Chesapeake Utilities (NYSE:CPK) Upgraded to “Strong-Buy” at LADENBURG THALM/SH SH

Chesapeake Utilities (NYSE:CPK) was upgraded by research analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Separately, StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.67.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $130.49 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The company has a market capitalization of $3.00 billion, a PE ratio of 26.47 and a beta of 0.66. The stock has a fifty day moving average of $125.63 and a 200-day moving average of $124.05. Chesapeake Utilities has a one year low of $98.32 and a one year high of $134.86.

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

Institutional Trading of Chesapeake Utilities

A number of hedge funds have recently made changes to their positions in CPK. Louisiana State Employees Retirement System increased its stake in Chesapeake Utilities by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the utilities provider’s stock valued at $1,335,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Chesapeake Utilities by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,350 shares of the utilities provider’s stock valued at $649,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System increased its stake 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 worth $791,000 after acquiring an additional 103 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Chesapeake Utilities by 4.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,313 shares of the utilities provider’s stock worth $281,000 after acquiring an additional 109 shares in the last quarter. Finally, Caprock Group LLC boosted its position in Chesapeake Utilities by 3.4% during the fourth quarter. Caprock Group LLC now owns 3,313 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 110 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

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.