StockNews.com Upgrades Chesapeake Utilities (NYSE:CPK) to Hold

Chesapeake Utilities (NYSE:CPK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, Guggenheim raised their price objective on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd.

Chesapeake Utilities Stock Up 2.5 %

Shares of NYSE:CPK opened at $130.37 on Friday. Chesapeake Utilities has a 12 month low of $98.32 and a 12 month high of $134.20. The firm has a market cap of $3.00 billion, a P/E ratio of 26.44 and a beta of 0.60. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average price is $122.93 and its two-hundred day moving average price is $122.87.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $215.00 million during the quarter, compared to the consensus estimate of $237.84 million. During the same quarter in the previous year, the business posted $1.64 earnings per share. As a group, research analysts forecast that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Chesapeake Utilities

Several institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in shares of Chesapeake Utilities by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the utilities provider’s stock worth $1,335,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Chesapeake Utilities by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,350 shares of the utilities provider’s stock worth $649,000 after acquiring an additional 100 shares in the last quarter. Assetmark Inc. lifted its position in Chesapeake Utilities by 19.2% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 102 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Chesapeake Utilities by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock valued at $791,000 after purchasing an additional 103 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Chesapeake Utilities by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,313 shares of the utilities provider’s stock valued at $281,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

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.