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

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

Hedge Funds Weigh In On Chesapeake Utilities

A number of hedge funds and other institutional investors have recently made changes to their positions in CPK. Envestnet Asset Management Inc. grew its stake in shares of Chesapeake Utilities by 33.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 91,225 shares of the utilities provider’s stock valued at $8,917,000 after purchasing an additional 23,048 shares during the last quarter. Invesco Ltd. increased its stake in Chesapeake Utilities by 4.5% in the 3rd quarter. Invesco Ltd. now owns 90,521 shares of the utilities provider’s stock valued at $8,848,000 after buying an additional 3,885 shares during the period. Stifel Financial Corp raised its position in Chesapeake Utilities by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 21,624 shares of the utilities provider’s stock worth $2,114,000 after buying an additional 210 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Chesapeake Utilities by 0.4% in the 3rd quarter. Northern Trust Corp now owns 252,733 shares of the utilities provider’s stock worth $24,705,000 after acquiring an additional 936 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Chesapeake Utilities by 0.8% in the third quarter. Qube Research & Technologies Ltd now owns 25,179 shares of the utilities provider’s stock valued at $2,461,000 after acquiring an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $106.20 on Tuesday. The company has a market capitalization of $2.37 billion, a PE ratio of 22.31 and a beta of 0.61. Chesapeake Utilities has a 52-week low of $83.79 and a 52-week high of $124.72. The stock’s 50 day moving average price is $108.29 and its 200 day moving average price is $105.19. 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 (NYSE:CPK) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $2.10 earnings per share (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 business had revenue of $245.70 million for the quarter, compared to analysts’ expectations of $260.16 million. During the same quarter last year, the business posted $2.04 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, research analysts anticipate that Chesapeake Utilities will post 5.41 EPS for the current year.

Chesapeake Utilities Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays initiated coverage on Chesapeake Utilities in a report on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 price objective on the stock. Wells Fargo & Company increased their price target on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $109.80.

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.