Chesapeake Utilities (NYSE:CPK) Price Target Cut to $124.00 by Analysts at Barclays

Chesapeake Utilities (NYSE:CPK - Get Free Report) had its price objective dropped by investment analysts at Barclays from $125.00 to $124.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Barclays's target price suggests a potential downside of 5.78% from the stock's current price.

CPK has been the topic of several other research reports. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a research report on Tuesday, April 22nd. StockNews.com cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $122.67.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $131.61 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The stock has a market capitalization of $3.03 billion, a P/E ratio of 26.75 and a beta of 0.66. Chesapeake Utilities has a one year low of $102.64 and a one year high of $136.73. The business's 50 day simple moving average is $128.51 and its two-hundred day simple moving average is $125.30.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.67 by ($0.04). The firm had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same quarter in the prior year, the business posted $1.64 earnings per share. Analysts forecast that Chesapeake Utilities will post 5.39 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CPK. Barclays PLC boosted its holdings in Chesapeake Utilities by 342.4% in the third quarter. Barclays PLC now owns 37,048 shares of the utilities provider's stock worth $4,600,000 after purchasing an additional 28,673 shares during the period. Anchor Investment Management LLC lifted its stake in Chesapeake Utilities by 5.7% during the third quarter. Anchor Investment Management LLC now owns 23,473 shares of the utilities provider's stock valued at $2,915,000 after buying an additional 1,270 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Chesapeake Utilities during the 3rd quarter valued at $182,000. JPMorgan Chase & Co. boosted its position in Chesapeake Utilities by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider's stock worth $35,760,000 after acquiring an additional 14,430 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider's stock valued at $28,000 after buying an additional 222 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.