Chesapeake Utilities (NYSE:CPK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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. “

Separately, Sidoti started coverage on Chesapeake Utilities in a report on Wednesday, October 18th. They issued a “neutral” rating and a $85.00 price target on the stock.

Chesapeake Utilities (NYSE CPK) traded down $1.40 during trading on Wednesday, reaching $73.45. The company had a trading volume of 120,095 shares, compared to its average volume of 63,200. The company has a market capitalization of $1,240.00, a PE ratio of 27.41, a price-to-earnings-growth ratio of 3.71 and a beta of 0.27. Chesapeake Utilities has a fifty-two week low of $63.00 and a fifty-two week high of $86.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.44.

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $76.65, for a total transaction of $191,625.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas P. Hill, Jr. bought 1,000 shares of Chesapeake Utilities stock in a transaction on Thursday, December 21st. The shares were bought at an average price of $75.62 per share, for a total transaction of $75,620.00. The disclosure for this purchase can be found here. 4.16% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CPK. Ameritas Investment Partners Inc. raised its position in shares of Chesapeake Utilities by 11.9% during the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 148 shares during the period. Victory Capital Management Inc. raised its position in shares of Chesapeake Utilities by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,663 shares of the utilities provider’s stock worth $200,000 after purchasing an additional 398 shares during the period. Pitcairn Co. acquired a new stake in shares of Chesapeake Utilities during the third quarter worth about $201,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Chesapeake Utilities during the third quarter worth about $207,000. Finally, Symons Capital Management Inc. acquired a new stake in shares of Chesapeake Utilities during the third quarter worth about $223,000. Hedge funds and other institutional investors own 62.16% of the company’s stock.

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About Chesapeake Utilities

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

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