Chesapeake Utilities (NYSE:CPK) Upgraded by LADENBURG THALM/SH SH to Strong-Buy Rating

LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities (NYSE:CPK) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Separately, StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.67.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $130.49 on Thursday. The company has a market capitalization of $3.00 billion, a PE ratio of 26.47 and a beta of 0.66. Chesapeake Utilities has a fifty-two week low of $98.32 and a fifty-two week high of $134.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The company has a 50 day simple moving average of $125.63 and a two-hundred day simple moving average of $124.05.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.04). The firm had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter last year, the company earned $1.64 earnings per share. Research analysts anticipate that Chesapeake Utilities will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities’s payout ratio is 48.58%.

Hedge Funds Weigh In On Chesapeake Utilities

Several institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in Chesapeake Utilities by 11.6% in the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock valued at $5,095,000 after buying an additional 4,262 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Chesapeake Utilities by 2.4% during the third quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock valued at $702,000 after acquiring an additional 130 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Chesapeake Utilities by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock worth $35,760,000 after purchasing an additional 14,430 shares during the period. Arizona State Retirement System raised its position in shares of Chesapeake Utilities by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 103 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Chesapeake Utilities by 4.0% in the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider’s stock worth $767,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

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.