Chesapeake Utilities (NYSE:CPK) PT Raised to $115.00

Chesapeake Utilities (NYSE:CPK) had its price objective upped by research analysts at Wells Fargo & Company from $105.00 to $115.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.88% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. StockNews.com cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Chesapeake Utilities presently has a consensus rating of “Hold” and a consensus target price of $109.50.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock traded up $0.38 during mid-day trading on Friday, hitting $111.78. 11,448 shares of the company traded hands, compared to its average volume of 127,645. Chesapeake Utilities has a one year low of $83.79 and a one year high of $132.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.40 and a current ratio of 0.48. The stock has a fifty day moving average price of $104.94 and a 200-day moving average price of $101.29. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 23.37 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.04). Chesapeake Utilities had a return on equity of 10.19% and a net margin of 13.01%. The company had revenue of $245.70 million during the quarter, compared to the consensus estimate of $260.16 million. During the same period last year, the firm posted $2.04 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts predict that Chesapeake Utilities will post 5.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chesapeake Utilities

Large investors have recently modified their holdings of the stock. Wealthspire Advisors LLC grew its position in Chesapeake Utilities by 0.3% during the first quarter. Wealthspire Advisors LLC now owns 29,251 shares of the utilities provider’s stock worth $3,139,000 after buying an additional 95 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Chesapeake Utilities by 0.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,191 shares of the utilities provider’s stock worth $1,308,000 after purchasing an additional 99 shares in the last quarter. New York State Teachers Retirement System grew its position in Chesapeake Utilities by 1.8% in the first quarter. New York State Teachers Retirement System now owns 5,657 shares of the utilities provider’s stock valued at $607,000 after acquiring an additional 100 shares during the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Chesapeake Utilities by 10.2% during the first quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 100 shares during the last quarter. Finally, Cox Capital Mgt LLC lifted its position in shares of Chesapeake Utilities by 1.2% in the 1st quarter. Cox Capital Mgt LLC now owns 10,986 shares of the utilities provider’s stock worth $1,179,000 after purchasing an additional 129 shares during the period. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Company Profile

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.