BB&T Capital Initiates Coverage on Chesapeake Utilities Corporation to Buy

BB&T Capital Initiates Coverage on Chesapeake Utilities Corporation(NYSE:CPK). The shares have been rated Buy. The rating by BB&T Capital was issued on Jun 22, 2016.

Chesapeake Utilities Corporation (CPK) made into the market gainers list on Mondays trading session with the shares advancing 2.58% or 1.62 points. Due to strong positive momentum, the stock ended at $64.48, which is also near the day’s high of $64.85. The stock began the session at $62.73 and the volume stood at 1,49,835 shares. The 52-week high of the shares is $67.364 and the 52 week low is $45.25. The company has a current market capitalization of $987 M and it has 1,53,08,467 shares in outstanding.

Chesapeake Utilities Corporation(CPK) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $146.30M. Analysts had an estimated revenue of $183.20M. Earnings per share were $1.33. Analysts had estimated an EPS of $1.50.

Several Insider Transactions has been reported to the SEC. On Mar 8, 2016, Elaine B. Bittner (Senior VP – Strategic Dev.) purchased 17 shares at $59.96 per share price.Also, On Mar 8, 2016, Beth W Cooper (Senior Vice President & CFO) purchased 3 shares at $59.96 per share price.On Mar 7, 2016, Thomas P Jr Hill (director) purchased 1,000 shares at $57.20 per share price, according to the Form-4 filing with the securities and exchange commission.

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company through its operating divisions and subsidiaries is engaged in various energy and other businesses. The Company provides natural gas distribution and transmission electric distribution and propane distribution service. The Company operates in Regulated Energy Unregulated Energy and Other. The Regulated Energy segment includes the Company’s natural gas distribution natural gas transmission and electric distribution operations. The Unregulated Energy segment includes its propane distribution propane wholesale marketing and natural gas marketing operations which are unregulated as to their rates and services. Other segment consists of unregulated subsidiaries that own real estate leased to Chesapeake.

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