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

Chesapeake Utilities Co. (NYSE:CPK) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 459,500 shares, a growth of 26.9% from the May 31st total of 362,100 shares. Based on an average trading volume of 89,300 shares, the days-to-cover ratio is currently 5.1 days.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Barclays initiated coverage on Chesapeake Utilities in a research report on Thursday, May 30th. They set an “equal weight” rating and a $111.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $109.80.

Hedge Funds Weigh In On Chesapeake Utilities

Institutional investors and hedge funds have recently modified their holdings of the stock. Asset Management One Co. Ltd. bought a new position in shares of Chesapeake Utilities during the fourth quarter valued at $1,060,000. Strs Ohio increased its holdings in Chesapeake Utilities by 83.7% in the 4th quarter. Strs Ohio now owns 81,200 shares of the utilities provider’s stock worth $8,577,000 after buying an additional 37,000 shares in the last quarter. Jennison Associates LLC bought a new stake in Chesapeake Utilities in the 4th quarter worth about $35,265,000. Cornercap Investment Counsel Inc. bought a new stake in Chesapeake Utilities in the 4th quarter worth about $1,078,000. Finally, Tributary Capital Management LLC increased its holdings in Chesapeake Utilities by 11.7% in the 4th quarter. Tributary Capital Management LLC now owns 122,322 shares of the utilities provider’s stock worth $12,921,000 after buying an additional 12,764 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Stock Down 1.0 %

Chesapeake Utilities stock traded down $1.08 on Friday, hitting $106.20. 735,222 shares of the stock traded hands, compared to its average volume of 86,677. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. The firm has a market cap of $2.37 billion, a P/E ratio of 22.31 and a beta of 0.61. The business’s fifty day simple moving average is $108.28 and its 200 day simple moving average is $105.20. Chesapeake Utilities has a 1 year low of $83.79 and a 1 year high of $124.72.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.04). Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The company had revenue of $245.70 million for the quarter, compared to the consensus estimate of $260.16 million. During the same quarter in the previous year, the business earned $2.04 earnings per share. Chesapeake Utilities’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Chesapeake Utilities will post 5.41 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.64 per share. The ex-dividend date is Friday, June 14th. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. This represents a $2.56 annualized dividend and a dividend yield of 2.41%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 53.78%.

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.