Chesapeake Utilities Co. (NYSE:CPK) announced a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Friday, December 14th will be given a dividend of 0.37 per share by the utilities provider on Monday, January 7th. This represents a $1.48 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, December 13th.
Chesapeake Utilities has raised its dividend by an average of 6.2% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Chesapeake Utilities has a dividend payout ratio of 43.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chesapeake Utilities to earn $3.67 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 40.3%.
NYSE:CPK opened at $82.64 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.30. Chesapeake Utilities has a one year low of $66.35 and a one year high of $93.09. The company has a market cap of $1.34 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 3.98 and a beta of 0.09.
Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Thursday, November 8th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.15). Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%. On average, analysts expect that Chesapeake Utilities will post 3.42 earnings per share for the current fiscal year.
CPK has been the topic of several recent research reports. Wells Fargo & Co lifted their target price on shares of Chesapeake Utilities from $82.00 to $86.00 and gave the stock a “market perform” rating in a research report on Monday, September 17th. Zacks Investment Research downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. ValuEngine downgraded shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Janney Montgomery Scott upgraded shares of Chesapeake Utilities from a “neutral” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Friday, November 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $88.33.
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
Further Reading: How to Profit and Limit Losses With Stop Orders
Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.