Chesapeake Utilities (NYSE:CPK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Chesapeake Utilities (NYSE:CPK) from a sell rating to a hold rating in a report published on Saturday.

A number of other research analysts have also weighed in on CPK. Weiss Ratings lowered shares of Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 8th. Barclays set a $141.00 price target on Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Finally, BTIG Research assumed coverage on Chesapeake Utilities in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.00.

Chesapeake Utilities Stock Down 0.1%

Shares of NYSE CPK opened at $127.25 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.55. The stock has a market capitalization of $3.01 billion, a PE ratio of 22.52 and a beta of 0.79. Chesapeake Utilities has a one year low of $115.12 and a one year high of $140.59. The business’s fifty day moving average price is $133.11 and its 200-day moving average price is $127.13.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). The firm had revenue of $179.60 million during the quarter, compared to the consensus estimate of $167.30 million. Chesapeake Utilities had a net margin of 14.77% and a return on equity of 9.03%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. On average, equities research analysts anticipate that Chesapeake Utilities will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, December 15th. Chesapeake Utilities’s payout ratio is currently 48.50%.

Insider Activity

In other news, COO Jeffery S. Sylvester sold 1,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $137.08, for a total value of $137,080.00. Following the completion of the sale, the chief operating officer owned 11,916 shares of the company’s stock, valued at approximately $1,633,445.28. This represents a 7.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Beth W. Cooper sold 5,000 shares of Chesapeake Utilities stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $132.15, for a total transaction of $660,750.00. Following the completion of the transaction, the chief financial officer 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 SEC filing for this sale provides additional information. Insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CPK. Elevation Point Wealth Partners LLC bought a new stake in shares of Chesapeake Utilities in the 2nd quarter valued at about $26,000. JFS Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 210 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 164 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Chesapeake Utilities by 66.1% during the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 109 shares during the period. 83.11% of the stock is owned by institutional investors.

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.