Chesapeake Utilities Corporation (NYSE:CPK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $90.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.29% from the stock’s previous close.

According to Zacks, “Chesapeake Utilities Corporation is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses.Chesapeake’s three natural gas distribution divisions serve residential, commercial and industrial customers in southern Delaware, Maryland’s Eastern Shore and Florida. The Company’s natural gas transmission subsidiary operates an interstate pipeline system that transports gas from various points in Pennsylvania to Delaware and Maryland distribution divisions. “

A number of other equities analysts have also weighed in on the stock. Sidoti started coverage on shares of Chesapeake Utilities Corporation in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $85.00 price objective for the company. BidaskClub raised shares of Chesapeake Utilities Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Chesapeake Utilities Corporation currently has an average rating of “Hold” and an average target price of $76.40.

Chesapeake Utilities Corporation (NYSE CPK) traded down $0.30 during trading hours on Tuesday, hitting $80.15. 24,100 shares of the stock were exchanged, compared to its average volume of 48,169. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1,314.91, a price-to-earnings ratio of 29.91, a PEG ratio of 4.74 and a beta of 0.25. Chesapeake Utilities Corporation has a twelve month low of $62.15 and a twelve month high of $82.15.

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A number of hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC increased its position in Chesapeake Utilities Corporation by 1.2% during the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 34 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Chesapeake Utilities Corporation by 1.7% during the first quarter. Envestnet Asset Management Inc. now owns 2,812 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 46 shares during the last quarter. US Bancorp DE increased its position in Chesapeake Utilities Corporation by 0.8% during the first quarter. US Bancorp DE now owns 8,134 shares of the utilities provider’s stock worth $563,000 after purchasing an additional 68 shares during the last quarter. Albert D Mason Inc. increased its position in Chesapeake Utilities Corporation by 0.5% during the second quarter. Albert D Mason Inc. now owns 18,887 shares of the utilities provider’s stock worth $1,250,000 after purchasing an additional 90 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Chesapeake Utilities Corporation by 2.4% during the second quarter. Legal & General Group Plc now owns 3,865 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 90 shares during the last quarter. 60.38% of the stock is owned by hedge funds and other institutional investors.

About Chesapeake Utilities Corporation

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

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