Chesapeake Utilities Co. (NYSE:CPK) Short Interest Down 7.0% in November

Chesapeake Utilities Co. (NYSE:CPK) was the target of a significant decline in short interest in 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 days-to-cover ratio is currently 3.4 days.

Wall Street Analyst Weigh In

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

Chesapeake Utilities Price Performance

NYSE:CPK opened at $125.12 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 company has a 50 day moving average price of $125.06 and a 200-day moving average price of $118.42. Chesapeake Utilities has a 1-year low of $98.25 and a 1-year high of $134.20. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 25.38 and a beta of 0.64.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be given a $0.64 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.05%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 51.93%.

Institutional Investors Weigh In On Chesapeake Utilities

Several hedge funds have recently modified their holdings of CPK. Jane Street Group LLC lifted its position in shares of Chesapeake Utilities by 11.6% during the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock valued at $5,095,000 after buying an additional 4,262 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chesapeake Utilities by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock valued at $51,979,000 after purchasing an additional 19,100 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Chesapeake Utilities by 11.5% during the third quarter. Exchange Traded Concepts LLC now owns 53,121 shares of the utilities provider’s stock valued at $6,596,000 after purchasing an additional 5,487 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Chesapeake Utilities in the second quarter valued at about $3,834,000. Finally, Quest Partners LLC purchased a new stake in shares of Chesapeake Utilities during the third quarter worth about $966,000. 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.