Chesapeake Utilities (NYSE:CPK) Price Target Raised to $129.00

Chesapeake Utilities (NYSE:CPK) had its price target upped by Guggenheim from $118.00 to $129.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

A number of other research firms have also recently issued reports on CPK. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Barclays upped their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $123.00.

Chesapeake Utilities Stock Up 1.5 %

CPK stock opened at $132.32 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 26.84 and a beta of 0.61. Chesapeake Utilities has a fifty-two week low of $90.80 and a fifty-two week high of $133.00. The stock has a fifty day moving average of $122.62 and a 200-day moving average of $116.15.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be paid a $0.64 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 1.93%. Chesapeake Utilities’s payout ratio is 51.93%.

Institutional Investors Weigh In On Chesapeake Utilities

Several hedge funds have recently bought and sold shares of CPK. Vanguard Group Inc. boosted its holdings in Chesapeake Utilities by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after acquiring an additional 118,878 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Chesapeake Utilities in the 1st quarter worth about $583,000. American International Group Inc. grew its position in Chesapeake Utilities by 1.9% during the 1st quarter. American International Group Inc. now owns 11,816 shares of the utilities provider’s stock valued at $1,268,000 after purchasing an additional 215 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Chesapeake Utilities by 9.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 34,511 shares of the utilities provider’s stock valued at $3,703,000 after purchasing an additional 3,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Chesapeake Utilities by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,042 shares of the utilities provider’s stock worth $2,258,000 after buying an additional 784 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.

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.