Chesapeake Utilities (CPK) Price Target Raised to $90.00

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Chesapeake Utilities (NYSE:CPK) had its price target boosted by Wells Fargo & Co from $84.00 to $90.00 in a report issued on Monday, The Fly reports. They currently have a market perform rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Chesapeake Utilities from a sell rating to a hold rating in a research report on Wednesday, November 14th. Maxim Group set a $100.00 price target on shares of Chesapeake Utilities and gave the company a buy rating in a research report on Tuesday, December 18th. Finally, Janney Montgomery Scott downgraded shares of Chesapeake Utilities from a buy rating to a neutral rating and set a $92.24 price target for the company. in a research report on Monday, December 17th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Chesapeake Utilities presently has a consensus rating of Hold and a consensus target price of $93.31.

NYSE CPK opened at $90.85 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.27. Chesapeake Utilities has a 1-year low of $67.10 and a 1-year high of $93.40. The company has a market capitalization of $1.51 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 4.18 and a beta of 0.26.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.63%. Chesapeake Utilities’s payout ratio is 44.71%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Chesapeake Utilities by 29.2% in the third quarter. BlackRock Inc. now owns 1,544,049 shares of the utilities provider’s stock valued at $129,545,000 after acquiring an additional 348,733 shares during the last quarter. Vanguard Group Inc. increased its stake in Chesapeake Utilities by 3.8% in the third quarter. Vanguard Group Inc. now owns 929,001 shares of the utilities provider’s stock valued at $77,943,000 after acquiring an additional 34,124 shares during the last quarter. Vanguard Group Inc increased its stake in Chesapeake Utilities by 3.8% in the third quarter. Vanguard Group Inc now owns 929,001 shares of the utilities provider’s stock valued at $77,943,000 after acquiring an additional 34,124 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Chesapeake Utilities by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 553,616 shares of the utilities provider’s stock valued at $45,008,000 after acquiring an additional 7,165 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Chesapeake Utilities by 4.0% in the fourth quarter. Bank of New York Mellon Corp now owns 422,514 shares of the utilities provider’s stock valued at $34,351,000 after acquiring an additional 16,203 shares during the last quarter. Institutional investors own 65.34% of the company’s stock.

About Chesapeake Utilities

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.

Read More: What is a stock buyback?

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