Maxim Group Maintains a Buy Rating on Chesapeake Utilities (CPK)

By Carrie Williams

Maxim Group analyst Tate Sullivan maintained a Buy rating on Chesapeake Utilities (CPKResearch Report) today and set a price target of $115.00. The company’s shares closed last Monday at $89.98.

According to TipRanks.com, Sullivan is ranked 0 out of 5 stars with an average return of -7.7% and a 38.3% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Recon Technology, and Mistras Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chesapeake Utilities with a $105.00 average price target, implying a 5.1% upside from current levels. In a report released yesterday, Sidoti also maintained a Buy rating on the stock with a $110.00 price target.

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Based on Chesapeake Utilities’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $5.62 million. In comparison, last year the company had a net profit of $17.8 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 Regulated Energy and Unregulated Energy segments. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.