Chesapeake Utilities Co. (NYSE:CPK) Short Interest Up 16.0% in December

Chesapeake Utilities Co. (NYSE:CPK) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 384,400 shares, an increase of 16.0% from the November 30th total of 331,500 shares. Based on an average daily trading volume, of 91,900 shares, the short-interest ratio is presently 4.2 days.

Analysts Set New Price Targets

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

Chesapeake Utilities Price Performance

NYSE CPK opened at $121.35 on Wednesday. The stock’s fifty day moving average price is $125.19 and its 200 day moving average price is $119.27. Chesapeake Utilities has a 1 year low of $98.25 and a 1 year high of $134.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 24.61 and a beta of 0.64.

Chesapeake Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a $0.64 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 2.11%. Chesapeake Utilities’s dividend payout ratio is currently 51.93%.

Hedge Funds Weigh In On Chesapeake Utilities

A number of institutional investors have recently bought and sold shares of CPK. Jane Street Group LLC increased its stake in shares of Chesapeake Utilities by 11.6% in the third quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock worth $5,095,000 after acquiring an additional 4,262 shares during the period. HighTower Advisors LLC grew its position in Chesapeake Utilities by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 130 shares during the period. Dimensional Fund Advisors LP grew its position in Chesapeake Utilities by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock worth $51,979,000 after purchasing an additional 19,100 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Chesapeake Utilities by 11.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 53,121 shares of the utilities provider’s stock valued at $6,596,000 after buying an additional 5,487 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Chesapeake Utilities in the 2nd quarter valued at about $3,834,000. 83.11% of the stock is owned by hedge funds and other institutional investors.

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.