The stock of Chesapeake Utilities Corporation (NYSE:CPK) reached all time high today, Nov, 29 and still has $73.41 target or 9.00% above today’s $67.35 share price. This indicates more upside for the $1.10B company. This technical setup was reported by Barchart.com. If the $73.41 PT is reached, the company will be worth $99.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 24,024 shares traded hands. Chesapeake Utilities Corporation (NYSE:CPK) has risen 11.60% since April 26, 2016 and is uptrending. It has outperformed by 6.34% the S&P500.
Analysts await Chesapeake Utilities Corporation (NYSE:CPK) to report earnings on February, 23. They expect $0.67 EPS, down 8.22% or $0.06 from last year’s $0.73 per share. CPK’s profit will be $10.94M for 25.13 P/E if the $0.67 EPS becomes a reality. After $0.29 actual EPS reported by Chesapeake Utilities Corporation for the previous quarter, Wall Street now forecasts 131.03% EPS growth.
Chesapeake Utilities Corporation (NYSE:CPK) Ratings Coverage
Out of 4 analysts covering Chesapeake Utilities (NYSE:CPK), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Chesapeake Utilities has been the topic of 6 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The rating was upgraded by Robert W. Baird to “Neutral” on Monday, August 10. The firm has “Market Perform” rating given on Tuesday, November 29 by Wells Fargo. Hilliard Lyons upgraded the shares of CPK in a report on Monday, August 10 to “Neutral” rating. As per Monday, August 10, the company rating was upgraded by Janney Capital. Hilliard Lyons upgraded the stock to “Long-Term Buy” rating in Friday, June 24 report. On Wednesday, March 2 the stock rating was downgraded by Robert W. Baird to “Neutral”.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 1.11 in Q2 2016. Its up 0.02, from 1.09 in 2016Q1. The ratio increased, as 19 funds sold all Chesapeake Utilities Corporation shares owned while 47 reduced positions. 21 funds bought stakes while 51 increased positions. They now own 8.26 million shares or 2.07% less from 8.44 million shares in 2016Q1.
Voya Invest Limited Liability Co has 0% invested in the company for 7,230 shares. Blackrock Fund Advsrs last reported 353,417 shares in the company. Moreover, Paradigm Asset Mngmt Limited Co has 0% invested in Chesapeake Utilities Corporation (NYSE:CPK) for 300 shares. Cibc Ww Mkts has 7,693 shares for 0% of their US portfolio. First Manhattan holds 77,025 shares or 0.03% of its portfolio. First Advsrs Limited Partnership holds 0% or 17,269 shares in its portfolio. Blackrock Gp Ltd last reported 11,906 shares in the company. Albert D Mason has invested 0.73% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK). Strs Ohio accumulated 10,500 shares or 0% of the stock. Gamco Investors Et Al holds 0% or 9,010 shares in its portfolio. The Massachusetts-based Adage Capital Llc has invested 0.01% in Chesapeake Utilities Corporation (NYSE:CPK). Clear Harbor Asset Lc last reported 1.23% of its portfolio in the stock. Swiss Bancorp holds 0% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK) for 24,650 shares. Ameriprise reported 113,992 shares or 0% of all its holdings. First Personal Services holds 67 shares or 0% of its portfolio.
Insider Transactions: Since September 26, 2016, the stock had 0 insider purchases, and 1 insider sale for $31,311 net activity. Shares for $31,311 were sold by SCHIMKAITIS JOHN R on Monday, September 26.
More notable recent Chesapeake Utilities Corporation (NYSE:CPK) news were published by: Prnewswire.com which released: “Chesapeake Utilities Corporation Employees Partner with Local Organizations to …” on November 23, 2016, also Prnewswire.com with their article: “Chesapeake Utilities Corporation Joins Utility Industry to Protect Customers …” published on November 15, 2016, Marketwatch.com published: “Chesapeake Utilities upgraded to long-term buy from neutral at Hilliard Lyons” on June 06, 2009. More interesting news about Chesapeake Utilities Corporation (NYSE:CPK) were released by: Prnewswire.com and their article: “Chesapeake Utilities Corporation Announces Common Stock Offering” published on September 21, 2016 as well as Prnewswire.com‘s news article titled: “Chesapeake Utilities Corporation Commences Operation of Eight Flags Energy …” with publication date: August 01, 2016.
CPK Company Profile
Chesapeake Utilities Corporation (Chesapeake), incorporated on November 12, 1947, is an energy company. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. The Firm provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service. The Firm operates through two divisions: Regulated Energy and Unregulated Energy. The Regulated Energy segment includes the Company’s natural gas distribution, natural gas transmission and electric distribution operations. The Unregulated Energy segment includes its propane distribution, propane wholesale marketing, natural gas marketing and natural gas supply, gathering and processing services, which are unregulated as to their rates and services. Also included in the Unregulated Energy segment are other unregulated energy services, such as energy-related merchandise sales and heating, ventilation and air conditioning plumbing and electrical services. The remainder of its activities is considered as Other businesses and eliminations, which consists of unregulated subsidiaries that own real estate leased to Chesapeake Utilities, as well as certain corporate costs not allocated to other operations.
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