Chesapeake Utilities (NYSE:CPK) Upgraded at StockNews.com

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

Other equities analysts also recently issued research reports about the company. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a research report on Friday, May 9th. Barclays dropped their price target on shares of Chesapeake Utilities from $125.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 29th.

Chesapeake Utilities Price Performance

NYSE:CPK opened at $120.47 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The company has a 50 day moving average price of $128.85 and a 200-day moving average price of $125.87. Chesapeake Utilities has a 1-year low of $102.64 and a 1-year high of $136.73. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 24.44 and a beta of 0.71.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.06). The firm had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 EPS. Equities research analysts forecast that Chesapeake Utilities will post 5.39 EPS for the current year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be paid a $0.685 dividend. The ex-dividend date is Monday, June 16th. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.64. This represents a $2.74 dividend on an annualized basis and a yield of 2.27%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 50.65%.

Institutional Investors Weigh In On Chesapeake Utilities

Several large investors have recently bought and sold shares of CPK. Royal Bank of Canada lifted its position in shares of Chesapeake Utilities by 8.0% in the first quarter. Royal Bank of Canada now owns 28,886 shares of the utilities provider’s stock valued at $3,710,000 after acquiring an additional 2,139 shares in the last quarter. ICW Investment Advisors LLC raised its stake in Chesapeake Utilities by 1.8% in the 1st quarter. ICW Investment Advisors LLC now owns 7,090 shares of the utilities provider’s stock valued at $911,000 after purchasing an additional 128 shares during the last quarter. Energy Income Partners LLC lifted its holdings in Chesapeake Utilities by 3.7% in the 1st quarter. Energy Income Partners LLC now owns 74,608 shares of the utilities provider’s stock valued at $9,582,000 after purchasing an additional 2,686 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in Chesapeake Utilities by 23.6% in the 1st quarter. Evergreen Capital Management LLC now owns 2,135 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 407 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Chesapeake Utilities during the 1st quarter worth $395,000. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

About Chesapeake Utilities

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.