November 30, 2016 - By Darrin Black
New York: Chesapeake Utilities Corporation (NYSE:CPK) coverage was initiated with a “Market Perform” rating by equity analysts at Wells Fargo. This was revealed to clients in an analyst report on Tuesday, 29 November.
Out of 4 analysts covering Chesapeake Utilities (NYSE:CPK), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Chesapeake Utilities has been the topic of 6 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, August 10 by Robert W. Baird. On Friday, June 24 the stock rating was upgraded by Hilliard Lyons to “Long-Term Buy”. The rating was downgraded by Robert W. Baird on Wednesday, March 2 to “Neutral”. Wells Fargo initiated the stock with “Market Perform” rating in Tuesday, November 29 report. The firm earned “Neutral” rating on Monday, August 10 by Janney Capital. The firm has “Neutral” rating by Hilliard Lyons given on Monday, August 10.
The stock increased 0.07% or $0.05 on November 29, hitting $67.3. Chesapeake Utilities Corporation (NYSE:CPK) has risen 11.78% since April 27, 2016 and is uptrending. It has outperformed by 6.55% 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 $10.95 million for 25.11 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 2016 Q2. 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.
Qs Llc accumulated 0.02% or 30,073 shares. The New York-based Tiaa Cref Investment Management has invested 0% in Chesapeake Utilities Corporation (NYSE:CPK). Arrow Financial Corporation holds 370 shares or 0.01% of its portfolio. Ladenburg Thalmann Serv Inc has 0% invested in the company for 1,349 shares. The Minnesota-based Us Bancorporation De has invested 0% in Chesapeake Utilities Corporation (NYSE:CPK). The California-based Blackrock Institutional Tru Na has invested 0% in Chesapeake Utilities Corporation (NYSE:CPK). Diam Ltd last reported 4,400 shares in the company. The Pennsylvania-based Susquehanna Gru Ltd Liability Partnership has invested 0% in Chesapeake Utilities Corporation (NYSE:CPK). Zebra Management Ltd Liability has 14,306 shares for 0.33% of their US portfolio. Miller Howard Investments Inc reported 19,962 shares or 0.02% of all its holdings. Virginia Retirement Et Al holds 0.01% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK) for 12,800 shares. Moreover, Morgan Stanley has 0% invested in Chesapeake Utilities Corporation (NYSE:CPK) for 14,338 shares. Panagora Asset Mgmt, a Massachusetts-based fund reported 6,376 shares. Highbridge Capital Mgmt Lc has 3,581 shares for 0% of their US portfolio. Fincl Bank Of America De holds 0% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK) for 26,255 shares.
Insider Transactions: Since September 26, 2016, the stock had 0 insider buys, and 1 insider sale for $31,311 net activity. 500 shares were sold by SCHIMKAITIS JOHN R, worth $31,311 on Monday, September 26.
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 24.92 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.”
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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By Darrin Black