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

Chesapeake Utilities Co. (NYSE:CPK) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 548,600 shares, an increase of 7.2% from the August 31st total of 511,900 shares. Based on an average daily volume of 119,800 shares, the days-to-cover ratio is currently 4.6 days.

Chesapeake Utilities Stock Performance

Chesapeake Utilities stock opened at $123.32 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.75 billion, a PE ratio of 25.91 and a beta of 0.60. Chesapeake Utilities has a 12-month low of $83.79 and a 12-month high of $125.34. The business’s 50-day moving average price is $118.58 and its two-hundred day moving average price is $111.52.

Chesapeake Utilities (NYSE:CPK) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. During the same quarter in the prior year, the business earned $0.90 EPS. The business’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, analysts expect that Chesapeake Utilities will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, September 16th. Chesapeake Utilities’s payout ratio is 53.78%.

Analysts Set New Price Targets

Separately, Barclays boosted their target price on shares of Chesapeake Utilities from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Chesapeake Utilities has an average rating of “Hold” and an average target price of $111.20.

Insider Transactions at Chesapeake Utilities

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the transaction, the director now owns 8,363 shares of the company’s stock, valued at $949,702.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chesapeake Utilities

Several large investors have recently modified their holdings of CPK. Wealthspire Advisors LLC increased its holdings in Chesapeake Utilities by 0.3% in the first quarter. Wealthspire Advisors LLC now owns 29,251 shares of the utilities provider’s stock valued at $3,139,000 after purchasing an additional 95 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Chesapeake Utilities by 0.8% during the first quarter. Illinois Municipal Retirement Fund now owns 12,191 shares of the utilities provider’s stock worth $1,308,000 after acquiring an additional 99 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Chesapeake Utilities by 1.8% in the first quarter. New York State Teachers Retirement System now owns 5,657 shares of the utilities provider’s stock worth $607,000 after acquiring an additional 100 shares during the period. Tradewinds Capital Management LLC increased its position in Chesapeake Utilities by 10.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 100 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Chesapeake Utilities by 17.7% in the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 115 shares during the period. Institutional investors 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.