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

Chesapeake Utilities Co. (NYSE:CPK - Get Free Report) saw a large increase in short interest in the month of 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 trading volume of 119,800 shares, the short-interest ratio is currently 4.6 days.

Analysts Set New Price Targets

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

Chesapeake Utilities Stock Performance

Chesapeake Utilities stock traded up $0.87 during mid-day trading on Monday, reaching $124.17. 80,864 shares of the stock traded hands, compared to its average volume of 118,386. The stock has a market capitalization of $2.77 billion, a PE ratio of 25.93 and a beta of 0.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. The business's 50-day moving average is $118.38 and its 200-day moving average is $111.22. Chesapeake Utilities has a 12-month low of $83.79 and a 12-month high of $125.34.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $194.70 million. During the same quarter last year, the firm posted $0.90 earnings per share. The business's quarterly revenue was up 22.6% compared to the same quarter last year. As a group, sell-side analysts predict that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.06%. Chesapeake Utilities's payout ratio is currently 53.78%.

Insider Activity at Chesapeake Utilities

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $113.56, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chesapeake Utilities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealthspire Advisors LLC boosted its position in shares of Chesapeake Utilities by 0.3% in the first quarter. Wealthspire Advisors LLC now owns 29,251 shares of the utilities provider's stock worth $3,139,000 after purchasing an additional 95 shares during the period. Illinois Municipal Retirement Fund increased its stake in Chesapeake Utilities by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 12,191 shares of the utilities provider's stock worth $1,308,000 after buying an additional 99 shares in the last quarter. New York State Teachers Retirement System increased its stake in Chesapeake Utilities by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 5,657 shares of the utilities provider's stock worth $607,000 after buying an additional 100 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in Chesapeake Utilities by 10.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider's stock worth $116,000 after purchasing an additional 100 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in 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 in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

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.