Chesapeake Utilities (NYSE:CPK) Downgraded to Sell Rating by Wall Street Zen

Chesapeake Utilities (NYSE:CPK - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Wednesday.

Other research analysts have also recently issued reports about the stock. Barclays decreased their price objective on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th.

Chesapeake Utilities Stock Up 0.9%

Shares of Chesapeake Utilities stock traded up $1.08 during midday trading on Wednesday, hitting $122.11. The company had a trading volume of 65,587 shares, compared to its average volume of 106,008. The company has a 50 day moving average of $128.31 and a 200 day moving average of $126.06. The stock has a market capitalization of $2.85 billion, a P/E ratio of 24.77 and a beta of 0.71. Chesapeake Utilities has a 52-week low of $102.64 and a 52-week high of $136.73. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $298.70 million for the quarter, compared to the consensus estimate of $248.45 million. During the same period last year, the business earned $2.10 EPS. Chesapeake Utilities's revenue was up 21.6% on a year-over-year basis. On average, equities analysts predict that Chesapeake Utilities will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chesapeake Utilities

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Chesapeake Utilities in the first quarter worth about $206,000. Intech Investment Management LLC lifted its position in shares of Chesapeake Utilities by 24.2% during the 1st quarter. Intech Investment Management LLC now owns 10,866 shares of the utilities provider's stock valued at $1,396,000 after buying an additional 2,120 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Chesapeake Utilities by 1.5% during the 1st quarter. Anchor Investment Management LLC now owns 24,577 shares of the utilities provider's stock valued at $3,156,000 after acquiring an additional 365 shares during the period. Finally, Jane Street Group LLC increased its holdings in Chesapeake Utilities by 1,714.7% in the 1st quarter. Jane Street Group LLC now owns 47,328 shares of the utilities provider's stock worth $6,078,000 after acquiring an additional 44,720 shares in the last quarter. 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.