Chesapeake Utilities (NYSE:CPK) Upgraded to "Strong-Buy" at LADENBURG THALM/SH SH

Chesapeake Utilities (NYSE:CPK - Get Free Report) was upgraded by equities researchers at LADENBURG THALM/SH SH to a "strong-buy" rating in a report released on Thursday, April 3rd,Zacks.com reports.

Separately, StockNews.com raised Chesapeake Utilities from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $122.67.

Chesapeake Utilities Stock Up 1.1 %

NYSE:CPK traded up $1.43 during mid-day trading on Thursday, reaching $128.20. The stock had a trading volume of 94,464 shares, compared to its average volume of 99,566. 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 cap of $2.95 billion, a P/E ratio of 26.02 and a beta of 0.66. The business's 50 day moving average is $125.95 and its 200 day moving average is $124.15. Chesapeake Utilities has a fifty-two week low of $98.32 and a fifty-two week high of $134.86.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings results 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 business 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 EPS. As a group, sell-side analysts predict that Chesapeake Utilities will post 5.39 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Chesapeake Utilities by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,934,574 shares of the utilities provider's stock worth $234,761,000 after acquiring an additional 44,692 shares during the period. State Street Corp lifted its position in Chesapeake Utilities by 0.9% in the third quarter. State Street Corp now owns 1,222,149 shares of the utilities provider's stock worth $152,513,000 after purchasing an additional 11,068 shares during the period. Geode Capital Management LLC boosted its stake in Chesapeake Utilities by 1.6% during the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider's stock worth $64,157,000 after buying an additional 8,358 shares in the last quarter. Jennison Associates LLC increased its holdings in Chesapeake Utilities by 2.7% in the 4th quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider's stock valued at $60,090,000 after buying an additional 12,889 shares during the period. Finally, Invesco Ltd. increased its holdings in Chesapeake Utilities by 3.0% in the 4th quarter. Invesco Ltd. now owns 464,679 shares of the utilities provider's stock valued at $56,389,000 after buying an additional 13,742 shares during the period. Institutional investors and hedge funds own 83.11% of the company's stock.

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.