Chesapeake Utilities (NYSE:CPK) Price Target Raised to $134.00

Chesapeake Utilities (NYSE:CPK) had its price target hoisted by Wells Fargo & Company from $132.00 to $134.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 0.60% from the stock’s current price.

Other analysts also recently issued research reports about the company. Barclays set a $142.00 target price on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Chesapeake Utilities has a consensus rating of “Hold” and a consensus price target of $138.00.

Chesapeake Utilities Price Performance

CPK traded down $0.65 during trading on Monday, reaching $133.20. The stock had a trading volume of 77,397 shares, compared to its average volume of 158,590. The stock has a market cap of $3.21 billion, a PE ratio of 21.24 and a beta of 0.68. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.28 and a current ratio of 0.32. Chesapeake Utilities has a one year low of $118.88 and a one year high of $140.83. The business has a 50-day moving average of $127.35 and a 200-day moving average of $128.26.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%.The firm had revenue of $201.90 million for the quarter, compared to the consensus estimate of $198.91 million. During the same period last year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. As a group, equities research analysts anticipate that Chesapeake Utilities will post 6.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Kevin J. Webber sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the completion of the sale, the senior vice president owned 12,652 shares of the company’s stock, valued at $1,611,485.24. This represents a 13.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffry M. Householder sold 10,000 shares of Chesapeake Utilities stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $126.12, for a total transaction of $1,261,200.00. Following the completion of the transaction, the chief executive officer directly owned 63,001 shares in the company, valued at $7,945,686.12. This represents a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Chesapeake Utilities

A number of large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Chesapeake Utilities by 94.7% in the 2nd 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. boosted its stake in Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 164 shares during the last quarter. Entrust Financial LLC purchased a new stake in shares of Chesapeake Utilities during the fourth quarter worth $37,000. Versant Capital Management Inc raised its position in shares of Chesapeake Utilities by 38.8% in the second quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider’s stock valued at $37,000 after buying an additional 85 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Chesapeake Utilities by 66.1% in the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors 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.