Chesapeake Utilities (NYSE:CPK) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Chesapeake Utilities (NYSE:CPK) from a sell rating to a hold rating in a research report released on Friday morning.

Separately, Guggenheim boosted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd.

Chesapeake Utilities Stock Performance

CPK stock opened at $130.37 on Friday. Chesapeake Utilities has a 1-year low of $98.32 and a 1-year high of $134.20. The firm has a market cap of $3.00 billion, a PE ratio of 26.44 and a beta of 0.60. The stock has a 50-day moving average price of $122.74 and a 200-day moving average price of $122.71. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities (NYSE:CPK) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $215.00 million during the quarter, compared to the consensus estimate of $237.84 million. During the same period in the previous year, the firm earned $1.64 earnings per share. As a group, equities research analysts expect that Chesapeake Utilities will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 1.96%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.58%.

Hedge Funds Weigh In On Chesapeake Utilities

A number of hedge funds have recently added to or reduced their stakes in CPK. Private Advisor Group LLC acquired a new position in Chesapeake Utilities during the 3rd quarter valued at about $202,000. Wealth Enhancement Advisory Services LLC boosted its stake in Chesapeake Utilities by 12.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,243 shares of the utilities provider’s stock valued at $527,000 after purchasing an additional 466 shares during the last quarter. Van ECK Associates Corp acquired a new position in Chesapeake Utilities during the 3rd quarter valued at about $734,000. Assetmark Inc. boosted its stake in Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares during the last quarter. Finally, Arrow Financial Corp acquired a new position in Chesapeake Utilities during the 3rd quarter valued at about $308,000. Institutional investors and hedge funds own 83.11% of the company’s stock.

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.