Brokerages Set Chesapeake Utilities Co. (NYSE:CPK) Target Price at $109.80

Chesapeake Utilities Co. (NYSE:CPK) has received a consensus rating of “Moderate Buy” from the four research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $109.80.

Several equities research analysts have commented on CPK shares. Barclays started coverage on shares of Chesapeake Utilities in a research report on Thursday, May 30th. They set an “equal weight” rating and a $111.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

Chesapeake Utilities Trading Down 1.0 %

CPK opened at $106.23 on Monday. The stock has a market capitalization of $2.37 billion, a P/E ratio of 22.32 and a beta of 0.61. Chesapeake Utilities has a 12 month low of $83.79 and a 12 month high of $124.72. The firm’s fifty day simple moving average is $108.28 and its 200 day simple moving average is $105.18. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.04). Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The company had revenue of $245.70 million during the quarter, compared to the consensus estimate of $260.16 million. During the same period in the prior year, the firm posted $2.04 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts anticipate that Chesapeake Utilities will post 5.41 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a $0.64 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.56 dividend on an annualized basis and a yield of 2.41%. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.59. Chesapeake Utilities’s dividend payout ratio is 53.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. bought a new stake in shares of Chesapeake Utilities during the 4th quarter worth approximately $1,060,000. Strs Ohio increased its position in shares of Chesapeake Utilities by 83.7% during the fourth quarter. Strs Ohio now owns 81,200 shares of the utilities provider’s stock worth $8,577,000 after buying an additional 37,000 shares during the period. Jennison Associates LLC acquired a new stake in shares of Chesapeake Utilities during the fourth quarter worth $35,265,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Chesapeake Utilities during the fourth quarter worth $1,078,000. Finally, Tributary Capital Management LLC grew its holdings in Chesapeake Utilities by 11.7% in the fourth quarter. Tributary Capital Management LLC now owns 122,322 shares of the utilities provider’s stock worth $12,921,000 after purchasing an additional 12,764 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

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.