Chesapeake Utilities (NYSE:CPK) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Chesapeake Utilities (NYSE:CPK) from a hold rating to a sell rating in a report released on Friday.

A number of other brokerages also recently weighed in on CPK. BTIG Research began coverage on shares of Chesapeake Utilities in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Barclays set a $141.00 price target on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.00.

Chesapeake Utilities Trading Down 1.1%

NYSE:CPK opened at $124.97 on Friday. The company has a market cap of $2.96 billion, a PE ratio of 22.12 and a beta of 0.80. The business’s 50 day moving average is $128.35 and its two-hundred day moving average is $127.86. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Chesapeake Utilities has a 52 week low of $115.24 and a 52 week high of $140.59.

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

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 15th were paid a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, December 15th. Chesapeake Utilities’s payout ratio is currently 48.50%.

Insider Transactions at Chesapeake Utilities

In related news, CEO Jeffry M. Householder sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $126.74, for a total transaction of $950,550.00. Following the sale, the chief executive officer owned 56,916 shares of the company’s stock, valued at $7,213,533.84. The trade was a 11.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $137,080.00. Following the completion of the sale, the chief operating officer directly owned 11,916 shares in the company, valued at $1,633,445.28. This represents a 7.74% 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 valued at $2,355,265 in the last quarter. 2.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chesapeake Utilities

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in shares of Chesapeake Utilities by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 12,783 shares of the utilities provider’s stock worth $1,594,000 after purchasing an additional 225 shares in the last quarter. Greenleaf Trust purchased a new position in Chesapeake Utilities during the 4th quarter worth approximately $204,000. Phocas Financial Corp. acquired a new stake in shares of Chesapeake Utilities in the fourth quarter worth $3,314,000. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Chesapeake Utilities by 9.6% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,692 shares of the utilities provider’s stock worth $2,582,000 after buying an additional 1,808 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Chesapeake Utilities by 3.0% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,924 shares of the utilities provider’s stock valued at $864,000 after buying an additional 203 shares in the last quarter. 83.11% of the stock is 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.