Chesapeake Utilities (NYSE:CPK) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Chesapeake Utilities (NYSE:CPK) from a sell rating to a hold rating in a research note published on Friday.

Separately, Guggenheim lifted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Chesapeake Utilities presently has a consensus rating of “Hold” and an average target price of $123.00.

Chesapeake Utilities Trading Down 1.0 %

Shares of CPK opened at $121.73 on Friday. The business has a 50-day moving average of $122.18 and a 200 day moving average of $121.74. Chesapeake Utilities has a fifty-two week low of $98.25 and a fifty-two week high of $134.20. The firm has a market cap of $2.77 billion, a P/E ratio of 24.69 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CPK. Creative Planning grew its holdings in shares of Chesapeake Utilities by 1.8% during the third quarter. Creative Planning now owns 7,706 shares of the utilities provider’s stock worth $957,000 after purchasing an additional 135 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Chesapeake Utilities during the third quarter worth about $99,000. AlphaMark Advisors LLC purchased a new position in shares of Chesapeake Utilities during the third quarter worth about $348,000. Trust Point Inc. grew its holdings in shares of Chesapeake Utilities by 3.2% during the third quarter. Trust Point Inc. now owns 4,919 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 153 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in shares of Chesapeake Utilities during the third quarter worth about $213,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.