BidaskClub upgraded shares of Chesapeake Utilities Corporation (NYSE:CPK) from a buy rating to a strong-buy rating in a report released on Saturday.

Separately, Zacks Investment Research cut Chesapeake Utilities Corporation from a hold rating to a sell rating in a research note on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $72.25.

Shares of Chesapeake Utilities Corporation (NYSE CPK) remained flat at $80.05 during mid-day trading on Friday. The company’s stock had a trading volume of 71,224 shares. The firm has a 50-day moving average of $77.96 and a 200 day moving average of $72.95. The stock has a market cap of $1.31 billion, a PE ratio of 31.12 and a beta of 0.27. Chesapeake Utilities Corporation has a one year low of $57.63 and a one year high of $81.10.

Chesapeake Utilities Corporation (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.18. The firm had revenue of $125.08 million during the quarter, compared to analysts’ expectations of $116.50 million. Chesapeake Utilities Corporation had a return on equity of 9.18% and a net margin of 7.40%. Chesapeake Utilities Corporation’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. On average, equities research analysts predict that Chesapeake Utilities Corporation will post $2.85 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.62%. Chesapeake Utilities Corporation’s dividend payout ratio is currently 50.78%.

In other news, CEO P. Mcmasters Michael sold 5,500 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $74.56, for a total value of $410,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its stake in Chesapeake Utilities Corporation by 11.9% in the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after buying an additional 148 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Chesapeake Utilities Corporation by 36.7% in the first quarter. Victory Capital Management Inc. now owns 2,265 shares of the utilities provider’s stock worth $157,000 after buying an additional 608 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Chesapeake Utilities Corporation by 255.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,744 shares of the utilities provider’s stock worth $190,000 after buying an additional 1,973 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Chesapeake Utilities Corporation by 1.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,812 shares of the utilities provider’s stock worth $194,000 after buying an additional 46 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Chesapeake Utilities Corporation during the first quarter worth approximately $204,000. 59.73% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Corporation Company Profile

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

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