Chesapeake Utilities (NYSE:CPK) Given New $129.00 Price Target at Guggenheim

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

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

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $133.18 on Friday. The stock has a market capitalization of $3.03 billion, a P/E ratio of 27.01 and a beta of 0.61. The business has a 50 day simple moving average of $122.81 and a two-hundred day simple moving average of $116.31. Chesapeake Utilities has a 12 month low of $90.80 and a 12 month high of $134.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be given a $0.64 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 1.92%. Chesapeake Utilities’s payout ratio is currently 51.93%.

Institutional Investors Weigh In On Chesapeake Utilities

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Chesapeake Utilities by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock valued at $199,471,000 after acquiring an additional 118,878 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Chesapeake Utilities by 76.1% in the second quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock valued at $29,142,000 after purchasing an additional 118,561 shares in the last quarter. Janus Henderson Group PLC increased its stake in Chesapeake Utilities by 61.5% during the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock worth $29,529,000 after buying an additional 104,850 shares during the period. Victory Capital Management Inc. lifted its holdings in Chesapeake Utilities by 170.5% during the 2nd quarter. Victory Capital Management Inc. now owns 124,716 shares of the utilities provider’s stock worth $13,245,000 after buying an additional 78,613 shares in the last quarter. Finally, Energy Income Partners LLC boosted its position in Chesapeake Utilities by 166.9% in the 1st quarter. Energy Income Partners LLC now owns 92,792 shares of the utilities provider’s stock valued at $9,957,000 after buying an additional 58,019 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.

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.