Janney Montgomery Scott cut shares of Chesapeake Utilities (NYSE:CPK) from a buy rating to a neutral rating in a research note published on Monday, Marketbeat Ratings reports. They currently have $86.00 target price on the utilities provider’s stock.
Several other research analysts have also recently weighed in on the stock. Wells Fargo & Co boosted their price objective on shares of Chesapeake Utilities from $82.00 to $86.00 and gave the company a market perform rating in a report on Monday, September 17th. ValuEngine raised shares of Chesapeake Utilities from a hold rating to a buy rating in a report on Friday, August 17th. Finally, Zacks Investment Research cut shares of Chesapeake Utilities from a buy rating to a hold rating in a report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Chesapeake Utilities currently has a consensus rating of Hold and a consensus target price of $87.50.
CPK opened at $82.35 on Monday. 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 $90.90. The company has a market cap of $1.38 billion, a PE ratio of 26.04, a P/E/G ratio of 4.10 and a beta of -0.01.
Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a net margin of 9.68% and a return on equity of 10.75%. The company had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $140.85 million. research analysts predict that Chesapeake Utilities will post 3.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. Chesapeake Utilities’s dividend payout ratio is currently 51.21%.
In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $79.10, for a total transaction of $197,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc increased its holdings in Chesapeake Utilities by 2,424.6% during the second quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock valued at $115,000 after buying an additional 1,382 shares during the last quarter. Archford Capital Strategies LLC purchased a new stake in Chesapeake Utilities during the first quarter valued at approximately $156,000. Mount Yale Investment Advisors LLC purchased a new stake in Chesapeake Utilities during the first quarter valued at approximately $196,000. United Services Automobile Association bought a new position in shares of Chesapeake Utilities in the second quarter worth approximately $209,000. Finally, LPL Financial LLC bought a new position in shares of Chesapeake Utilities in the first quarter worth approximately $217,000. 63.67% of the stock is owned by institutional investors and hedge funds.
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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