Chesapeake Utilities’ (CPK) Hold Rating Reiterated at Wells Fargo & Co

Wells Fargo & Co reissued their hold rating on shares of Chesapeake Utilities (NYSE:CPK) in a research report report published on Friday, AnalystRatings.com reports.

A number of other brokerages have also weighed in on CPK. Zacks Investment Research lowered shares of Chesapeake Utilities from a hold rating to a sell rating in a research note on Monday, January 14th. Maxim Group set a $100.00 price target on shares of Chesapeake Utilities and gave the stock a buy rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $93.31.

Chesapeake Utilities stock opened at $95.25 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.30 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 4.19 and a beta of 0.25. Chesapeake Utilities has a 52-week low of $73.55 and a 52-week high of $95.48.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.08. The firm had revenue of $227.62 million during the quarter, compared to analyst estimates of $271.10 million. Chesapeake Utilities had a net margin of 8.27% and a return on equity of 11.41%. Equities analysts forecast that Chesapeake Utilities will post 3.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.405 dividend. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, June 13th. Chesapeake Utilities’s dividend payout ratio is currently 44.71%.

Large investors have recently modified their holdings of the company. MetLife Investment Advisors LLC raised its holdings in shares of Chesapeake Utilities by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 10,826 shares of the utilities provider’s stock worth $908,000 after purchasing an additional 3,851 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Chesapeake Utilities by 3.2% in the 3rd quarter. Teachers Advisors LLC now owns 32,208 shares of the utilities provider’s stock worth $2,702,000 after purchasing an additional 988 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Chesapeake Utilities by 14.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 105,969 shares of the utilities provider’s stock worth $8,891,000 after purchasing an additional 13,161 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Chesapeake Utilities by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 929,001 shares of the utilities provider’s stock worth $77,943,000 after purchasing an additional 34,124 shares in the last quarter. Finally, Vanguard Group Inc raised its holdings in shares of Chesapeake Utilities by 3.8% in the 3rd quarter. Vanguard Group Inc now owns 929,001 shares of the utilities provider’s stock worth $77,943,000 after purchasing an additional 34,124 shares in the last quarter. 64.72% of the stock is owned by institutional investors.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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