Chesapeake Utilities (CPK) Gets a Hold Rating from Wells Fargo
In a report released yesterday, Sarah Akers from Wells Fargo maintained a Hold rating on Chesapeake Utilities (CPK). The company’s shares closed last Monday at $83.97.
According to TipRanks.com, Akers is a 4-star analyst with an average return of 8.2% and a 70.6% success rate. Akers covers the Utilities sector, focusing on stocks such as South Jersey Industries, Centerpoint Energy, and Dominion Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chesapeake Utilities with a $97.00 average price target, which is a 14.6% upside from current levels. In a report issued on July 23, RBC Capital also maintained a Hold rating on the stock with a $89.00 price target.
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Based on Chesapeake Utilities’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $153 million and net profit of $28.93 million. In comparison, last year the company earned revenue of $160 million and had a net profit of $28.66 million.
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Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity; and 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. The Unregulated Energy segment markets and sells propane, crude oil, and natural gas. The company was founded in 1947 and is headquartered in Dover, DE.