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

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

A number of other research analysts have also recently weighed in on the company. Barclays lifted their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Guggenheim boosted their price objective on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a report 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.00.

Chesapeake Utilities Stock Performance

Chesapeake Utilities stock opened at $121.17 on Tuesday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 24.58 and a beta of 0.65. The stock has a fifty day moving average of $124.11 and a two-hundred day moving average of $121.30. Chesapeake Utilities has a fifty-two week low of $98.25 and a fifty-two week high of $134.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

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

Hedge Funds Weigh In On Chesapeake Utilities

A number of large investors have recently bought and sold shares of CPK. Jane Street Group LLC lifted its position in Chesapeake Utilities by 11.6% in the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock valued at $5,095,000 after purchasing an additional 4,262 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Chesapeake Utilities by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 130 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Chesapeake Utilities by 5.3% in the third quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock valued at $35,760,000 after buying an additional 14,430 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Chesapeake Utilities by 11.5% during the third quarter. Exchange Traded Concepts LLC now owns 53,121 shares of the utilities provider’s stock worth $6,596,000 after purchasing an additional 5,487 shares during the period. Finally, Quest Partners LLC purchased a new stake in Chesapeake Utilities during the third quarter valued at about $966,000. 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.