Chesapeake Utilities (NYSE:CPK) Price Target Raised to $129.00 at Guggenheim

Chesapeake Utilities (NYSE:CPK) had its price target lifted by equities research analysts at Guggenheim from $118.00 to $129.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Guggenheim’s price objective points to a potential downside of 2.51% from the company’s current price.

Several other analysts have also recently commented on CPK. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Barclays boosted their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.00.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $132.32 on Friday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 26.84 and a beta of 0.61. Chesapeake Utilities has a 1 year low of $90.80 and a 1 year high of $133.00. The firm has a 50 day moving average of $122.62 and a 200-day moving average of $116.12. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87.

Hedge Funds Weigh In On Chesapeake Utilities

Large investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC raised its position in shares of Chesapeake Utilities by 33.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 57,163 shares of the utilities provider’s stock valued at $6,071,000 after acquiring an additional 14,417 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Chesapeake Utilities by 76.1% in the second quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock valued at $29,142,000 after buying an additional 118,561 shares during the period. UniSuper Management Pty Ltd bought a new position in Chesapeake Utilities during the first quarter worth about $583,000. Vanguard Group Inc. increased its stake in shares of Chesapeake Utilities by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock valued at $199,471,000 after acquiring an additional 118,878 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Chesapeake Utilities by 61.5% in the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock valued at $29,529,000 after acquiring an additional 104,850 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.

About Chesapeake Utilities

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.