ValuEngine Upgrades Chesapeake Utilities (NYSE:CPK) to “Buy”

ValuEngine upgraded shares of Chesapeake Utilities (NYSE:CPK) from a hold rating to a buy rating in a report released on Friday, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Sidoti assumed coverage on shares of Chesapeake Utilities in a report on Thursday, October 24th. They set a buy rating and a $108.00 target price on the stock. Maxim Group set a $110.00 price target on shares of Chesapeake Utilities and gave the stock a buy rating in a research note on Friday, October 11th. Wells Fargo & Co reissued a hold rating on shares of Chesapeake Utilities in a research note on Monday, December 9th. Finally, Zacks Investment Research lowered shares of Chesapeake Utilities from a buy rating to a hold rating in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Chesapeake Utilities has an average rating of Buy and a consensus price target of $101.05.

CPK traded down $0.10 during midday trading on Friday, hitting $94.03. The stock had a trading volume of 26,990 shares, compared to its average volume of 56,945. The company has a market cap of $1.57 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 3.73 and a beta of 0.15. The business has a fifty day moving average of $91.77 and a 200 day moving average of $93.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.26. Chesapeake Utilities has a 1 year low of $77.20 and a 1 year high of $97.00.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $92.63 million for the quarter, compared to analysts’ expectations of $170.20 million. Chesapeake Utilities had a return on equity of 11.24% and a net margin of 9.26%.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 1.72%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.94%.

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $94.41, for a total value of $236,025.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.18% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Krane Funds Advisors LLC purchased a new position in shares of Chesapeake Utilities in the second quarter worth $59,000. Tower Research Capital LLC TRC bought a new stake in Chesapeake Utilities during the 3rd quarter valued at $85,000. River & Mercantile Asset Management LLP purchased a new stake in Chesapeake Utilities during the 2nd quarter valued at $86,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Chesapeake Utilities by 29.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 955 shares of the utilities provider’s stock valued at $91,000 after buying an additional 219 shares during the period. Finally, US Bancorp DE grew its holdings in Chesapeake Utilities by 15.5% in the 2nd quarter. US Bancorp DE now owns 1,800 shares of the utilities provider’s stock worth $171,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 66.24% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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