TheStreet Downgrades Chesapeake Utilities (NYSE:CPK) to C+

TheStreet lowered shares of Chesapeake Utilities (NYSE:CPK) from a b rating to a c+ rating in a research note published on Monday morning, TheStreetRatingsTable reports.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Chesapeake Utilities from a hold rating to a buy rating and set a $102.00 price target for the company in a report on Tuesday, March 3rd. Sidoti cut their price target on shares of Chesapeake Utilities from $113.00 to $110.00 and set a buy rating for the company in a report on Thursday, February 27th. ValuEngine downgraded shares of Chesapeake Utilities from a buy rating to a hold rating in a report on Saturday, December 21st. Wells Fargo & Co cut their price target on shares of Chesapeake Utilities from $97.00 to $93.00 and set an equal weight rating for the company in a report on Monday, March 2nd. Finally, Maxim Group reaffirmed a buy rating and set a $115.00 price target on shares of Chesapeake Utilities in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $103.17.

NYSE CPK traded up $2.14 during trading on Monday, reaching $80.74. The company’s stock had a trading volume of 74,801 shares, compared to its average volume of 67,134. The company has a current ratio of 0.32, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 20.44 and a beta of 0.34. Chesapeake Utilities has a 12 month low of $69.47 and a 12 month high of $101.29. The firm has a 50 day moving average price of $92.69 and a 200 day moving average price of $93.42.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.10). The business had revenue of $131.97 million during the quarter, compared to the consensus estimate of $228.60 million. Chesapeake Utilities had a net margin of 11.17% and a return on equity of 10.73%. On average, equities analysts forecast that Chesapeake Utilities will post 4.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Thursday, March 12th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 44.26%.

In related news, insider John R. Schimkaitis sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $91.00, for a total transaction of $227,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas P. Hill, Jr. acquired 500 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $84.50 per share, with a total value of $42,250.00. The disclosure for this purchase can be found here. Corporate insiders own 4.18% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. FTB Advisors Inc. acquired a new position in Chesapeake Utilities during the 4th quarter worth approximately $26,000. Tower Research Capital LLC TRC acquired a new position in Chesapeake Utilities during the 3rd quarter worth approximately $85,000. FMR LLC increased its position in Chesapeake Utilities by 13.3% during the 4th quarter. FMR LLC now owns 1,268 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 149 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Chesapeake Utilities during the 4th quarter worth approximately $207,000. Finally, Denali Advisors LLC acquired a new position in Chesapeake Utilities during the 4th quarter worth approximately $240,000. Institutional investors and hedge funds own 65.99% of the company’s stock.

About Chesapeake Utilities

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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Analyst Recommendations for Chesapeake Utilities (NYSE:CPK)

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