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

Chesapeake Utilities (NYSE:CPK) had its target price hoisted by research analysts at Guggenheim from $118.00 to $129.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Guggenheim’s price target would indicate a potential downside of 2.51% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Barclays upped their price target 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. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $123.00.

Chesapeake Utilities Stock Up 1.5 %

Chesapeake Utilities stock opened at $132.32 on Friday. Chesapeake Utilities has a twelve month low of $90.80 and a twelve month high of $133.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The firm has a market cap of $3.01 billion, a PE ratio of 26.84 and a beta of 0.61. The firm’s 50 day moving average price is $122.62 and its two-hundred day moving average price is $116.12.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CPK. Vanguard Group Inc. boosted its position in Chesapeake Utilities by 6.8% during the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after purchasing an additional 118,878 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of Chesapeake Utilities during the 1st quarter worth $583,000. American International Group Inc. grew its stake in Chesapeake Utilities by 1.9% in the 1st quarter. American International Group Inc. now owns 11,816 shares of the utilities provider’s stock valued at $1,268,000 after buying an additional 215 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Chesapeake Utilities by 9.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 34,511 shares of the utilities provider’s stock worth $3,703,000 after acquiring an additional 3,018 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Chesapeake Utilities by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,042 shares of the utilities provider’s stock worth $2,258,000 after acquiring an additional 784 shares during the last quarter. Institutional investors and hedge funds 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.