Chesapeake Utilities (NYSE:CPK – Get Free Report) was upgraded by equities researchers at Wells Fargo & Company to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
Several other research firms have also weighed in on CPK. Barclays set a $142.00 price objective on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Chesapeake Utilities currently has a consensus rating of “Hold” and an average target price of $137.00.
View Our Latest Analysis on CPK
Chesapeake Utilities Stock Performance
Chesapeake Utilities (NYSE:CPK – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 EPS for the quarter, topping the consensus estimate of $2.38 by $0.09. The business had revenue of $353.10 million for the quarter, compared to analysts’ expectations of $339.86 million. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Equities analysts anticipate that Chesapeake Utilities will post 6.51 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Chesapeake Utilities
Several large investors have recently made changes to their positions in CPK. EverSource Wealth Advisors LLC increased its stake in shares of Chesapeake Utilities by 94.7% in the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 164 shares during the period. Entrust Financial LLC acquired a new position in shares of Chesapeake Utilities during the fourth quarter valued at approximately $37,000. CIBC Private Wealth Group LLC increased its stake in shares of Chesapeake Utilities by 66.1% during the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 109 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of Chesapeake Utilities by 77.4% during the third quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.
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