Chesapeake Utilities Co. (NYSE:CPK) Short Interest Update

Chesapeake Utilities Co. (NYSE:CPK) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 343,200 shares, a decrease of 8.0% from the October 15th total of 373,200 shares. Based on an average trading volume of 89,600 shares, the short-interest ratio is currently 3.8 days.

Analysts Set New Price Targets

CPK has been the subject of several analyst reports. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Barclays raised their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th.

Chesapeake Utilities Stock Up 1.9 %

Shares of CPK traded up $2.37 during mid-day trading on Monday, hitting $129.34. 95,084 shares of the company’s stock were exchanged, compared to its average volume of 113,134. The firm has a fifty day moving average of $121.83 and a two-hundred day moving average of $115.58. Chesapeake Utilities has a twelve month low of $90.21 and a twelve month high of $129.54. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 26.24 and a beta of 0.61. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.93%.

Institutional Investors Weigh In On Chesapeake Utilities

A number of hedge funds have recently made changes to their positions in the company. Sei Investments Co. boosted its stake in Chesapeake Utilities by 18.6% during the 1st quarter. Sei Investments Co. now owns 46,278 shares of the utilities provider’s stock worth $4,965,000 after acquiring an additional 7,247 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Chesapeake Utilities by 42.8% in the first quarter. Russell Investments Group Ltd. now owns 40,720 shares of the utilities provider’s stock valued at $4,369,000 after purchasing an additional 12,214 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Chesapeake Utilities by 19.3% in the first quarter. Avantax Advisory Services Inc. now owns 4,628 shares of the utilities provider’s stock valued at $497,000 after acquiring an additional 750 shares during the period. Vanguard Group Inc. boosted its position in shares of Chesapeake Utilities by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock valued at $199,471,000 after acquiring an additional 118,878 shares during the period. Finally, Cynosure Group LLC bought a new stake in Chesapeake Utilities during the first quarter worth about $314,000. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.