Chesapeake Utilities (NYSE:CPK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Chesapeake Utilities (NYSE:CPK) from a sell rating to a hold rating in a report released on Friday morning.

Separately, Guggenheim raised their price objective on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Stock Down 1.0 %

NYSE:CPK opened at $121.73 on Friday. The stock’s fifty day moving average price is $122.18 and its two-hundred day moving average price is $121.78. 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 company has a market cap of $2.77 billion, a price-to-earnings ratio of 24.69 and a beta of 0.65. Chesapeake Utilities has a 52-week low of $98.25 and a 52-week high of $134.20.

Hedge Funds Weigh In On Chesapeake Utilities

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in Chesapeake Utilities by 11.6% during the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock worth $5,095,000 after purchasing an additional 4,262 shares in the last quarter. HighTower Advisors LLC increased its holdings in Chesapeake Utilities by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 130 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Chesapeake Utilities by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock worth $35,760,000 after purchasing an additional 14,430 shares in the last quarter. Quest Partners LLC bought a new position in Chesapeake Utilities during the 3rd quarter worth about $966,000. Finally, Systematic Financial Management LP bought a new position in Chesapeake Utilities during the 3rd quarter worth about $804,000. Institutional investors own 83.11% of the company’s stock.

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.