Chesapeake Utilities Co. (NYSE:CPK) Short Interest Up 7.7% in January

Chesapeake Utilities Co. (NYSE:CPK) saw a significant 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. Based on an average daily volume of 58,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.8% of the shares of the company are sold short.

A number of equities analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Chesapeake Utilities in a research report on Tuesday, January 7th. They set a “neutral” rating and a $92.00 target price on the stock. Janney Montgomery Scott raised shares of Chesapeake Utilities from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $107.00 in a research report on Friday, December 20th. Sidoti boosted their target price on shares of Chesapeake Utilities from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. ValuEngine lowered shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Chesapeake Utilities in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $102.33.

CPK stock traded down $1.01 on Friday, reaching $99.40. 27,489 shares of the company were exchanged. Chesapeake Utilities has a 12 month low of $86.65 and a 12 month high of $101.29. The stock’s fifty day moving average price is $95.43 and its 200 day moving average price is $93.84.

In other news, insider John R. Schimkaitis sold 5,000 shares of Chesapeake Utilities stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Company insiders own 4.18% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in Chesapeake Utilities by 4.8% in the 4th quarter. State Street Corp now owns 362,802 shares of the utilities provider’s stock valued at $34,912,000 after buying an additional 16,768 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Chesapeake Utilities by 25.4% in the 4th quarter. Boston Trust Walden Corp now owns 208,854 shares of the utilities provider’s stock valued at $20,014,000 after purchasing an additional 42,268 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Chesapeake Utilities by 15.4% in the 4th quarter. ProShare Advisors LLC now owns 137,315 shares of the utilities provider’s stock valued at $13,159,000 after purchasing an additional 18,296 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Chesapeake Utilities by 115.6% in the 3rd quarter. Millennium Management LLC now owns 136,234 shares of the utilities provider’s stock valued at $12,985,000 after purchasing an additional 73,041 shares in the last quarter. Finally, Tributary Capital Management LLC acquired a new stake in shares of Chesapeake Utilities in the 4th quarter valued at $12,909,000. 67.14% of the stock is currently owned by hedge funds and other institutional investors.

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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