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

Chesapeake Utilities Co. (NYSE:CPK) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 459,500 shares, an increase of 26.9% from the May 31st total of 362,100 shares. Based on an average trading volume of 89,300 shares, the days-to-cover ratio is currently 5.1 days.

Chesapeake Utilities Stock Performance

Shares of Chesapeake Utilities stock traded down $1.08 on Friday, reaching $106.20. 735,222 shares of the stock were exchanged, compared to its average volume of 86,677. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.93. Chesapeake Utilities has a twelve month low of $83.79 and a twelve month high of $124.72. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 22.31 and a beta of 0.61. The business has a 50 day moving average price of $108.28 and a two-hundred day moving average price of $105.20.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.04). Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The firm had revenue of $245.70 million for the quarter, compared to analyst estimates of $260.16 million. During the same period last year, the firm earned $2.04 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts anticipate that Chesapeake Utilities will post 5.41 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a dividend of $0.64 per share. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.41%. Chesapeake Utilities’s payout ratio is 53.78%.

Institutional Investors Weigh In On Chesapeake Utilities

Institutional investors and hedge funds have recently modified their holdings of the company. SRS Capital Advisors Inc. raised its position in Chesapeake Utilities by 308.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 286 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 216 shares in the last quarter. Fortis Group Advisors LLC raised its position in Chesapeake Utilities by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 146 shares in the last quarter. GAMMA Investing LLC purchased a new position in Chesapeake Utilities during the fourth quarter valued at approximately $30,000. Principal Securities Inc. purchased a new position in Chesapeake Utilities during the fourth quarter valued at approximately $41,000. Finally, Signaturefd LLC raised its position in Chesapeake Utilities by 126.1% during the fourth quarter. Signaturefd LLC now owns 398 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 222 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Barclays assumed coverage on Chesapeake Utilities in a report on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.80.

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.