FourThought Financial Partners LLC Purchases New Position in Chesapeake Utilities Co. (NYSE:CPK)

FourThought Financial Partners LLC acquired a new stake in Chesapeake Utilities Co. (NYSE:CPK) in the 4th quarter, Holdings Channel reports. The fund acquired 38,167 shares of the utilities provider’s stock, valued at approximately $4,632,000.

Several other institutional investors and hedge funds have also made changes to their positions in CPK. Versant Capital Management Inc raised its position in Chesapeake Utilities by 2,018.2% in the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares during the period. KBC Group NV lifted its holdings in shares of Chesapeake Utilities by 46.2% during the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 331 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Chesapeake Utilities during the 3rd quarter worth $182,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Chesapeake Utilities in the 3rd quarter worth $202,000. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Performance

Chesapeake Utilities stock opened at $124.63 on Tuesday. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $2.84 billion, a P/E ratio of 25.28 and a beta of 0.65. The stock has a fifty day moving average price of $121.75 and a 200 day moving average price of $122.11. Chesapeake Utilities Co. has a 52 week low of $98.25 and a 52 week high of $134.20.

Wall Street Analysts Forecast Growth

CPK has been the topic of several recent analyst reports. Guggenheim boosted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.00.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.