Chesapeake Utilities Co. (NYSE:CPK) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $100.50.
CPK has been the subject of several recent analyst reports. Wells Fargo & Company reissued a “hold” rating on shares of Chesapeake Utilities in a report on Friday, August 7th. Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Tuesday.
CPK opened at $76.33 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.23 and a quick ratio of 0.21. The business has a 50 day simple moving average of $82.95 and a 200-day simple moving average of $85.91. The stock has a market capitalization of $1.27 billion, a P/E ratio of 20.15 and a beta of 0.21. Chesapeake Utilities has a 12 month low of $69.47 and a 12 month high of $101.29.
Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.54 by $0.10. The business had revenue of $97.05 million during the quarter, compared to analysts’ expectations of $139.00 million. Chesapeake Utilities had a return on equity of 10.96% and a net margin of 14.35%. Research analysts anticipate that Chesapeake Utilities will post 4.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, September 14th. Chesapeake Utilities’s payout ratio is 48.09%.
In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $91.00, for a total transaction of $227,500.00. Company insiders own 3.14% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new stake in shares of Chesapeake Utilities in the second quarter valued at $26,000. Macquarie Group Ltd. purchased a new stake in Chesapeake Utilities in the 2nd quarter valued at about $55,000. Tradewinds Capital Management LLC grew its holdings in Chesapeake Utilities by 55.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 700 shares of the utilities provider’s stock valued at $60,000 after buying an additional 250 shares during the period. Captrust Financial Advisors acquired a new position in shares of Chesapeake Utilities during the 2nd quarter valued at about $64,000. Finally, Paradigm Asset Management Co. LLC purchased a new position in shares of Chesapeake Utilities during the 2nd quarter worth about $84,000. 70.39% of the stock is owned by institutional investors.
About Chesapeake Utilities
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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