Chesapeake Utilities (NYSE:CPK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Chesapeake Utilities (NYSE:CPK) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Separately, Guggenheim upped their price target on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Chesapeake Utilities currently has an average rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Trading Down 1.3 %

Shares of NYSE CPK opened at $123.56 on Wednesday. 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 has a 12 month low of $98.25 and a 12 month high of $134.20. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 25.06 and a beta of 0.65. The business has a fifty day simple moving average of $122.98 and a 200-day simple moving average of $121.60.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The company had revenue of $160.14 million during the quarter, compared to analyst estimates of $164.80 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same period in the prior year, the firm earned $0.69 earnings per share. Sell-side analysts predict that Chesapeake Utilities will post 5.39 EPS for the current year.

Hedge Funds Weigh In On Chesapeake Utilities

Institutional investors and hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its holdings in shares of Chesapeake Utilities by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the utilities provider’s stock worth $1,335,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Chesapeake Utilities by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,350 shares of the utilities provider’s stock worth $649,000 after buying an additional 100 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Chesapeake Utilities by 19.2% during 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. Arizona State Retirement System grew its holdings in shares of Chesapeake Utilities by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock valued at $791,000 after acquiring an additional 103 shares in the last quarter. Finally, Caprock Group LLC increased its stake in shares of Chesapeake Utilities by 3.4% in the fourth quarter. Caprock Group LLC now owns 3,313 shares of the utilities provider’s stock worth $404,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other 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.