NBC Securities Inc. bought a new stake in shares of Chesapeake Utilities Co. (NYSE:CPK – Free Report) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 534 shares of the utilities provider’s stock, valued at approximately $52,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPK. Quadrant Capital Group LLC raised its position in Chesapeake Utilities by 132.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 270 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 154 shares during the period. Point72 Middle East FZE purchased a new stake in Chesapeake Utilities in the 4th quarter worth about $48,000. Larson Financial Group LLC purchased a new stake in Chesapeake Utilities in the 3rd quarter worth about $59,000. Fifth Third Bancorp raised its position in Chesapeake Utilities by 198.4% in the 2nd quarter. Fifth Third Bancorp now owns 576 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 383 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Chesapeake Utilities in the 2nd quarter worth about $142,000. 74.80% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. LADENBURG THALM/SH SH began coverage on shares of Chesapeake Utilities in a research report on Thursday, October 12th. They issued a “buy” rating and a $100.00 price objective on the stock. Wells Fargo & Company raised shares of Chesapeake Utilities from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $115.00 to $100.00 in a research report on Monday, October 16th. StockNews.com lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, January 27th. Finally, Royal Bank of Canada raised shares of Chesapeake Utilities from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $111.00 to $123.00 in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.50.
Chesapeake Utilities Price Performance
NYSE CPK opened at $100.81 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.39 and a current ratio of 0.48. The firm’s 50 day moving average price is $102.72 and its 200-day moving average price is $102.45. Chesapeake Utilities Co. has a 52-week low of $83.79 and a 52-week high of $132.91. The company has a market cap of $1.79 billion, a PE ratio of 20.41 and a beta of 0.60.
Chesapeake Utilities 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.
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