Chesapeake Utilities (NYSE:CPK) Price Target Raised to $134.00

Chesapeake Utilities (NYSE:CPK) had its target price hoisted by Wells Fargo & Company from $132.00 to $134.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other brokerages have also recently commented on CPK. Wall Street Zen cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings raised Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Finally, Barclays set a $142.00 price objective on Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chesapeake Utilities presently has an average rating of “Hold” and a consensus price target of $138.00.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $134.77 on Monday. The company has a 50-day moving average of $128.09 and a two-hundred day moving average of $128.42. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 21.49 and a beta of 0.68. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.32 and a quick ratio of 0.28. Chesapeake Utilities has a one year low of $118.88 and a one year high of $140.83.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $198.91 million. During the same quarter last year, the company posted $1.04 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. On average, equities research analysts expect that Chesapeake Utilities will post 6.42 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 14th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, September 14th. Chesapeake Utilities’s dividend payout ratio is currently 46.89%.

Insider Buying and Selling

In other Chesapeake Utilities news, CEO Jeffry M. Householder sold 10,000 shares of Chesapeake Utilities stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $126.12, for a total transaction of $1,261,200.00. Following the completion of the sale, the chief executive officer owned 63,001 shares of the company’s stock, valued at $7,945,686.12. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kevin J. Webber sold 2,000 shares of Chesapeake Utilities stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the sale, the senior vice president directly owned 12,652 shares of the company’s stock, valued at $1,611,485.24. This trade represents a 13.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Chesapeake Utilities by 94.7% in the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Chesapeake Utilities by 292.9% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 164 shares during the last quarter. Entrust Financial LLC bought a new stake in Chesapeake Utilities in the fourth quarter worth approximately $37,000. Versant Capital Management Inc increased its stake in shares of Chesapeake Utilities by 38.8% during the 2nd quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 85 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Chesapeake Utilities by 66.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.