Wells Fargo Reaffirms Their Hold Rating on Chesapeake Utilities Corp (CPK)

By Austin Angelo

In a report released yesterday, Sarah Akers from Wells Fargo maintained a Hold rating on Chesapeake Utilities Corp (CPKResearch Report). The company’s shares closed on Friday at $93.76, close to its 52-week high of $95.60.

According to TipRanks.com, Akers is a 4-star analyst with an average return of 12.3% and a 93.8% success rate. Akers covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Dominion Resources, and Southwest Gas Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chesapeake Utilities Corp with a $100 average price target.

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Based on Chesapeake Utilities Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $28.66 million. In comparison, last year the company had a net profit of $26.86 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.