Essex Investment Management Co. LLC acquired a new stake in Chesapeake Utilities Co. (NYSE:CPK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 910 shares of the utilities provider’s stock, valued at approximately $74,000.
Several other hedge funds have also recently bought and sold shares of CPK. Quantamental Technologies LLC purchased a new position in Chesapeake Utilities in the fourth quarter worth $75,000. Howe & Rusling Inc. acquired a new stake in Chesapeake Utilities in the 4th quarter worth about $105,000. United Services Automobile Association acquired a new stake in Chesapeake Utilities in the 2nd quarter worth about $209,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Chesapeake Utilities in the 3rd quarter valued at about $263,000. Finally, New Jersey Better Educational Savings Trust acquired a new position in shares of Chesapeake Utilities in the 4th quarter valued at about $325,000. 65.34% of the stock is owned by institutional investors and hedge funds.
Shares of Chesapeake Utilities stock opened at $90.98 on Thursday. The firm has a market cap of $1.49 billion, a PE ratio of 28.93, a P/E/G ratio of 4.13 and a beta of 0.26. Chesapeake Utilities Co. has a 12-month low of $66.35 and a 12-month high of $93.40. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48.
Several equities analysts recently commented on the company. Zacks Investment Research raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Maxim Group initiated coverage on Chesapeake Utilities in a report on Wednesday, November 28th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Janney Montgomery Scott downgraded Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $92.24 price target for the company. in a report on Monday, December 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Chesapeake Utilities has a consensus rating of “Hold” and an average target price of $92.81.
About Chesapeake Utilities
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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