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 - Free Report) to a strong-buy rating in a research note issued to investors on Tuesday, April 22nd,Zacks.com reports.

A number of other brokerages also recently issued reports on CPK. Barclays raised their price objective on Chesapeake Utilities from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. StockNews.com cut Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chesapeake Utilities presently has a consensus rating of "Hold" and a consensus target price of $122.67.

Chesapeake Utilities Trading Up 0.4 %

Chesapeake Utilities stock traded up $0.47 during trading hours on Tuesday, hitting $131.87. The stock had a trading volume of 30,393 shares, compared to its average volume of 107,958. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 26.75 and a beta of 0.66. Chesapeake Utilities has a one year low of $102.64 and a one year high of $136.73. The business's 50 day simple moving average is $128.51 and its 200-day simple moving average is $125.30.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $215.00 million during the quarter, compared to the consensus estimate of $237.84 million. During the same quarter in the prior year, the business posted $1.64 earnings per share. On average, equities analysts predict that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, March 14th. Chesapeake Utilities's payout ratio is currently 48.58%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CPK. Barclays PLC raised its holdings in Chesapeake Utilities by 342.4% during the third quarter. Barclays PLC now owns 37,048 shares of the utilities provider's stock worth $4,600,000 after buying an additional 28,673 shares during the last quarter. Anchor Investment Management LLC grew its position in Chesapeake Utilities by 5.7% during the third quarter. Anchor Investment Management LLC now owns 23,473 shares of the utilities provider's stock valued at $2,915,000 after buying an additional 1,270 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Chesapeake Utilities during the third quarter valued at about $182,000. JPMorgan Chase & Co. boosted its position in 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. Finally, Versant Capital Management Inc boosted its position in Chesapeake Utilities by 2,018.2% during the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider's stock worth $28,000 after purchasing an additional 222 shares during the period. 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.