Chesapeake Utilities Corporation (NYSE:CPK) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Chesapeake Utilities Corporation (NYSE: CPK) has received a consensus rating of "Hold" from five analysts, with a price target averaging $128.50.
• The company reported earnings of $1.04 per share, exceeding analysts' expectations, and has set a fiscal year 2025 guidance of $6.150-6.35 EPS.
• Chesapeake Utilities has declared a quarterly dividend of $0.685 per share, representing an annualized yield of 2.1% and indicating a payout ratio of 48.84%.

Chesapeake Utilities Corporation (NYSE:CPK - Get Free Report) has been assigned a consensus rating of "Hold" from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $128.50.

Several analysts have recently commented on the stock. Barclays set a $128.00 price target on shares of Chesapeake Utilities and gave the company an "equal weight" rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Chesapeake Utilities in a research report on Wednesday, October 8th. Finally, BTIG Research assumed coverage on shares of Chesapeake Utilities in a research report on Tuesday. They set a "neutral" rating on the stock.

Chesapeake Utilities Price Performance

CPK traded down $2.38 during trading on Tuesday, reaching $131.94. The company's stock had a trading volume of 108,353 shares, compared to its average volume of 119,721. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of $128.81 and a two-hundred day simple moving average of $125.90. Chesapeake Utilities has a 1 year low of $115.12 and a 1 year high of $140.59. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 23.52 and a beta of 0.74.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The business had revenue of $192.80 million for the quarter, compared to analyst estimates of $182.45 million. During the same period last year, the company posted $0.86 EPS. The business's revenue was up 15.9% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. As a group, analysts anticipate that Chesapeake Utilities will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Monday, September 15th were given a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, September 15th. Chesapeake Utilities's payout ratio is presently 48.84%.

Insider Activity at Chesapeake Utilities

In related news, CFO Beth W. Cooper sold 5,000 shares of Chesapeake Utilities stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $132.15, for a total value of $660,750.00. Following the completion of the sale, the chief financial officer owned 90,713 shares in the company, valued at approximately $11,987,722.95. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.51% of the company's stock.

Institutional Trading of Chesapeake Utilities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPK. Spire Wealth Management purchased a new stake in Chesapeake Utilities in the first quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Chesapeake Utilities in the second quarter valued at approximately $26,000. JFS Wealth Advisors LLC raised its position in Chesapeake Utilities by 1,909.1% in the second quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 210 shares during the period. EverSource Wealth Advisors LLC raised its position in Chesapeake Utilities by 94.7% in the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 108 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Chesapeake Utilities by 292.9% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 164 shares during the period. Hedge funds and other 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.

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