Chesapeake Utilities’ (CPK) Hold Rating Reiterated at Wells Fargo & Co

Chesapeake Utilities (NYSE:CPK)‘s stock had its “hold” rating reiterated by investment analysts at Wells Fargo & Co in a research note issued on Friday, AnalystRatings.com reports.

A number of other research firms have also recently commented on CPK. Sidoti assumed coverage on shares of Chesapeake Utilities in a report on Thursday, October 24th. They set a “buy” rating and a $108.00 price target on the stock. Zacks Investment Research cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. ValuEngine cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Maxim Group set a $110.00 price target on shares of Chesapeake Utilities and gave the company a “buy” rating in a report on Friday, October 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $100.65.

Shares of NYSE:CPK traded down $1.15 during trading on Friday, reaching $88.02. 79,325 shares of the stock traded hands, compared to its average volume of 59,471. The stock has a 50-day moving average of $93.74 and a two-hundred day moving average of $93.39. Chesapeake Utilities has a 52-week low of $77.20 and a 52-week high of $97.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.22 and a current ratio of 0.24. The stock has a market cap of $1.48 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 3.46 and a beta of 0.15.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Chesapeake Utilities had a net margin of 8.62% and a return on equity of 11.30%. The firm had revenue of $92.63 million for the quarter, compared to analysts’ expectations of $170.20 million. Sell-side analysts expect that Chesapeake Utilities will post 3.72 earnings per share for the current year.

In related news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $94.41, for a total value of $236,025.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 2,858 shares of company stock worth $269,817 in the last 90 days. 4.18% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CPK. Price T Rowe Associates Inc. MD raised its position in Chesapeake Utilities by 1.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,281,339 shares of the utilities provider’s stock worth $216,773,000 after acquiring an additional 43,274 shares during the period. BlackRock Inc. raised its position in Chesapeake Utilities by 2.4% in the second quarter. BlackRock Inc. now owns 1,353,148 shares of the utilities provider’s stock worth $128,576,000 after acquiring an additional 31,273 shares during the period. Vanguard Group Inc. raised its position in Chesapeake Utilities by 5.3% in the second quarter. Vanguard Group Inc. now owns 1,038,030 shares of the utilities provider’s stock worth $98,633,000 after acquiring an additional 52,523 shares during the period. Northern Trust Corp raised its position in Chesapeake Utilities by 1.8% in the second quarter. Northern Trust Corp now owns 214,292 shares of the utilities provider’s stock worth $20,363,000 after acquiring an additional 3,813 shares during the period. Finally, Boston Trust Walden Corp raised its position in Chesapeake Utilities by 0.6% in the third quarter. Boston Trust Walden Corp now owns 166,586 shares of the utilities provider’s stock worth $15,879,000 after acquiring an additional 987 shares during the period. Institutional investors own 65.55% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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