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

Chesapeake Utilities (NYSE:CPK) had its price target increased by analysts at Barclays from $118.00 to $124.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 4.65% from the stock’s previous close.

Chesapeake Utilities Price Performance

Shares of CPK stock traded down $4.10 during trading hours on Monday, reaching $118.49. The company had a trading volume of 71,706 shares, compared to its average volume of 116,937. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.32 and a current ratio of 0.38. The stock has a fifty day moving average of $118.78 and a 200-day moving average of $111.90. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 24.89 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 issued its earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $194.70 million. Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. Chesapeake Utilities’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. On average, equities analysts anticipate that Chesapeake Utilities will post 5.39 earnings per share for the current year.

Insider Buying and Selling at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $113.56, for a total value of $1,094,037.04. Following the transaction, the director now directly owns 8,363 shares in the company, valued at approximately $949,702.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.68% of the company’s stock.

Institutional Trading of Chesapeake Utilities

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC increased its stake in Chesapeake Utilities by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock worth $31,000 after buying an additional 146 shares during the period. GAMMA Investing LLC lifted its holdings in Chesapeake Utilities by 180.1% during the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after buying an additional 407 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after acquiring an additional 115 shares in the last quarter. Spirit of America Management Corp NY increased its holdings in shares of Chesapeake Utilities by 81.8% in the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 450 shares during the last quarter. Finally, Tradewinds Capital Management LLC raised its position in shares of Chesapeake Utilities by 10.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 100 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

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.