Chesapeake Utilities Co. (NYSE:CPK) Short Interest Up 12.3% in August

Chesapeake Utilities Co. (NYSE:CPK) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 142,000 shares, a growth of 12.3% from the August 15th total of 126,500 shares. Based on an average daily trading volume, of 64,900 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.8% of the company’s stock are short sold.

Chesapeake Utilities Stock Up 0.0 %

Shares of NYSE CPK opened at $111.13 on Monday. The stock has a market capitalization of $1.98 billion, a P/E ratio of 22.45 and a beta of 0.57. The stock’s fifty day moving average is $114.30 and its 200 day moving average is $121.97. Chesapeake Utilities has a 52 week low of $105.01 and a 52 week high of $132.91. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.44 and a current ratio of 0.54.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.08). Chesapeake Utilities had a return on equity of 10.48% and a net margin of 13.14%. The business had revenue of $135.59 million for the quarter, compared to the consensus estimate of $170.60 million. Sell-side analysts forecast that Chesapeake Utilities will post 5.16 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.36 annualized dividend and a yield of 2.12%. Chesapeake Utilities’s payout ratio is currently 47.68%.

Analyst Ratings Changes

CPK has been the topic of several research analyst reports. Royal Bank of Canada lowered their price target on shares of Chesapeake Utilities from $133.00 to $124.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 6th. Guggenheim dropped their price target on Chesapeake Utilities from $116.00 to $112.00 in a report on Friday, July 7th. Finally, StockNews.com started coverage on Chesapeake Utilities in a report on Thursday, August 17th. They issued a “hold” rating on the stock.

Insider Activity at Chesapeake Utilities

In related news, COO Jeffery S. Sylvester sold 1,900 shares of Chesapeake Utilities stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $121.87, for a total transaction of $231,553.00. Following the completion of the transaction, the chief operating officer now owns 8,123 shares in the company, valued at $989,950.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chesapeake Utilities

Hedge funds and other institutional investors have recently modified their holdings of the company. New York Life Investment Management LLC bought a new position in Chesapeake Utilities during the 1st quarter valued at $474,000. Cornercap Investment Counsel Inc. purchased a new stake in Chesapeake Utilities in the 4th quarter valued at about $1,000,000. Bahl & Gaynor Inc. lifted its position in shares of Chesapeake Utilities by 4.1% during the 1st quarter. Bahl & Gaynor Inc. now owns 26,751 shares of the utilities provider’s stock worth $3,424,000 after buying an additional 1,046 shares in the last quarter. Tortoise Index Solutions LLC boosted its stake in shares of Chesapeake Utilities by 0.4% in the 4th quarter. Tortoise Index Solutions LLC now owns 38,560 shares of the utilities provider’s stock worth $2,518,000 after buying an additional 143 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Chesapeake Utilities by 13.5% during the first quarter. Exchange Traded Concepts LLC now owns 11,540 shares of the utilities provider’s stock worth $1,477,000 after acquiring an additional 1,370 shares during the period. Institutional investors own 74.80% 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.