Chesapeake Utilities (NYSE:CPK) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Chesapeake Utilities (NYSE:CPK – Get Rating) in a research report issued on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

A number of other equities analysts have also issued reports on CPK. Guggenheim increased their price objective on Chesapeake Utilities from $112.00 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday, March 8th. Royal Bank of Canada increased their price target on Chesapeake Utilities from $131.00 to $133.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on Chesapeake Utilities from $110.00 to $115.00 in a research note on Wednesday, December 14th.

Chesapeake Utilities Trading Up 1.1 %

NYSE:CPK opened at $127.99 on Thursday. The business’s 50-day simple moving average is $123.63 and its 200 day simple moving average is $121.19. Chesapeake Utilities has a one year low of $105.79 and a one year high of $142.39. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 25.34 and a beta of 0.59. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.45 and a current ratio of 0.53.

Insider Buying and Selling at Chesapeake Utilities

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 371 shares of the stock in a transaction on Monday, January 30th. The stock was sold at an average price of $125.00, for a total transaction of $46,375.00. Following the completion of the transaction, the insider now directly owns 84,557 shares of the company’s stock, valued at approximately $10,569,625. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chesapeake Utilities

A number of institutional investors and hedge funds have recently modified their holdings of CPK. JPMorgan Chase & Co. lifted its position in shares of Chesapeake Utilities by 22.5% during the 1st quarter. JPMorgan Chase & Co. now owns 111,072 shares of the utilities provider’s stock valued at $15,301,000 after acquiring an additional 20,416 shares during the last quarter. Raymond James & Associates lifted its position in shares of Chesapeake Utilities by 2.1% during the 1st quarter. Raymond James & Associates now owns 3,965 shares of the utilities provider’s stock valued at $546,000 after acquiring an additional 83 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Chesapeake Utilities by 8.3% in the first quarter. Citigroup Inc. now owns 15,453 shares of the utilities provider’s stock valued at $2,130,000 after purchasing an additional 1,186 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Chesapeake Utilities by 3.6% in the first quarter. Bank of Montreal Can now owns 12,012 shares of the utilities provider’s stock valued at $1,667,000 after purchasing an additional 413 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Chesapeake Utilities by 57.0% in the first quarter. MetLife Investment Management LLC now owns 9,373 shares of the utilities provider’s stock valued at $1,291,000 after purchasing an additional 3,402 shares in the last quarter. Institutional investors and hedge funds own 74.23% of the company’s stock.

About Chesapeake Utilities

(Get Rating)

Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.