Chesapeake Utilities (NYSE:CPK) Hits New 1-Year Low on Analyst Downgrade

Chesapeake Utilities Co. (NYSE:CPK) hit a new 52-week low during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $125.00 to $124.00. Barclays currently has an equal weight rating on the stock. Chesapeake Utilities traded as low as $128.00 and last traded at $131.60, with a volume of 150789 shares. The stock had previously closed at $131.98.

A number of other equities research analysts have also recently commented on the company. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a research report on Tuesday, April 22nd. StockNews.com lowered Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $122.67.

Institutional Trading of Chesapeake Utilities

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of Chesapeake Utilities by 342.4% during the third quarter. Barclays PLC now owns 37,048 shares of the utilities provider’s stock valued at $4,600,000 after acquiring an additional 28,673 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Chesapeake Utilities in the 3rd quarter valued at $182,000. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 14,430 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Chesapeake Utilities by 2,018.2% during the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after buying an additional 222 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Chesapeake Utilities by 3.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,392 shares of the utilities provider’s stock valued at $545,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Up 0.4 %

The stock has a market capitalization of $3.04 billion, a PE ratio of 26.80 and a beta of 0.66. 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 company’s 50 day moving average price is $128.99 and its two-hundred day moving average price is $125.48.

Chesapeake Utilities (NYSE:CPK) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The company had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. During the same quarter in the prior year, the firm earned $1.64 earnings per share. As a group, analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were issued a $0.64 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.56 annualized dividend and a yield of 1.94%. Chesapeake Utilities’s payout ratio is 48.58%.

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.