Short Interest in Chesapeake Utilities Co. (NYSE:CPK) Decreases By 7.0%

Chesapeake Utilities Co. (NYSE:CPK) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 331,500 shares, a decline of 7.0% from the November 15th total of 356,300 shares. Based on an average daily volume of 98,000 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

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

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $125.12 on Wednesday. Chesapeake Utilities has a 52-week low of $98.25 and a 52-week high of $134.20. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 25.38 and a beta of 0.64. The firm’s fifty day moving average is $125.06 and its 200 day moving average is $118.42. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s payout ratio is 51.93%.

Institutional Investors Weigh In On Chesapeake Utilities

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Chesapeake Utilities in the 2nd quarter worth approximately $404,000. Raymond James & Associates boosted its stake in Chesapeake Utilities by 5.9% during the second quarter. Raymond James & Associates now owns 12,591 shares of the utilities provider’s stock worth $1,337,000 after buying an additional 705 shares during the period. Fifth Third Bancorp increased its position in Chesapeake Utilities by 17.7% during the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 115 shares during the last quarter. Hennessy Advisors Inc. raised its stake in shares of Chesapeake Utilities by 10.3% in the second quarter. Hennessy Advisors Inc. now owns 28,958 shares of the utilities provider’s stock valued at $3,075,000 after acquiring an additional 2,700 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Chesapeake Utilities by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the utilities provider’s stock worth $1,189,000 after acquiring an additional 200 shares during the last quarter. 83.11% of the stock is owned by 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.