Maxim Group Begins Coverage on Chesapeake Utilities (CPK)

Maxim Group assumed coverage on shares of Chesapeake Utilities (NYSE:CPK) in a research report released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $100.00 price target on the utilities provider’s stock.

Several other equities research analysts have also recently commented on CPK. ValuEngine cut Chesapeake Utilities from a buy rating to a hold rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Chesapeake Utilities from a hold rating to a buy rating and set a $91.00 price target for the company in a research note on Monday, August 13th. Wells Fargo & Co upped their price target on Chesapeake Utilities from $82.00 to $86.00 and gave the stock a market perform rating in a research note on Monday, September 17th. Finally, Janney Montgomery Scott cut Chesapeake Utilities from a buy rating to a neutral rating and set a $86.00 price target for the company. in a research note on Monday, September 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Chesapeake Utilities has an average rating of Buy and an average target price of $91.25.

Shares of NYSE CPK opened at $86.04 on Wednesday. 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 twelve month low of $66.35 and a twelve month high of $93.09. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 4.19 and a beta of 0.09.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.15). Chesapeake Utilities had a net margin of 9.31% and a return on equity of 10.25%. The firm had revenue of $140.28 million during the quarter, compared to analysts’ expectations of $142.85 million. As a group, sell-side analysts anticipate that Chesapeake Utilities will post 3.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Stockholders 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 1.72%. The ex-dividend date is Thursday, December 13th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.21%.

Several institutional investors have recently added to or reduced their stakes in the company. Yorktown Management & Research Co Inc raised its stake in shares of Chesapeake Utilities by 9.0% during the third quarter. Yorktown Management & Research Co Inc now owns 7,631 shares of the utilities provider’s stock worth $640,000 after purchasing an additional 631 shares during the last quarter. WINTON GROUP Ltd raised its position in Chesapeake Utilities by 16.5% in the third quarter. WINTON GROUP Ltd now owns 4,857 shares of the utilities provider’s stock worth $408,000 after acquiring an additional 688 shares in the last quarter. Teachers Advisors LLC raised its position in Chesapeake Utilities by 3.2% in the third quarter. Teachers Advisors LLC now owns 32,208 shares of the utilities provider’s stock worth $2,702,000 after acquiring an additional 988 shares in the last quarter. Tortoise Index Solutions LLC raised its position in Chesapeake Utilities by 14.3% in the second quarter. Tortoise Index Solutions LLC now owns 8,564 shares of the utilities provider’s stock worth $685,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Chesapeake Utilities by 1.4% in the third quarter. Wells Fargo & Company MN now owns 91,083 shares of the utilities provider’s stock worth $7,641,000 after acquiring an additional 1,248 shares in the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.

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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Analyst Recommendations for Chesapeake Utilities (NYSE:CPK)

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