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

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

Chesapeake Utilities Price Performance

CPK opened at $121.35 on Wednesday. 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 stock’s 50 day simple moving average is $125.19 and its 200 day simple moving average is $119.27. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 24.61 and a beta of 0.64. Chesapeake Utilities has a 1 year low of $98.25 and a 1 year high of $134.20.

Chesapeake Utilities Announces Dividend

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

Institutional Investors Weigh In On Chesapeake Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of Chesapeake Utilities by 5.9% during the second quarter. Raymond James & Associates now owns 12,591 shares of the utilities provider’s stock valued at $1,337,000 after acquiring an additional 705 shares during the last quarter. Versor Investments LP purchased a new stake in Chesapeake Utilities in the 2nd quarter worth approximately $266,000. Rhumbline Advisers grew its position in shares of Chesapeake Utilities by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 72,986 shares of the utilities provider’s stock worth $7,751,000 after buying an additional 3,850 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Chesapeake Utilities by 170.5% during the second quarter. Victory Capital Management Inc. now owns 124,716 shares of the utilities provider’s stock valued at $13,245,000 after buying an additional 78,613 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Chesapeake Utilities by 4.6% during the second quarter. Arizona State Retirement System now owns 6,225 shares of the utilities provider’s stock valued at $661,000 after acquiring an additional 273 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

About Chesapeake Utilities

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.