Chesapeake Utilities (NYSE:CPK) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Chesapeake Utilities (NYSE:CPK) from a sell rating to a hold rating in a report issued on Friday.

Separately, Guggenheim increased their price target on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $130.37 on Friday. The stock has a 50 day moving average of $122.93 and a 200 day moving average of $122.93. Chesapeake Utilities has a 12 month low of $98.32 and a 12 month high of $134.20. The firm has a market cap of $3.00 billion, a PE ratio of 26.44 and a beta of 0.60. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. During the same period in the previous year, the company posted $1.64 earnings per share. On average, research analysts expect that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities’s payout ratio is 48.58%.

Institutional Investors Weigh In On Chesapeake Utilities

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in shares of Chesapeake Utilities by 587.1% in the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 182 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Chesapeake Utilities by 2,018.2% in the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after buying an additional 222 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Chesapeake Utilities in the fourth quarter worth approximately $50,000. Assetmark Inc. raised its holdings in shares of Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after buying an additional 102 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of Chesapeake Utilities by 805.2% in the fourth quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider’s stock worth $85,000 after buying an additional 620 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.