5 Best Utility Stocks to Invest In

In this article, we discuss the 5 best utility stocks to invest in. If you want to read our detailed analysis of these stocks, go directly to the 15 Best Utility Stocks to Invest In.

5. Chesapeake Utilities Corporation (NYSE: CPK)

Number of Hedge Fund Holders: 42

Chesapeake Utilities Corporation (NYSE:CPK) ranks 5th on the 15 best utility stocks to invest in. The diversified energy firm based in Delaware distributes natural gas and propane gas. Chesapeake Utilities Corporation (NYSE:CPK) has over 60,000 customers in Delaware and Maryland.

In 2020, Chesapeake Utilities Corporation (NYSE:CPK) acquired Western Natural Gas Company, enabling the company to expand its operations to Florida. Shares of CPK jumped 45% in the last 12 months.

On May 6th, Maxim analyst Tate Sullivan raised Chesapeake Utilities Corporation’s (NYSE:CPK) price target to $135 from $121 and ket its Buy rating on the stock. 

The company has a market cap of $2.14 billion. In the first quarter of 2021, Chesapeake Utilities Corporation (NYSE:CPK) had an EPS of $1.96, beating estimates of $1.83. In the first quarter, the company’s revenue was $191.19 million, beating revenue estimates by $7.56 million. 

At the end of the first quarter of 2021, 42 hedge funds in the database of Insider Monkey held stakes worth $1.82 billion in Chesapeake Utilities Corporation (NYSE:CPK).