Chesapeake Utilities (NYSE:CPK) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report issued on Monday, The Fly reports.

Other analysts also recently issued reports about the company. ValuEngine raised Chesapeake Utilities from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, August 13th. Finally, Wells Fargo & Co increased their price objective on Chesapeake Utilities from $82.00 to $86.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Chesapeake Utilities has a consensus rating of “Hold” and a consensus target price of $88.00.

Shares of Chesapeake Utilities stock traded up $0.35 on Monday, hitting $89.05. The company had a trading volume of 199,564 shares, compared to its average volume of 44,463. The company has a market cap of $1.46 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 4.30 and a beta of -0.01. Chesapeake Utilities has a 1 year low of $66.35 and a 1 year high of $90.90. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 0.48.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). The company had revenue of $136.66 million during the quarter, compared to analysts’ expectations of $140.85 million. Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%. research analysts anticipate that Chesapeake Utilities will post 3.45 EPS for the current year.

In other news, insider John R. Schimkaitis sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Chesapeake Utilities by 13.9% during the second quarter. BlackRock Inc. now owns 1,195,316 shares of the utilities provider’s stock valued at $95,566,000 after acquiring an additional 145,855 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Chesapeake Utilities by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 543,699 shares of the utilities provider’s stock valued at $43,469,000 after acquiring an additional 4,951 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Chesapeake Utilities by 9.3% during the second quarter. Renaissance Technologies LLC now owns 341,300 shares of the utilities provider’s stock valued at $27,287,000 after acquiring an additional 29,100 shares during the last quarter. Northern Trust Corp increased its position in shares of Chesapeake Utilities by 1.2% during the second quarter. Northern Trust Corp now owns 206,591 shares of the utilities provider’s stock valued at $16,516,000 after acquiring an additional 2,466 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Chesapeake Utilities by 131.4% during the first quarter. Millennium Management LLC now owns 138,449 shares of the utilities provider’s stock valued at $9,740,000 after acquiring an additional 78,623 shares during the last quarter. 63.67% of the stock is owned by institutional investors.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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