Short Interest in Chesapeake Utilities Co. (NYSE:CPK) Declines By 7.0%

Chesapeake Utilities Co. (NYSE:CPK) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 331,500 shares, a decline of 7.0% from the November 15th total of 356,300 shares. Based on an average daily volume of 98,000 shares, the days-to-cover ratio is currently 3.4 days.

Chesapeake Utilities Stock Down 0.5 %

Shares of NYSE:CPK traded down $0.60 during midday trading on Monday, reaching $126.13. The company’s stock had a trading volume of 114,697 shares, compared to its average volume of 111,879. The firm has a 50 day moving average of $124.75 and a 200-day moving average of $118.20. The firm has a market capitalization of $2.87 billion, a P/E ratio of 25.84 and a beta of 0.64. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities has a 12-month low of $98.25 and a 12-month high of $134.20.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities’s payout ratio is 51.93%.

Hedge Funds Weigh In On Chesapeake Utilities

A number of hedge funds have recently bought and sold shares of CPK. Assetmark Inc. boosted its stake in Chesapeake Utilities by 19.2% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 102 shares in the last quarter. Fifth Third Bancorp lifted its stake in Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 115 shares during the period. nVerses Capital LLC bought a new position in Chesapeake Utilities during the 3rd quarter valued at about $99,000. Spirit of America Management Corp NY lifted its stake in 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 valued at $106,000 after acquiring an additional 450 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Chesapeake Utilities by 64.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock valued at $129,000 after acquiring an additional 405 shares during the period. Institutional investors own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPK. Barclays boosted their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Guggenheim boosted their price objective on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Utilities presently has an average rating of “Hold” and an average price target of $123.00.

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.