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 issued to investors on Thursday.

Separately, Guggenheim upped their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $123.00.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $126.92 on Thursday. The firm has a market capitalization of $2.89 billion, a PE ratio of 25.75 and a beta of 0.65. Chesapeake Utilities has a 52 week low of $98.32 and a 52 week high of $134.20. The firm’s 50-day simple moving average is $122.10 and its 200 day simple moving average is $122.26. 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 (NYSE:CPK) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The business had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter in the previous year, the firm posted $1.64 EPS. On average, equities research analysts predict that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities’s dividend payout ratio is presently 51.93%.

Institutional Trading of Chesapeake Utilities

A number of hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in Chesapeake Utilities by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the utilities provider’s stock valued at $1,335,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Chesapeake Utilities by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,350 shares of the utilities provider’s stock valued at $649,000 after purchasing an additional 100 shares during the period. Assetmark Inc. increased its stake in Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares during the last quarter. Arizona State Retirement System lifted its position in Chesapeake Utilities by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock worth $791,000 after buying an additional 103 shares during the period. Finally, Summit Investment Advisors Inc. boosted its stake in Chesapeake Utilities by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,313 shares of the utilities provider’s stock worth $281,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

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.