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

StockNews.com cut shares of Chesapeake Utilities (NYSE:CPK) from a hold rating to a sell rating in a report issued on Tuesday.

A number of other equities research analysts also recently commented on the company. Guggenheim increased their price objective on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays upped 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. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Trading Down 1.0 %

Shares of Chesapeake Utilities stock opened at $122.87 on Tuesday. The business has a fifty day simple moving average of $124.27 and a 200-day simple 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 firm has a market cap of $2.80 billion, a price-to-earnings ratio of 24.92 and a beta of 0.65. 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 posted its quarterly earnings data 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 net margin of 14.16% and a return on equity of 9.08%. The company had revenue of $160.14 million during the quarter, compared to analyst estimates of $164.80 million. During the same quarter last year, the firm posted $0.69 EPS. On average, equities analysts forecast that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

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

Institutional Investors Weigh In On Chesapeake Utilities

Several hedge funds have recently bought and sold shares of CPK. Versant Capital Management Inc increased its holdings in shares of Chesapeake Utilities by 2,018.2% in the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 222 shares during the period. Assetmark Inc. increased its stake in Chesapeake Utilities by 19.2% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after buying an additional 102 shares during the period. nVerses Capital LLC purchased a new stake in Chesapeake Utilities in the 3rd quarter worth approximately $99,000. GAMMA Investing LLC boosted its stake in shares of Chesapeake Utilities by 64.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock valued at $129,000 after buying an additional 405 shares during the period. Finally, KBC Group NV grew its holdings in shares of Chesapeake Utilities by 46.2% during the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 331 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

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.