Chesapeake Utilities: Solid Growth Outlook, Enhanced Capital Plans, and Valuation Upside Support Buy Rating and $160 Target

Analyst Tate Sullivan of Maxim Group maintained a Buy rating on Chesapeake Utilities, with a price target of $160.00.

Tate Sullivan has given his Buy rating due to a combination of factors that highlight Chesapeake Utilities’ solid growth outlook and supportive fundamentals. The company slightly exceeded consensus EPS in 4Q25, delivered strong revenue growth, and continues to benefit from ongoing customer additions and returns on new energy infrastructure investments, including a promising natural gas distribution opportunity in Virginia.

At the same time, management reaffirmed an attractive 2028 EPS target that implies a healthy multi‑year earnings growth rate, and introduced higher‑than‑expected 2026 capital spending plans that should drive future regulated returns. Although the 2026 EPS forecast was trimmed due to project timing and regulatory processes, the upward revision to 2027 EPS, the stable and growing dividend, and a valuation near 21x forward earnings underpin Sullivan’s view that the current share price offers appealing upside potential, supporting his Buy recommendation and $160 price target.

In another report released on February 26, TipRanks – PerPlexity also upgraded the stock to a Buy with a $152.00 price target.

CPK’s price has also changed moderately for the past six months – from $123.080 to $137.160, which is a 11.44% increase.