StockNews.com Downgrades Chesapeake Utilities (NYSE:CPK) to Sell

StockNews.com lowered shares of Chesapeake Utilities (NYSE:CPK - Free Report) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

A number of other equities research analysts have also issued reports on CPK. Barclays boosted 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. Guggenheim lifted their price target on Chesapeake Utilities from $118.00 to $129.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $123.00.

Chesapeake Utilities Stock Down 0.7 %

NYSE:CPK traded down $0.88 during mid-day trading on Tuesday, reaching $122.23. The stock had a trading volume of 103,963 shares, compared to its average volume of 68,233. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 24.79 and a beta of 0.65. The stock's 50 day simple moving average is $123.77 and its two-hundred day simple moving average is $121.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities has a 1-year low of $98.25 and a 1-year high of $134.20.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping 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 business 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 earnings per share. Equities analysts anticipate that Chesapeake Utilities will post 5.39 EPS for the current 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 given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, December 16th. Chesapeake Utilities's dividend payout ratio is currently 51.93%.

Institutional Trading of Chesapeake Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPK. Renaissance Technologies LLC grew its position in Chesapeake Utilities by 40.4% in the 2nd quarter. Renaissance Technologies LLC now owns 26,050 shares of the utilities provider's stock worth $2,767,000 after purchasing an additional 7,500 shares during the last quarter. Squarepoint Ops LLC increased its stake in Chesapeake Utilities by 409.4% during the second quarter. Squarepoint Ops LLC now owns 13,580 shares of the utilities provider's stock valued at $1,442,000 after acquiring an additional 10,914 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Chesapeake Utilities by 6.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,955 shares of the utilities provider's stock worth $1,270,000 after acquiring an additional 677 shares during the period. Algert Global LLC acquired a new stake in shares of Chesapeake Utilities during the 2nd quarter worth approximately $238,000. Finally, Dana Investment Advisors Inc. increased its position in shares of Chesapeake Utilities by 2.3% during the second quarter. Dana Investment Advisors Inc. now owns 11,892 shares of the utilities provider's stock valued at $1,263,000 after purchasing an additional 268 shares during the period. Institutional investors and hedge funds own 83.11% of the company's stock.

About Chesapeake Utilities

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.