Guggenheim Issues Positive Forecast for Chesapeake Utilities (NYSE:CPK) Stock Price

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

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

Chesapeake Utilities Stock Performance

Shares of NYSE:CPK traded up $1.93 during trading on Friday, hitting $132.32. The stock had a trading volume of 119,663 shares, compared to its average volume of 96,016. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities has a 12-month low of $90.80 and a 12-month high of $133.00. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 26.84 and a beta of 0.61. The stock has a 50-day simple moving average of $122.62 and a two-hundred day simple moving average of $116.12.

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 issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities's dividend payout ratio (DPR) is presently 51.93%.

Institutional Investors Weigh In On Chesapeake Utilities

A number of institutional investors have recently modified their holdings of the business. Assetmark Inc. lifted its position in shares of Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider's stock valued at $79,000 after buying an additional 102 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Chesapeake Utilities by 17.7% during the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider's stock valued at $81,000 after purchasing an additional 115 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Chesapeake Utilities by 2.4% during the third quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider's stock valued at $702,000 after purchasing an additional 130 shares in the last quarter. Creative Planning grew its position in shares of Chesapeake Utilities by 1.8% in the third quarter. Creative Planning now owns 7,706 shares of the utilities provider's stock valued at $957,000 after purchasing an additional 135 shares during the period. Finally, Trust Point Inc. increased its stake in shares of Chesapeake Utilities by 3.2% during the third quarter. Trust Point Inc. now owns 4,919 shares of the utilities provider's stock worth $611,000 after purchasing an additional 153 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

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.