Chesapeake Utilities (NYSE:CPK) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Chesapeake Utilities (NYSE:CPK) from a hold rating to a buy rating in a research note released on Monday morning, ValuEngine reports.

Several other equities analysts also recently issued reports on CPK. Wells Fargo & Co reissued a hold rating on shares of Chesapeake Utilities in a research report on Monday, June 10th. Zacks Investment Research downgraded Chesapeake Utilities from a hold rating to a sell rating in a research report on Friday, July 12th. Finally, Maxim Group reissued a buy rating and issued a $110.00 target price (up from $100.00) on shares of Chesapeake Utilities in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Chesapeake Utilities currently has a consensus rating of Buy and an average target price of $98.81.

Shares of CPK stock opened at $93.21 on Monday. The business’s fifty day simple moving average is $92.89 and its 200-day simple moving average is $92.18. The company has a market cap of $1.52 billion, a PE ratio of 28.16, a PEG ratio of 3.56 and a beta of 0.24. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.53. Chesapeake Utilities has a 12-month low of $77.20 and a 12-month high of $96.27.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $130.90 million for the quarter, compared to analyst estimates of $169.40 million. Chesapeake Utilities had a return on equity of 11.30% and a net margin of 8.62%. On average, equities analysts forecast that Chesapeake Utilities will post 3.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 13th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 12th. Chesapeake Utilities’s payout ratio is 48.94%.

In related news, insider John R. Schimkaitis sold 2,500 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.20, for a total value of $235,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.18% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPK. Nuveen Asset Management LLC increased its position in shares of Chesapeake Utilities by 3,829.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 112,646 shares of the utilities provider’s stock valued at $10,704,000 after acquiring an additional 109,779 shares during the period. Millennium Management LLC grew its position in Chesapeake Utilities by 517.8% during the 4th quarter. Millennium Management LLC now owns 66,381 shares of the utilities provider’s stock worth $5,397,000 after purchasing an additional 55,637 shares during the period. Vanguard Group Inc. grew its position in Chesapeake Utilities by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,038,030 shares of the utilities provider’s stock worth $98,633,000 after purchasing an additional 52,523 shares during the period. Price T Rowe Associates Inc. MD grew its position in Chesapeake Utilities by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,281,339 shares of the utilities provider’s stock worth $216,773,000 after purchasing an additional 43,274 shares during the period. Finally, BlackRock Inc. grew its position in Chesapeake Utilities by 2.4% during the 2nd quarter. BlackRock Inc. now owns 1,353,148 shares of the utilities provider’s stock worth $128,576,000 after purchasing an additional 31,273 shares during the period. 65.32% 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.

Recommended Story: Liquidity

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.