Maxim Group analyst Tate Sullivan has reiterated their bullish stance on CPK stock, giving a Buy rating yesterday.
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Tate Sullivan has given his Buy rating due to a combination of factors including Chesapeake Utilities’ strong customer growth and financial performance. The company reported a significant increase in customer numbers, surpassing expectations, and maintained its earnings guidance through 2028, indicating a stable growth trajectory. Additionally, Chesapeake Utilities increased its capital expenditure guidance for 2025, reflecting its commitment to expanding natural gas delivery projects, which is expected to drive future growth.
Furthermore, the company’s revenue and earnings per share for the second quarter of 2025 exceeded forecasts, showcasing its robust operational performance. The equity-to-capitalization ratio was slightly below the typical target for utility companies, but the company plans to address this through periodic equity raises. With a dividend increase and a favorable price-to-earnings ratio, Sullivan maintains a positive outlook on Chesapeake Utilities, supporting his Buy rating with a price target of $148.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $140.00 price target.
CPK’s price has also changed slightly for the past six months – from $123.000 to $123.610, which is a 0.50% increase.