StockNews.com Upgrades Chesapeake Utilities (NYSE:CPK) to Hold

Chesapeake Utilities (NYSE:CPK) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, Barclays lifted their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th.

Chesapeake Utilities Trading Up 2.6 %

NYSE:CPK opened at $124.63 on Friday. The business’s 50-day moving average is $120.86 and its two-hundred day moving average is $114.67. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities has a 12 month low of $83.79 and a 12 month high of $128.13. The firm has a market capitalization of $2.80 billion, a PE ratio of 25.28 and a beta of 0.61.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The company had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $194.70 million. During the same period last year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Research analysts predict that Chesapeake Utilities will post 5.39 earnings per share for the current fiscal year.

Insider Transactions at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of Chesapeake Utilities stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the sale, the director now directly owns 8,363 shares of the company’s stock, valued at approximately $949,702.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Chesapeake Utilities

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Chesapeake Utilities by 180.1% in the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after buying an additional 407 shares during the last quarter. Assetmark Inc. increased its holdings 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 buying an additional 102 shares during the last quarter. Fifth Third Bancorp increased its holdings in Chesapeake Utilities by 17.7% in the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after buying an additional 115 shares during the last quarter. nVerses Capital LLC bought a new stake in Chesapeake Utilities in the third quarter valued at about $99,000. Finally, Spirit of America Management Corp NY increased its holdings in Chesapeake Utilities by 81.8% in the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after buying an additional 450 shares during the last quarter. 83.11% of the stock is owned by 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.