Chesapeake Utilities (NYSE:CPK) Now Covered by Huntington

Huntington began coverage on shares of Chesapeake Utilities (NYSE:CPK) in a research report issued to clients and investors on Monday, Zacks reports. The brokerage set a “strong-buy” rating on the utilities provider’s stock.

Several other research firms also recently weighed in on CPK. Wells Fargo & Company set a $136.00 price target on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Wednesday, September 30th. Mizuho set a $155.00 price target on Chesapeake Utilities in a research note on Monday. UBS Group restated an “outperform” rating on shares of Chesapeake Utilities in a report on Monday. Wall Street Zen cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Chesapeake Utilities from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $143.75.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $140.94 on Monday. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 0.79. The firm has a market cap of $3.40 billion, a PE ratio of 22.23 and a beta of 0.62. The company’s 50 day simple moving average is $131.75 and its 200-day simple moving average is $129.67. Chesapeake Utilities has a 12-month low of $118.88 and a 12-month high of $145.54.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, November 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.04). The company had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $193.31 million. Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. As a group, equities analysts predict that Chesapeake Utilities will post 6.40 EPS for the current year.

Institutional Investors Weigh In On Chesapeake Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of CPK. Harbour Investments Inc. boosted its stake in shares of Chesapeake Utilities by 12.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,817 shares of the utilities provider’s stock valued at $490,000 after buying an additional 412 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Chesapeake Utilities by 0.7% in the third quarter. Maryland State Retirement & Pension System now owns 26,206 shares of the utilities provider’s stock worth $3,366,000 after buying an additional 183 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Chesapeake Utilities by 0.9% in the third quarter. Illinois Municipal Retirement Fund now owns 12,289 shares of the utilities provider’s stock worth $1,579,000 after buying an additional 114 shares during the last quarter. Ethic Inc. raised its holdings in Chesapeake Utilities by 6.6% in the third quarter. Ethic Inc. now owns 5,156 shares of the utilities provider’s stock valued at $662,000 after acquiring an additional 319 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Chesapeake Utilities by 6.4% in the third quarter. Pictet Asset Management Holding SA now owns 4,320 shares of the utilities provider’s stock valued at $555,000 after acquiring an additional 259 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation is a diversified energy company that delivers natural gas, propane and electricity to residential, commercial and industrial customers. Its businesses also include natural gas transmission and distribution, energy generation, and renewable natural gas projects.

The company serves customers across Delaware, Maryland, Florida and other parts of the Mid-Atlantic and Southeast. Its operations include regulated natural gas and electric utilities as well as unregulated propane distribution and energy-related services.

Chesapeake Utilities traces its roots to the Dover Gas Light Company, established in Delaware in 1859.