Barclays Increases Chesapeake Utilities (NYSE:CPK) Price Target to $124.00

Chesapeake Utilities (NYSE:CPK) had its target price boosted by equities research analysts at Barclays from $118.00 to $124.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential upside of 5.48% from the company’s current price.

Chesapeake Utilities Stock Down 0.9 %

Shares of NYSE:CPK opened at $117.56 on Monday. The business has a 50-day moving average price of $118.77 and a 200 day moving average price of $112.08. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 24.70 and a beta of 0.61. Chesapeake Utilities has a 12-month low of $83.79 and a 12-month high of $125.34.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. Sell-side analysts expect that Chesapeake Utilities will post 5.39 EPS for the current year.

Insider Buying and Selling at Chesapeake Utilities

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of Chesapeake Utilities stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the transaction, the director now directly owns 8,363 shares of the company’s stock, valued at $949,702.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chesapeake Utilities

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Chesapeake Utilities by 64.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock valued at $129,000 after buying an additional 405 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Chesapeake Utilities by 7.2% in the 2nd quarter. Anchor Investment Management LLC now owns 22,203 shares of the utilities provider’s stock valued at $2,358,000 after buying an additional 1,499 shares during the period. Dana Investment Advisors Inc. boosted its stake in shares of Chesapeake Utilities by 2.3% in the 2nd quarter. Dana Investment Advisors Inc. now owns 11,892 shares of the utilities provider’s stock valued at $1,263,000 after buying an additional 268 shares during the period. Algert Global LLC purchased a new position in shares of Chesapeake Utilities in the 2nd quarter valued at about $238,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Chesapeake Utilities by 6.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,955 shares of the utilities provider’s stock valued at $1,270,000 after buying an additional 677 shares during the period. Hedge funds and other institutional investors 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.