Chesapeake Utilities (NYSE:CPK) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Chesapeake Utilities (NYSE:CPKGet Rating) in a report issued on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

Several other equities research analysts have also recently commented on CPK. Wells Fargo & Company raised their target price on Chesapeake Utilities from $110.00 to $115.00 in a research note on Wednesday, December 14th. Guggenheim lifted their target price on Chesapeake Utilities from $112.00 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, March 8th. Finally, Royal Bank of Canada lifted their price target on Chesapeake Utilities from $131.00 to $133.00 and gave the stock a “sector perform” rating in a report on Tuesday.

Chesapeake Utilities Stock Performance

Shares of NYSE CPK opened at $127.99 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.53 and a quick ratio of 0.45. The stock’s fifty day moving average price is $123.63 and its two-hundred day moving average price is $121.19. Chesapeake Utilities has a one year low of $105.79 and a one year high of $142.39. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 25.34 and a beta of 0.59.

Insider Buying and Selling at Chesapeake Utilities

In related news, insider John R. Schimkaitis sold 371 shares of the business’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $125.00, for a total transaction of $46,375.00. Following the sale, the insider now directly owns 84,557 shares in the company, valued at approximately $10,569,625. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Chesapeake Utilities

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Middle East FZE purchased a new position in shares of Chesapeake Utilities in the 4th quarter worth about $48,000. Wipfli Financial Advisors LLC bought a new position in Chesapeake Utilities during the 3rd quarter valued at approximately $88,000. Assetmark Inc. raised its position in Chesapeake Utilities by 32.7% during the 3rd quarter. Assetmark Inc. now owns 796 shares of the utilities provider’s stock valued at $92,000 after purchasing an additional 196 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Chesapeake Utilities during the 2nd quarter valued at approximately $142,000. Finally, Heritage Wealth Management LLC bought a new position in shares of Chesapeake Utilities in the 2nd quarter worth approximately $173,000. 74.23% of the stock is currently owned by hedge funds and other institutional investors.

About Chesapeake Utilities

(Get Rating)

Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.

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