Short Interest in Chesapeake Utilities Co. (NYSE:CPK) Declines By 8.0%

Chesapeake Utilities Co. (NYSE:CPK) was the recipient of 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 daily volume of 89,600 shares, the short-interest ratio is presently 3.8 days.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock traded up $2.37 during trading on Monday, reaching $129.34. The company’s stock had a trading volume of 95,084 shares, compared to its average volume of 113,134. The stock has a 50-day moving average price of $121.83 and a two-hundred day moving average price of $115.58. The stock has a market capitalization of $2.95 billion, a P/E ratio of 26.24 and a beta of 0.61. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities has a one year low of $90.21 and a one year high of $129.54.

Chesapeake Utilities Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 407 shares during the period. Assetmark Inc. lifted its position in Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares during the period. Fifth Third Bancorp boosted its stake 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 valued at $81,000 after purchasing an additional 115 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Chesapeake Utilities in the 3rd quarter valued at about $99,000. Finally, Spirit of America Management Corp NY grew its position in shares of Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock worth $106,000 after buying an additional 450 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Chesapeake Utilities

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.