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

Chesapeake Utilities (NYSE:CPK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other research analysts also recently issued reports on the stock. Barclays boosted their target price 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 lifted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One equities 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. Based on data from MarketBeat, Chesapeake Utilities presently has a consensus rating of “Hold” and an average target price of $123.00.

Chesapeake Utilities Trading Down 1.0 %

CPK stock traded down $1.19 during trading on Tuesday, hitting $122.87. The company had a trading volume of 51,646 shares, compared to its average volume of 76,885. The stock has a market cap of $2.80 billion, a PE ratio of 24.92 and a beta of 0.65. The business has a 50-day moving average of $124.27 and a 200-day moving average of $121.30. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities has a one year low of $98.25 and a one year high of $134.20.

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. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The business had revenue of $160.14 million for the quarter, compared to analysts’ expectations of $164.80 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Research analysts predict that Chesapeake Utilities will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chesapeake Utilities

Several institutional investors have recently bought and sold shares of CPK. Versant Capital Management Inc increased its position in Chesapeake Utilities by 2,018.2% in the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after buying an additional 222 shares during the last quarter. Assetmark Inc. lifted its position in shares of Chesapeake Utilities by 19.2% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after acquiring an additional 102 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Chesapeake Utilities during the 3rd quarter valued at $99,000. GAMMA Investing LLC lifted its holdings in Chesapeake Utilities by 64.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 405 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Chesapeake Utilities by 46.2% during the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock valued at $127,000 after buying an additional 331 shares during the period. Hedge funds and other institutional investors 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.