BidaskClub Upgrades Chesapeake Utilities Corporation (CPK) to “Buy”
BidaskClub upgraded shares of Chesapeake Utilities Corporation (NYSE:CPK) from a hold rating to a buy rating in a report published on Tuesday morning.
Several other equities analysts have also recently commented on CPK. Royal Bank Of Canada began coverage on shares of Chesapeake Utilities Corporation in a research note on Wednesday, April 26th. They set a sector perform rating and a $75.00 target price on the stock. Zacks Investment Research cut shares of Chesapeake Utilities Corporation from a buy rating to a hold rating in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Chesapeake Utilities Corporation has an average rating of Hold and an average target price of $72.00.
Shares of Chesapeake Utilities Corporation (NYSE CPK) traded up 0.06% during mid-day trading on Tuesday, hitting $77.45. 21,897 shares of the stock were exchanged. The company has a 50-day moving average of $75.73 and a 200 day moving average of $70.91. The stock has a market cap of $1.27 billion, a PE ratio of 28.32 and a beta of 0.27. Chesapeake Utilities Corporation has a one year low of $57.63 and a one year high of $77.75.
Chesapeake Utilities Corporation (NYSE:CPK) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $1.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by $0.29. The company had revenue of $185.20 million for the quarter, compared to analyst estimates of $159.70 million. Chesapeake Utilities Corporation had a net margin of 8.08% and a return on equity of 10.08%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 EPS. On average, equities analysts predict that Chesapeake Utilities Corporation will post $2.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.325 per share. This is a boost from Chesapeake Utilities Corporation’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.30 annualized dividend and a yield of 1.68%. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is presently 47.97%.
In other news, CEO P. Mcmasters Michael sold 5,500 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $74.56, for a total transaction of $410,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugene H. Bayard acquired 835 shares of Chesapeake Utilities Corporation stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average price of $71.80 per share, with a total value of $59,953.00. The disclosure for this purchase can be found here. Company insiders own 5.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of CPK. Victory Capital Management Inc. raised its position in Chesapeake Utilities Corporation by 36.7% in the first quarter. Victory Capital Management Inc. now owns 2,265 shares of the utilities provider’s stock valued at $157,000 after buying an additional 608 shares during the period. Envestnet Asset Management Inc. raised its position in Chesapeake Utilities Corporation by 16.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,766 shares of the utilities provider’s stock valued at $186,000 after buying an additional 391 shares during the period. BNP Paribas Arbitrage SA raised its position in Chesapeake Utilities Corporation by 255.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,744 shares of the utilities provider’s stock valued at $190,000 after buying an additional 1,973 shares during the period. Advisory Services Network LLC acquired a new position in Chesapeake Utilities Corporation during the first quarter valued at $204,000. Finally, Eqis Capital Management Inc. acquired a new position in Chesapeake Utilities Corporation during the first quarter valued at $208,000. Institutional investors own 59.94% of the company’s stock.
Chesapeake Utilities Corporation Company Profile
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.
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