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

Chesapeake Utilities Co. (NYSE:CPKGet Rating) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 222,900 shares, a decline of 40.3% from the March 15th total of 373,400 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 60,900 shares, the short-interest ratio is presently 3.7 days.

In related news, insider John R. Schimkaitis sold 2,500 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $139.02, for a total value of $347,550.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.58% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in Chesapeake Utilities by 3.2% during the 4th quarter. State Street Corp now owns 583,636 shares of the utilities provider’s stock worth $85,375,000 after purchasing an additional 18,061 shares in the last quarter. Geode Capital Management LLC increased its position in Chesapeake Utilities by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 298,522 shares of the utilities provider’s stock worth $43,527,000 after purchasing an additional 4,460 shares in the last quarter. Copeland Capital Management LLC increased its position in Chesapeake Utilities by 2.7% during the 4th quarter. Copeland Capital Management LLC now owns 257,589 shares of the utilities provider’s stock worth $37,559,000 after purchasing an additional 6,803 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Chesapeake Utilities by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 153,569 shares of the utilities provider’s stock worth $22,392,000 after purchasing an additional 3,447 shares in the last quarter. Finally, Invesco Ltd. increased its position in Chesapeake Utilities by 15.6% during the 4th quarter. Invesco Ltd. now owns 138,009 shares of the utilities provider’s stock worth $20,123,000 after purchasing an additional 18,644 shares in the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.

CPK has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Wednesday, January 5th. StockNews.com initiated coverage on shares of Chesapeake Utilities in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada upped their target price on shares of Chesapeake Utilities from $124.00 to $126.00 and gave the company a “sector perform” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $138.60.

Shares of CPK stock opened at $136.56 on Friday. The firm has a market cap of $2.42 billion, a P/E ratio of 28.87 and a beta of 0.53. Chesapeake Utilities has a 1-year low of $113.49 and a 1-year high of $146.30. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.46 and a quick ratio of 0.40. The firm’s 50-day simple moving average is $134.80 and its 200-day simple moving average is $133.86.

Chesapeake Utilities (NYSE:CPKGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The utilities provider reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.01). The company had revenue of $160.37 million for the quarter, compared to analysts’ expectations of $157.10 million. Chesapeake Utilities had a return on equity of 11.15% and a net margin of 14.64%. During the same quarter in the previous year, the company earned $1.24 earnings per share. Analysts expect that Chesapeake Utilities will post 4.99 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 5th. Stockholders of record on Tuesday, March 15th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 1.41%. Chesapeake Utilities’s payout ratio is currently 40.59%.

About Chesapeake Utilities (Get Rating)

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula and Florida; and regulated electric distribution in northeast and northwest Florida.

Featured Stories

Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.