Chesapeake Utilities Co. (NYSE:CPK) Sees Significant Decrease in Short Interest

Chesapeake Utilities Co. (NYSE:CPK - Get Free Report) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 373,200 shares, a decline of 34.9% from the September 30th total of 573,700 shares. Based on an average daily volume of 94,100 shares, the short-interest ratio is presently 4.0 days.

Analysts Set New Price Targets

Separately, Barclays increased their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th.

Chesapeake Utilities Stock Up 0.4 %

Shares of Chesapeake Utilities stock traded up $0.44 on Friday, hitting $120.65. 72,339 shares of the company traded hands, compared to its average volume of 114,266. Chesapeake Utilities has a 12-month low of $83.79 and a 12-month high of $125.34. 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 company has a market cap of $2.69 billion, a PE ratio of 25.35 and a beta of 0.61. The company has a 50-day moving average price of $119.98 and a 200 day moving average price of $113.47.

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

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, September 16th. Chesapeake Utilities's dividend payout ratio is 53.78%.

Insider Transactions at Chesapeake Utilities

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of the stock in a transaction on 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 in the company, valued at $949,702.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CPK. GAMMA Investing LLC raised its stake in shares of Chesapeake Utilities by 180.1% in the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider's stock valued at $67,000 after acquiring an additional 407 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Chesapeake Utilities by 17.7% in the second 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 period. nVerses Capital LLC acquired a new stake in shares of Chesapeake Utilities in the third quarter worth $99,000. Spirit of America Management Corp NY boosted its holdings 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. Finally, Tradewinds Capital Management LLC grew its stake 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 valued at $116,000 after buying an additional 100 shares during the last quarter. 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.