Chesapeake Utilities (NYSE:CPK) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Chesapeake Utilities (NYSE:CPK) from a hold rating to a sell rating in a research note released on Tuesday.

CPK has been the subject of several other research reports. Barclays increased their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Guggenheim raised their price target on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Trading Up 1.7 %

Shares of CPK stock opened at $123.21 on Tuesday. Chesapeake Utilities has a 52-week low of $98.25 and a 52-week high of $134.20. The company has a 50-day simple moving average of $123.97 and a two-hundred day simple moving average of $121.31. 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 $2.81 billion, a price-to-earnings ratio of 24.99 and a beta of 0.65.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The company had revenue of $160.14 million during the quarter, compared to the consensus estimate of $164.80 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same period last year, the business posted $0.69 earnings per share. Research analysts anticipate that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 16th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 2.08%. Chesapeake Utilities’s dividend payout ratio is presently 51.93%.

Institutional Trading of Chesapeake Utilities

Several hedge funds and other institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC grew its stake in Chesapeake Utilities by 9.5% in the 3rd quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider’s stock valued at $73,567,000 after buying an additional 51,164 shares in the last quarter. Barclays PLC grew its position in shares of Chesapeake Utilities by 342.4% in the third quarter. Barclays PLC now owns 37,048 shares of the utilities provider’s stock valued at $4,600,000 after purchasing an additional 28,673 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Chesapeake Utilities by 9.5% during the 3rd quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider’s stock valued at $37,320,000 after purchasing an additional 26,147 shares during the period. Riverwater Partners LLC purchased a new stake in Chesapeake Utilities during the 3rd quarter worth about $1,826,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Chesapeake Utilities by 31.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,561 shares of the utilities provider’s stock valued at $7,644,000 after buying an additional 14,607 shares in 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.