Copeland Capital Management LLC Sells 9,930 Shares of Chesapeake Utilities Corporation $CPK

Copeland Capital Management LLC reduced its position in Chesapeake Utilities Corporation (NYSE:CPK) by 2.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 468,656 shares of the utilities provider’s stock after selling 9,930 shares during the period. Chesapeake Utilities accounts for about 1.3% of Copeland Capital Management LLC’s portfolio, making the stock its 26th biggest position. Copeland Capital Management LLC’s holdings in Chesapeake Utilities were worth $59,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Chesapeake Utilities by 31.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 325 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 78 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Chesapeake Utilities by 0.3% during the fourth quarter. Wealthspire Advisors LLC now owns 29,488 shares of the utilities provider’s stock valued at $3,679,000 after buying an additional 93 shares during the last quarter. Franklin Resources Inc. grew its stake in Chesapeake Utilities by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 1,646 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 95 shares during the last quarter. Intrust Bank NA increased its holdings in shares of Chesapeake Utilities by 2.2% in the fourth quarter. Intrust Bank NA now owns 4,540 shares of the utilities provider’s stock valued at $566,000 after purchasing an additional 97 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Chesapeake Utilities by 66.1% in the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 109 shares during the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Price Performance

NYSE:CPK opened at $133.21 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.39. The company has a 50 day moving average price of $124.87 and a 200-day moving average price of $127.15. Chesapeake Utilities Corporation has a 1-year low of $118.83 and a 1-year high of $140.59. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 21.35 and a beta of 0.69.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The company had revenue of $353.10 million during the quarter, compared to analysts’ expectations of $339.86 million. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Equities research analysts forecast that Chesapeake Utilities Corporation will post 6.46 EPS for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, June 15th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 47.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays set a $142.00 price target on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a report on Monday, April 20th. Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Finally, Wells Fargo & Company started coverage on Chesapeake Utilities in a research note on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price objective for the company. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Chesapeake Utilities has a consensus rating of “Hold” and an average price target of $137.00.

Insider Activity at Chesapeake Utilities

In other news, SVP Kevin J. Webber sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $127.37, for a total transaction of $254,740.00. Following the transaction, the senior vice president owned 12,652 shares in the company, valued at $1,611,485.24. This trade represents a 13.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffry M. Householder sold 10,000 shares of Chesapeake Utilities stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $126.12, for a total value of $1,261,200.00. Following the completion of the sale, the chief executive officer owned 63,001 shares in the company, valued at approximately $7,945,686.12. The trade was a 13.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.36% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.