Chesapeake Utilities (NYSE:CPK) Shares Cross Above 200 Day Moving Average – Time to Sell?

Chesapeake Utilities Corporation (NYSE:CPK)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $128.40 and traded as high as $129.84. Chesapeake Utilities shares last traded at $128.9550, with a volume of 90,218 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. BTIG Research initiated coverage on Chesapeake Utilities in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Barclays set a $141.00 price objective on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued 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, Chesapeake Utilities presently has an average rating of “Moderate Buy” and an average price target of $141.00.

Chesapeake Utilities Price Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.55 and a current ratio of 0.62. The company has a fifty day moving average price of $126.48 and a two-hundred day moving average price of $128.40. The company has a market cap of $3.05 billion, a P/E ratio of 22.82 and a beta of 0.79.

Insider Activity at Chesapeake Utilities

In related news, COO Jeffery S. Sylvester sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $137.08, for a total value of $137,080.00. Following the completion of the transaction, the chief operating officer directly owned 11,916 shares of the company’s stock, valued at approximately $1,633,445.28. This trade represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffry M. Householder sold 7,500 shares of the company’s stock in a transaction 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 directly owned 56,916 shares in the company, valued at $7,213,533.84. This trade represents a 11.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,500 shares of company stock worth $2,355,265 in the last ninety days. Insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Chesapeake Utilities

A number of large investors have recently added to or reduced their stakes in CPK. Vanguard Group Inc. boosted its position in Chesapeake Utilities by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,020,146 shares of the utilities provider’s stock worth $252,033,000 after purchasing an additional 49,789 shares during the period. State Street Corp lifted its stake in shares of Chesapeake Utilities by 0.8% during the 2nd quarter. State Street Corp now owns 1,257,589 shares of the utilities provider’s stock worth $152,023,000 after buying an additional 9,556 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Chesapeake Utilities by 27.6% during the 3rd quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock worth $128,231,000 after buying an additional 205,742 shares during the period. Invesco Ltd. grew its stake in Chesapeake Utilities by 3.0% in the 3rd quarter. Invesco Ltd. now owns 590,793 shares of the utilities provider’s stock valued at $79,574,000 after buying an additional 16,993 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Chesapeake Utilities by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 554,714 shares of the utilities provider’s stock valued at $69,217,000 after acquiring an additional 6,808 shares during the period. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

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.