Chesapeake Utilities Co. (NYSE:CPK) Receives $109.80 Consensus Price Target from Analysts (2024)

Shares of Chesapeake Utilities Co. (NYSE:CPK – Get Free Report) have earned an average rating of “Moderate Buy” from the four ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $109.80.

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Royal Bank of Canada upped their target price on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Barclays assumed coverage on Chesapeake Utilities in a research report on Thursday. They set an “equal weight” rating and a $111.00 price objective for the company. Finally, StockNews.com cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th.

Check Out Our Latest Stock Analysis on CPK

Hedge Funds Weigh In On Chesapeake Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its stake in Chesapeake Utilities by 308.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 286 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 216 shares in the last quarter. GAMMA Investing LLC acquired a new position in Chesapeake Utilities in the 4th quarter valued at approximately $30,000. Fortis Group Advisors LLC lifted its position in Chesapeake Utilities by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock worth $31,000 after buying an additional 146 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Chesapeake Utilities during the 4th quarter valued at $41,000. Finally, Spirit of America Management Corp NY grew its holdings in shares of Chesapeake Utilities by 60.0% during the 4th quarter. Spirit of America Management Corp NY now owns 400 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Trading Up 3.2 %

NYSE:CPK opened at $112.01 on Thursday. The company has a market cap of $2.49 billion, a PE ratio of 23.53 and a beta of 0.60. The business’s 50 day moving average is $107.05 and its two-hundred day moving average is $103.66. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.93. Chesapeake Utilities has a 52 week low of $83.79 and a 52 week high of $132.91.

Chesapeake Utilities (NYSE:CPK – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.04). Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The business had revenue of $245.70 million during the quarter, compared to the consensus estimate of $260.16 million. During the same quarter in the previous year, the business posted $2.04 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts predict that Chesapeake Utilities will post 5.41 EPS for the current 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 2.29%. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.59. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 49.58%.

About Chesapeake Utilities

(Get Free Report

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.

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