Zacks Investment Research downgraded shares of Chesapeake Utilities (NYSE:CPK) from a hold rating to a sell rating in a research report released on Wednesday.

According to Zacks, “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. “

Separately, Sidoti initiated coverage on shares of Chesapeake Utilities in a research note on Wednesday, October 18th. They set a neutral rating and a $85.00 price objective for the company.

Shares of Chesapeake Utilities (NYSE:CPK) traded down $1.10 during midday trading on Wednesday, reaching $72.65. 54,150 shares of the company traded hands, compared to its average volume of 54,013. Chesapeake Utilities has a one year low of $63.00 and a one year high of $86.35. The stock has a market cap of $1,190.00, a PE ratio of 27.11, a PEG ratio of 3.63 and a beta of 0.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.44.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 15th were paid a dividend of $0.325 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.30 annualized dividend and a yield of 1.79%. Chesapeake Utilities’s dividend payout ratio is presently 48.51%.

In related news, insider John R. Schimkaitis sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $76.65, for a total transaction of $191,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas P. Hill, Jr. bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was purchased at an average price of $75.62 per share, for a total transaction of $75,620.00. The disclosure for this purchase can be found here. 4.16% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its holdings in Chesapeake Utilities by 11.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,210 shares of the utilities provider’s stock valued at $990,000 after purchasing an additional 1,391 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in Chesapeake Utilities in the 3rd quarter valued at about $861,000. BNP Paribas Arbitrage SA boosted its holdings in Chesapeake Utilities by 75.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,809 shares of the utilities provider’s stock valued at $360,000 after purchasing an additional 2,065 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Chesapeake Utilities by 30.5% in the 3rd quarter. SG Americas Securities LLC now owns 15,389 shares of the utilities provider’s stock valued at $1,204,000 after purchasing an additional 3,594 shares during the last quarter. Finally, Martingale Asset Management L P boosted its holdings in Chesapeake Utilities by 3.0% in the 2nd quarter. Martingale Asset Management L P now owns 65,557 shares of the utilities provider’s stock valued at $4,914,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors own 62.16% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Chesapeake Utilities (CPK) Rating Lowered to Sell at Zacks Investment Research” was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://theolympiareport.com/2018/01/13/chesapeake-utilities-cpk-rating-lowered-to-sell-at-zacks-investment-research.html.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

Get a free copy of the Zacks research report on Chesapeake Utilities (CPK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.