Wells Fargo took its Chesapeake Utilities [CPK] rating to the equivalent of Underweight from Equal Weight, and the price target to $96, in a research note dated 2021-01-06. That figure represents around a -7.21% premium from where the company’s shares closed on Tuesday.
Is Chesapeake Utilities Corporation [NYSE:CPK] a Good Buy Right Now?
It should be noted that CPK technical indicators for short, intermediate as well as long term progress have placed an overall average of 56% as Buy. The average signal changed from 96% Buy in the last week and compares with 88% Buy in the past month. Data from Chesapeake Utilities Corporation’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.1 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.1 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.14 million shares.
CPK Price Performance
On Wall Street, Chesapeake Utilities Corporation [NYSE:CPK] finished Tuesday’s session down -2.00% at $103.54. The stock went up to $106.5299 at the same session while its lowest single day price was $102.6559. In the last five days, it saw a fall of about -3.93%, Chesapeake Utilities Corporation shares dropped by almost -4.32% since the beginning of the year. However, the share price has dropped to as low as -7.06% below its one year high. On 01/04/21, the company shares recorded $107.94, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $102.66. The company’s shares have inclined by 10.84% in the past year. The 50-day SMA achieved is $104.24 while the 200-day SMA is $89.73. Volume dropped to 61791.0 from 0.11 million in the previous session.
Chesapeake Utilities Corporation [CPK] Valuation Measures
Notably, Chesapeake Utilities Corporation [CPK] stock cannot be classified as a good candidate in the listing of underestimated low-priced Utilities – Regulated Gas companies to purchase soonest possible with the prevailing 12-month PE ratio of 25.82. The measure means the stock is exchanging at a premium as compared to the 16.91x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.69 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.50 which means CPK serve an unattractive investment opportunity compared to its competitors.
CPK Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 101.95 level, and in case of violation of this particular level, it will cause more drop to 100.37 level. On the upper level, 108.12 is still the key resistance. The stock may increase to the subsequent resistance at 105.83. The Relative Strength Index (RSI) pinned on the 14-day chart is 45.16, implying a neutral technical stance while the MACD stands at -1.16, meaning price will decrease in the next trading period. Percent R indicator moved to 85.02%, implying bearish price movement. Stochastic %K at 39.43% suggest selling the stock.
What is the short interest in Chesapeake Utilities Corporation?
Short interest in the Chesapeake Utilities Corporation stock has plunged, decreasing by -0.1 million shares to total 0.49 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.39 million, data from Yahoo Finance shows. The increase of 21.06% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.36% of the overall float for the stock.
Chesapeake Utilities Corporation’s Biggest Shareholders: Who Owns Chesapeake Utilities Corporation [CPK]?
Filings by T. Rowe Price Associates, Inc. showed that the firm now holds a total of 2,383,726 shares or roughly 13.65% of the outstanding CPK shares. This means their shares have increased by 3,194 from the 2,383,726 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $231,884,990. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 13.13% stake valued at $111,760,201 while First Trust Advisors LP added theirs at $75,967,552. During the last quarter, The Vanguard Group, Inc. raised 124,708 of its shares in Chesapeake Utilities Corporation while First Trust Advisors LP bought 202,354 shares. The SSgA Funds Management, Inc.’s holdings currently number 520,987 shares at $53942993.98. According to the firm’s last 13F report, Dimensional Fund Advisors LP shares in the company at filing stood at 511,017 shares, roughly $53,150,878.
CPK Earnings Forecast For The Current Quarter
Chesapeake Utilities Corporation [CPK] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $160.4M and an earnings per share of $1.15 for Dec 2020. Looking further ahead, the company is expected to report revenue of $180.17M at an EPS of $1.81 for Mar 2021. The estimates represent upside of 11.10% and 10.09% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CPK Earnings Estimates For The Current Year
For the financial year, Chesapeake Utilities Corporation [NYSE:CPK] is expected to bring in revenue of $510.21M. The returns are nearly $30.61 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for 2020, the estimate put it at 4.1, higher than that of FY19 by $0.2. Estimates put this year’s earnings growth at 5.10%, 10.20% for the next, and at an annual 4.74% over the next 5-year period. As for sales, forecasts are for an increase of 6.40% in the current fiscal year and a further 11.10% over the following year.