Analysts Set Chesapeake Utilities Corporation (NYSE:CPK) Price Target at $135.00

Shares of Chesapeake Utilities Corporation (NYSE:CPK) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $135.00.

A number of research analysts have weighed in on CPK shares. BTIG Research started coverage on shares of Chesapeake Utilities in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. Barclays set a $141.00 price objective on Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen lowered Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Chesapeake Utilities Trading Down 0.2%

Shares of Chesapeake Utilities stock opened at $134.31 on Friday. Chesapeake Utilities has a 1 year low of $115.12 and a 1 year high of $140.59. The firm has a market cap of $3.18 billion, a PE ratio of 23.94 and a beta of 0.79. The stock has a fifty day moving average price of $131.92 and a 200-day moving average price of $125.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). The company had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $167.30 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.Chesapeake Utilities’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. Equities research analysts anticipate that Chesapeake Utilities will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.685 per share. The ex-dividend date is Monday, December 15th. This represents a $2.74 annualized dividend and a dividend yield of 2.0%. Chesapeake Utilities’s dividend payout ratio is presently 48.50%.

Insiders Place Their Bets

In related news, CFO Beth W. Cooper sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $132.15, for a total value of $660,750.00. Following the sale, the chief financial officer directly owned 90,713 shares in the company, valued at approximately $11,987,722.95. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Chesapeake Utilities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its stake in Chesapeake Utilities by 831.0% in the 3rd quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock valued at $68,884,000 after buying an additional 456,497 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Chesapeake Utilities by 27.6% in the third quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock worth $128,231,000 after acquiring an additional 205,742 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Chesapeake Utilities in the third quarter valued at $19,604,000. Tributary Capital Management LLC grew its position in shares of Chesapeake Utilities by 92.5% in the third quarter. Tributary Capital Management LLC now owns 270,642 shares of the utilities provider’s stock valued at $36,453,000 after purchasing an additional 130,071 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Chesapeake Utilities by 1,395.0% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 131,022 shares of the utilities provider’s stock valued at $17,647,000 after purchasing an additional 122,258 shares during the period. Institutional investors own 83.11% of the company’s stock.

About Chesapeake Utilities

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.