corp OH bought a new position in shares of Chesapeake Utilities Corp. during the second quarter valued at approximately $407,000. First Manhattan Co. increased its position in shares of Chesapeake Utilities Corp. by 2.0% in the second quarter. First Manhattan Co. now owns 77,025 shares of the company’s stock valued at $5,097,000 after buying an additional 1,522 shares in the last quarter. Telemus Capital LLC bought a new position in shares of Chesapeake Utilities Corp. during the second quarter valued at approximately $203,000. Finally, Gray Financial Group GA ADV ADV bought a new position in shares of Chesapeake Utilities Corp. during the second quarter valued at approximately $278,000. Institutional investors and hedge funds own 57.15% of the company’s stock.
About Chesapeake Utilities Corp.
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. It provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.
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