According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
A number of other analysts also recently commented on the company. Janney Montgomery Scott raised Chesapeake Utilities Corp. from a neutral rating to a buy rating and increased their price target for the company from $59.00 to $71.00 in a research report on Monday, August 8th. Hilliard Lyons raised Chesapeake Utilities Corp. from a neutral rating to a buy rating and set a $72.00 price target for the company in a research report on Friday, June 24th. Finally, BB&T Corp. assumed coverage on Chesapeake Utilities Corp. in a research report on Wednesday, June 22nd. They issued a hold rating for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Chesapeake Utilities Corp. has a consensus rating of Hold and an average price target of $70.33.
Chesapeake Utilities Corp. (NYSE:CPK) remained flat at $61.25 during trading on Thursday. The company’s stock had a trading volume of 10,158 shares. The stock has a market capitalization of $938.53 million, a PE ratio of 22.26 and a beta of 0.24. The stock’s 50 day moving average is $61.85 and its 200-day moving average is $61.98. Chesapeake Utilities Corp. has a 12-month low of $49.50 and a 12-month high of $67.88.
Chesapeake Utilities Corp. (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The company earned $102.30 million during the quarter, compared to the consensus estimate of $98.90 million. Chesapeake Utilities Corp. had a return on equity of 12.19% and a net margin of 9.47%. Chesapeake Utilities Corp.’s revenue was up 10.4% compared to the same quarter last year. On average, analysts forecast that Chesapeake Utilities Corp. will post $2.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, September 13th. Chesapeake Utilities Corp.’s dividend payout ratio is currently 44.53%.
In other news, insider John R. Schimkaitis sold 500 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $62.62, for a total value of $31,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.36% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of CPK. Archford Capital Strategies LLC raised its position in Chesapeake Utilities Corp. by 1,480.0% in the second quarter. Archford Capital Strategies LLC now owns 1,975 shares of the company’s stock worth $131,000 after buying an additional 1,850 shares during the last quarter. Teacher Retirement System of Texas raised its position in Chesapeake Utilities Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,140 shares of the company’s stock worth $142,000 after buying an additional 263 shares during the last quarter. Bank of Montreal Can bought a new position in Chesapeake Utilities Corp. during the second quarter worth approximately $144,000. Huntington National Bank bought a new position in Chesapeake Utilities Corp. during the second quarter worth approximately $151,000. Finally, Advisory Services Network LLC bought a new position in Chesapeake Utilities Corp. during the second quarter worth approximately $194,000. 53.29% of the stock is owned by hedge funds and other institutional investors.
Chesapeake Utilities Corp. Company Profile
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. It provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.
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