Equities researchers at Huntington began coverage on shares of Chesapeake Utilities (NYSE:CPK – Get Free Report) in a report released on Monday, Zacks reports. The brokerage set a “strong-buy” rating on the utilities provider’s stock.
CPK has been the topic of several other research reports. Mizuho set a $155.00 price objective on shares of Chesapeake Utilities in a research note on Monday. Wall Street Zen downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Barclays set a $134.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a report on Monday, October 19th. Weiss Ratings upgraded Chesapeake Utilities from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. Finally, Wells Fargo & Company set a $136.00 price target on Chesapeake Utilities and gave the stock an “equal weight” rating in a report on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Chesapeake Utilities currently has a consensus rating of “Buy” and an average target price of $143.75.
Get Our Latest Report on Chesapeake Utilities
Chesapeake Utilities Trading Up 0.5%
Shares of NYSE CPK opened at $140.94 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79. The stock’s 50 day moving average price is $131.75 and its two-hundred day moving average price is $129.67. Chesapeake Utilities has a 52-week low of $118.88 and a 52-week high of $145.54. The stock has a market capitalization of $3.40 billion, a P/E ratio of 22.23 and a beta of 0.62.
Chesapeake Utilities (NYSE:CPK – Get Free Report) last issued its earnings results on Thursday, November 5th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.04). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The firm had revenue of $195.80 million during the quarter, compared to analyst estimates of $193.31 million. During the same quarter in the previous year, the business posted $0.82 EPS. Chesapeake Utilities’s revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Chesapeake Utilities will post 6.40 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Chesapeake Utilities
A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in Chesapeake Utilities by 24.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 404 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 79 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Chesapeake Utilities by 38.8% during the second quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 85 shares during the period. Corient Private Wealth LP boosted its holdings in shares of Chesapeake Utilities by 1.7% during the second quarter. Corient Private Wealth LP now owns 6,828 shares of the utilities provider’s stock worth $836,000 after acquiring an additional 114 shares during the period. Arizona State Retirement System grew its position in shares of Chesapeake Utilities by 1.8% in the second quarter. Arizona State Retirement System now owns 6,619 shares of the utilities provider’s stock valued at $811,000 after purchasing an additional 114 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position 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 valued at $1,579,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.
About Chesapeake Utilities
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.
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