Notable Runner: Will Chesapeake Utilities Corporation Run Out of Steam Soon?

Notable Runner: Will Chesapeake Utilities Corporation Run Out of Steam Soon?

The stock of Chesapeake Utilities Corporation (NYSE:CPK) hit a new 52-week high and has $71.82 target or 6.00% above today’s $67.75 share price. The 7 months bullish chart indicates low risk for the $1.11 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $71.82 price target is reached, the company will be worth $66.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 18,579 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 earnings per share, down 8.22% or $0.06 from last year’s $0.73 per share. CPK’s profit will be $10.98M for 25.28 P/E if the $0.67 EPS becomes a reality. After $0.29 actual earnings per share 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. Robert W. Baird upgraded the stock to “Neutral” rating in Monday, August 10 report. The stock has “Neutral” rating given by Robert W. Baird on Wednesday, March 2. Hilliard Lyons upgraded Chesapeake Utilities Corporation (NYSE:CPK) on Friday, June 24 to “Long-Term Buy” rating. The stock has “Market Perform” rating given by Wells Fargo on Tuesday, November 29. The rating was upgraded by Hilliard Lyons to “Neutral” on Monday, August 10. The rating was upgraded by Janney Capital to “Neutral” on Monday, August 10.

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 improved, 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.
Wedge Cap L Ltd Partnership Nc has 0.01% invested in the company for 7,611 shares. Qs Invsts Ltd Liability holds 0.02% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK) for 30,073 shares. State Street Corp holds 287,790 shares or 0% of its portfolio. Northern has 176,596 shares for 0% of their US portfolio. The New York-based Citigroup Incorporated has invested 0% in Chesapeake Utilities Corporation (NYSE:CPK). Ny State Common Retirement Fund holds 25,528 shares or 0% of its portfolio. Blackrock reported 3,577 shares or 0% of all its holdings. First Manhattan has 0.03% invested in the company for 77,025 shares. Jpmorgan Chase And has invested 0% of its portfolio in Chesapeake Utilities Corporation (NYSE:CPK). Moreover, Phocas Financial Corporation has 0.74% invested in Chesapeake Utilities Corporation (NYSE:CPK) for 152,631 shares. Telemus Ltd Limited Liability Company last reported 3,062 shares in the company. Deutsche Fincl Bank Ag reported 14,877 shares or 0% of all its holdings. Public Employees Retirement Association Of Colorado accumulated 7,093 shares or 0% of the stock. Virginia Retirement Et Al reported 12,800 shares or 0.01% of all its holdings. Goldman Sachs Grp accumulated 0% or 6,359 shares.

Insider Transactions: Since September 26, 2016, the stock had 0 insider buys, and 1 sale for $31,311 net activity. $31,311 worth of Chesapeake Utilities Corporation (NYSE:CPK) shares were sold by SCHIMKAITIS JOHN R.

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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