Chesapeake Utilities (NYSE:CPK) Rating Lowered to Sell at Wall Street Zen

Chesapeake Utilities (NYSE:CPK) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other brokerages have also recently weighed in on CPK. Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. Barclays set a $141.00 price target on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, BTIG Research assumed coverage on Chesapeake Utilities in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $135.00.

Chesapeake Utilities Stock Up 1.7%

NYSE CPK traded up $2.32 during trading on Friday, hitting $135.46. The stock had a trading volume of 128,185 shares, compared to its average volume of 119,766. Chesapeake Utilities has a 12 month low of $115.12 and a 12 month high of $140.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.36 and a current ratio of 0.42. The company’s 50-day moving average price is $130.64 and its two-hundred day moving average price is $125.99. The company has a market capitalization of $3.19 billion, a PE ratio of 24.15 and a beta of 0.79.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The business had revenue of $179.60 million during the quarter, compared to analyst estimates of $167.30 million. During the same quarter last year, the business earned $0.80 earnings per share. Chesapeake Utilities’s revenue for the quarter was up 12.1% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. As a group, sell-side analysts forecast that Chesapeake Utilities will post 5.39 EPS for the current year.

Insider Buying and Selling at Chesapeake Utilities

In other Chesapeake Utilities news, CFO Beth W. Cooper sold 5,000 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $132.15, for a total value of $660,750.00. Following the transaction, the chief financial officer directly owned 90,713 shares of the company’s stock, valued at $11,987,722.95. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Chesapeake Utilities

Institutional investors and hedge funds have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of Chesapeake Utilities in the 2nd quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its holdings in shares of Chesapeake Utilities by 292.9% in the 1st 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. JFS Wealth Advisors LLC raised its holdings in shares of Chesapeake Utilities by 1,909.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock worth $27,000 after buying an additional 210 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Chesapeake Utilities by 94.7% in the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Chesapeake Utilities by 77.4% in the third quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 130 shares during the last quarter. Institutional investors 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.