Chesapeake Utilities (NYSE:CPK) Stock Rating Lowered by Wall Street Zen

Chesapeake Utilities (NYSE:CPK) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

CPK has been the topic of several other reports. Barclays set a $141.00 price target on Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. BTIG Research started coverage on shares of Chesapeake Utilities in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.00.

Chesapeake Utilities Trading Down 1.1%

CPK stock opened at $124.97 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 22.12 and a beta of 0.80. The business has a fifty day simple moving average of $128.35 and a 200-day simple moving average of $127.90. Chesapeake Utilities has a 52 week low of $115.24 and a 52 week high of $140.59.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). Chesapeake Utilities had a return on equity of 9.03% and a net margin of 14.77%.The company had revenue of $179.60 million for the quarter, compared to analyst estimates of $167.30 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. On average, equities research analysts expect that Chesapeake Utilities will post 5.39 EPS for the current year.

Insider Buying and Selling

In other news, COO Jeffery S. Sylvester sold 1,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $137.08, for a total transaction of $137,080.00. Following the sale, the chief operating officer directly owned 11,916 shares of the company’s stock, valued at $1,633,445.28. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffry M. Householder sold 1,908 shares of the stock in a transaction on Friday, December 26th. The shares were sold at an average price of $125.83, for a total value of $240,083.64. Following the completion of the transaction, the chief executive officer owned 51,916 shares of the company’s stock, valued at $6,532,590.28. This trade represents a 3.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,500 shares of company stock worth $2,355,265 over the last quarter. Insiders own 2.68% of the company’s stock.

Institutional Trading of Chesapeake Utilities

Several institutional investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new position in Chesapeake Utilities in the 2nd quarter worth about $26,000. Geneos Wealth Management Inc. grew its stake 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 buying an additional 164 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in Chesapeake Utilities by 1,909.1% in the second quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock worth $27,000 after buying an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Chesapeake Utilities by 66.1% in the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 109 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

About Chesapeake Utilities

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.