Rating Change: Is It Finally Time? Wells Fargo Starts Coverage On Chesapeake Utilities (NYSE:CPK)

November 29, 2016 - By Ruchi Gupta

Rating Change: Is It Finally Time? Wells Fargo Starts Coverage On Chesapeake Utilities (NYSE:CPK)

How Wells Fargo Rates Chesapeake Utilities (NYSE:CPK)

In analysts report issued to investors and clients today, Wells Fargo analysts has initiated Chesapeake Utilities (NYSE:CPK) coverage with “Market Perform” rating.

Chesapeake Utilities Corporation (NYSE:CPK) Ratings Coverage

Out of 3 analysts covering Chesapeake Utilities (NYSE:CPK), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Chesapeake Utilities has been the topic of 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. On Monday, August 10 the stock rating was upgraded by Hilliard Lyons to “Neutral”. The stock of Chesapeake Utilities Corporation (NYSE:CPK) earned “Neutral” rating by Janney Capital on Monday, August 10. Hilliard Lyons upgraded the shares of CPK in a report on Friday, June 24 to “Long-Term Buy” rating. The stock of Chesapeake Utilities Corporation (NYSE:CPK) has “Neutral” rating given on Wednesday, March 2 by Robert W. Baird. The company was upgraded on Monday, August 10 by Robert W. Baird.

It is down 11.60% since April 26, 2016 and is uptrending. It has outperformed by 6.34% the S&P500.

Analysts await Chesapeake Utilities Corporation (NYSE:CPK) to report earnings on February, 23. They expect $0.67 earnings per share, down 8.22% or $0.06 from last year’s $0.73 per share. CPK’s profit will be $10.96M for 25.09 P/E if the $0.67 EPS becomes a reality. After $0.29 actual earnings per share reported by Chesapeake Utilities Corporation for the previous quarter, Wall Street now forecasts 131.03% EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.11 in Q2 2016. Its up 0.02, from 1.09 in 2016Q1. The ratio increased, as 19 funds sold all Chesapeake Utilities Corporation shares owned while 47 reduced positions. 21 funds bought stakes while 51 increased positions. They now own 8.26 million shares or 2.07% less from 8.44 million shares in 2016Q1.

The Georgia-based Advisory Ser Ltd Limited Liability Company has invested 0.04% in Chesapeake Utilities Corporation (NYSE:CPK). Dana Invest, a Wisconsin-based fund reported 28,079 shares. California State Teachers Retirement has 0% invested in the company for 30,744 shares. Northern last reported 176,596 shares in the company. Gabelli Funds Ltd Limited Liability Company holds 122,400 shares or 0.05% of its portfolio. First Advsrs Limited Partnership holds 0% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK) for 17,269 shares. Cibc Mkts holds 7,693 shares or 0% of its portfolio. Alliancebernstein L P accumulated 0% or 21,362 shares. Blackrock Mngmt Lc holds 0.01% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK) for 60,212 shares. Etrade Cap Mngmt Ltd reported 11,307 shares or 0.04% of all its holdings. Deutsche Commercial Bank Ag has invested 0% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK). Metropolitan Life Ins last reported 10,495 shares in the company. Moreover, Adage Ltd Com has 0.01% invested in Chesapeake Utilities Corporation (NYSE:CPK) for 46,575 shares. First Personal Financial Serv holds 0% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK) for 67 shares. Hancock Holding Communication owns 21,324 shares or 0.06% of their US portfolio.

Insider Transactions: Since September 26, 2016, the stock had 0 buys, and 1 sale for $31,311 net activity. $31,311 worth of Chesapeake Utilities Corporation (NYSE:CPK) was sold by SCHIMKAITIS JOHN R.

Chesapeake Utilities Corporation is an energy company. The company has a market cap of $1.10 billion. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. It has a 24.9 P/E ratio. It provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.

According to Zacks Investment Research, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions.”

CPK Company Profile

Chesapeake Utilities Corporation (Chesapeake), incorporated on November 12, 1947, is an energy company. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. The Firm provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service. The Firm operates through two divisions: Regulated Energy and Unregulated Energy. The Regulated Energy segment includes the Company’s natural gas distribution, natural gas transmission and electric distribution operations. The Unregulated Energy segment includes its propane distribution, propane wholesale marketing, natural gas marketing and natural gas supply, gathering and processing services, which are unregulated as to their rates and services. Also included in the Unregulated Energy segment are other unregulated energy services, such as energy-related merchandise sales and heating, ventilation and air conditioning plumbing and electrical services. The remainder of its activities is considered as Other businesses and eliminations, which consists of unregulated subsidiaries that own real estate leased to Chesapeake Utilities, as well as certain corporate costs not allocated to other operations.

More notable recent Chesapeake Utilities Corporation (NYSE:CPK) news were published by: Prnewswire.com which released: “Chesapeake Utilities Corporation Employees Partner with Local Organizations to …” on November 23, 2016, also Prnewswire.com with their article: “Chesapeake Utilities Corporation Joins Utility Industry to Protect Customers …” published on November 15, 2016, Marketwatch.com published: “Chesapeake Utilities upgraded to long-term buy from neutral at Hilliard Lyons” on June 06, 2009. More interesting news about Chesapeake Utilities Corporation (NYSE:CPK) were released by: Prnewswire.com and their article: “Chesapeake Utilities Corporation Announces Common Stock Offering” published on September 21, 2016 as well as Prnewswire.com‘s news article titled: “Chesapeake Utilities Corporation Commences Operation of Eight Flags Energy …” with publication date: August 01, 2016.

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