Recent Investment Analysts’ Ratings Updates for Chesapeake Utilities (CPK)

Chesapeake Utilities (NYSE: CPK) recently received a number of ratings updates from brokerages and research firms:

  • 4/3/2018 – Chesapeake Utilities was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
  • 4/2/2018 – Chesapeake Utilities was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $79.00 price target on the stock. According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
  • 3/27/2018 – Chesapeake Utilities was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
  • 3/26/2018 – Chesapeake Utilities was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $78.00 price target on the stock. According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
  • 3/19/2018 – Chesapeake Utilities was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
  • 3/19/2018 – Chesapeake Utilities was upgraded by analysts at Sidoti from a “neutral” rating to a “buy” rating.
  • 3/16/2018 – Chesapeake Utilities was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $79.00 price target on the stock. According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
  • 3/6/2018 – Chesapeake Utilities was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “
  • 3/5/2018 – Chesapeake Utilities had its “neutral” rating reaffirmed by analysts at Seaport Global Securities.

NYSE:CPK traded up $1.10 during midday trading on Monday, hitting $74.40. The company had a trading volume of 32,645 shares, compared to its average volume of 82,266. Chesapeake Utilities has a 52-week low of $66.35 and a 52-week high of $86.35. The firm has a market capitalization of $1,198.05, a PE ratio of 25.74, a price-to-earnings-growth ratio of 3.55 and a beta of 0.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.38 and a current ratio of 0.43.

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Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Wednesday, February 28th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $180.40 million during the quarter, compared to analyst estimates of $147.85 million. Chesapeake Utilities had a net margin of 9.41% and a return on equity of 10.10%. sell-side analysts forecast that Chesapeake Utilities will post 3.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, March 14th. Chesapeake Utilities’s dividend payout ratio is presently 44.98%.

In other Chesapeake Utilities news, insider Stephen C. Thompson sold 2,263 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $72.17, for a total value of $163,320.71. Following the completion of the sale, the insider now directly owns 73,605 shares of the company’s stock, valued at $5,312,072.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John R. Schimkaitis sold 2,500 shares of the business’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $71.00, for a total transaction of $177,500.00. The disclosure for this sale can be found here. Insiders own 4.16% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC raised its stake in shares of Chesapeake Utilities by 9.6% during the fourth quarter. William Blair Investment Management LLC now owns 332,218 shares of the utilities provider’s stock valued at $26,096,000 after acquiring an additional 29,037 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Chesapeake Utilities during the fourth quarter valued at about $548,000. Millennium Management LLC bought a new position in shares of Chesapeake Utilities during the fourth quarter valued at about $4,699,000. Northeast Financial Consultants Inc bought a new position in shares of Chesapeake Utilities during the fourth quarter valued at about $282,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of Chesapeake Utilities during the fourth quarter valued at about $352,000. 62.23% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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