Short Interest in Chesapeake Utilities Co. (NYSE:CPK) Rises By 7.7%

Chesapeake Utilities Co. (NYSE:CPK) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 125,700 shares, an increase of 7.7% from the January 15th total of 116,700 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 58,000 shares, the short-interest ratio is presently 2.2 days.

In related news, insider John R. Schimkaitis sold 5,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $98.00, for a total value of $490,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of Chesapeake Utilities by 10.9% in the second quarter. Royal Bank of Canada now owns 20,059 shares of the utilities provider’s stock worth $1,907,000 after buying an additional 1,966 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Chesapeake Utilities by 6.6% in the third quarter. Envestnet Asset Management Inc. now owns 13,891 shares of the utilities provider’s stock worth $1,324,000 after buying an additional 858 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Chesapeake Utilities by 29.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 955 shares of the utilities provider’s stock worth $91,000 after buying an additional 219 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Chesapeake Utilities by 0.6% in the third quarter. Boston Trust Walden Corp now owns 166,586 shares of the utilities provider’s stock worth $15,879,000 after buying an additional 987 shares in the last quarter. Finally, Albert D Mason Inc. lifted its stake in shares of Chesapeake Utilities by 1.5% in the third quarter. Albert D Mason Inc. now owns 12,887 shares of the utilities provider’s stock worth $1,228,000 after buying an additional 187 shares in the last quarter. 67.14% of the stock is owned by institutional investors.

CPK has been the subject of several analyst reports. Wells Fargo & Co reiterated a “hold” rating on shares of Chesapeake Utilities in a research note on Monday, December 9th. ValuEngine cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. Maxim Group reiterated a “buy” rating and issued a $110.00 target price on shares of Chesapeake Utilities in a research note on Thursday, December 19th. Janney Montgomery Scott upgraded shares of Chesapeake Utilities from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $107.00 in a research note on Friday, December 20th. Finally, Sidoti boosted their target price on shares of Chesapeake Utilities from $108.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Chesapeake Utilities has an average rating of “Hold” and a consensus price target of $102.33.

NYSE CPK traded down $1.01 on Friday, hitting $99.40. The company had a trading volume of 27,400 shares, compared to its average volume of 51,881. The company has a market capitalization of $1.60 billion, a PE ratio of 27.16, a PEG ratio of 3.57 and a beta of 0.17. The company’s fifty day moving average price is $95.43 and its 200-day moving average price is $93.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.26 and a quick ratio of 0.23. Chesapeake Utilities has a 12-month low of $86.65 and a 12-month high of $101.29.

About Chesapeake Utilities

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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