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

Chesapeake Utilities (NYSE:CPK - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a report issued on Wednesday.

CPK has been the subject of a number of other reports. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th. Barclays cut their price objective on Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th.

Chesapeake Utilities Price Performance

Shares of NYSE CPK opened at $124.94 on Wednesday. The stock has a market cap of $2.91 billion, a P/E ratio of 25.34 and a beta of 0.71. The firm's 50-day simple moving average is $128.70 and its 200 day simple moving average is $126.01. Chesapeake Utilities has a fifty-two week low of $102.64 and a fifty-two week high of $136.73. 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 (NYSE:CPK - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.06). The company had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm's quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 EPS. Equities analysts expect that Chesapeake Utilities will post 5.39 EPS for the current year.

Institutional Trading of Chesapeake Utilities

A number of large investors have recently added to or reduced their stakes in CPK. Belpointe Asset Management LLC bought a new stake in shares of Chesapeake Utilities during the 1st quarter worth $206,000. Intech Investment Management LLC increased its stake in Chesapeake Utilities by 24.2% in the 1st quarter. Intech Investment Management LLC now owns 10,866 shares of the utilities provider's stock worth $1,396,000 after purchasing an additional 2,120 shares in the last quarter. Anchor Investment Management LLC raised its holdings in Chesapeake Utilities by 1.5% during the 1st quarter. Anchor Investment Management LLC now owns 24,577 shares of the utilities provider's stock worth $3,156,000 after buying an additional 365 shares during the period. Jane Street Group LLC raised its holdings in shares of Chesapeake Utilities by 1,714.7% during the first quarter. Jane Street Group LLC now owns 47,328 shares of the utilities provider's stock valued at $6,078,000 after acquiring an additional 44,720 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Chesapeake Utilities by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,096 shares of the utilities provider's stock worth $10,158,000 after purchasing an additional 2,312 shares during the period. 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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