Barclays Lowers Chesapeake Utilities (NYSE:CPK) Price Target to $120.00

Chesapeake Utilities (NYSE:CPK - Get Free Report) had its target price lowered by investment analysts at Barclays from $124.00 to $120.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's price target indicates a potential downside of 3.40% from the stock's current price.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th.

Chesapeake Utilities Price Performance

Shares of CPK traded up $1.12 during mid-day trading on Tuesday, hitting $124.23. The company's stock had a trading volume of 5,631 shares, compared to its average volume of 106,679. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The firm has a 50-day simple moving average of $121.49 and a 200 day simple moving average of $124.69. The firm has a market capitalization of $2.90 billion, a P/E ratio of 22.96 and a beta of 0.65. Chesapeake Utilities has a 1-year low of $111.00 and a 1-year high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($0.06). Chesapeake Utilities had a net margin of 14.69% and a return on equity of 9.19%. The business had revenue of $298.70 million during the quarter, compared to analysts' expectations of $248.45 million. During the same quarter in the previous year, the company earned $2.10 EPS. Chesapeake Utilities's revenue for the quarter was up 21.6% on a year-over-year basis. Analysts predict that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management purchased a new position in shares of Chesapeake Utilities during the 1st quarter valued at approximately $26,000. Federated Hermes Inc. increased its stake in Chesapeake Utilities by 587.1% during the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after purchasing an additional 182 shares during the period. Geneos Wealth Management Inc. increased its stake in Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider's stock worth $28,000 after purchasing an additional 164 shares during the period. NBC Securities Inc. purchased a new stake in shares of Chesapeake Utilities during the first quarter worth approximately $30,000. Finally, Byrne Asset Management LLC increased its stake in Chesapeake Utilities by 114.3% in the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 144 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors.

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.

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