Copeland Capital Management LLC Sells 12,513 Shares of Chesapeake Utilities Corporation $CPK

Key Points

• Copeland Capital Management reduced its Chesapeake Utilities stake by 2.8%, selling 12,513 shares and retaining 432,870 shares worth approximately $55.6 million. Institutional investors collectively own 83.11% of the company.
• Chesapeake Utilities reported quarterly revenue of $201.9 million, up 4.7% year over year, but earnings of $1.05 per share fell slightly short of analysts’ $1.07 estimate.
• The company pays a quarterly dividend of $0.735 per share, equivalent to a $2.94 annualized payout and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $144.50, versus a share price of $129.93.

Copeland Capital Management LLC lowered its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 432,870 shares of the utilities provider's stock after selling 12,513 shares during the quarter. Copeland Capital Management LLC owned approximately 1.80% of Chesapeake Utilities worth $55,607,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Chesapeake Utilities during the 2nd quarter worth approximately $29,000. Versant Capital Management Inc raised its holdings in shares of Chesapeake Utilities by 38.8% in the 2nd quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider's stock worth $37,000 after purchasing an additional 85 shares during the period. First Bancorp Inc ME bought a new stake in shares of Chesapeake Utilities in the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of Chesapeake Utilities by 24.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 404 shares of the utilities provider's stock worth $51,000 after purchasing an additional 79 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in Chesapeake Utilities in the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Stock Up 0.7%

Chesapeake Utilities stock opened at $129.93 on Wednesday. Chesapeake Utilities Corporation has a 1-year low of $118.88 and a 1-year high of $140.83. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 20.72 and a beta of 0.65. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 0.79. The firm has a 50 day simple moving average of $131.51 and a 200 day simple moving average of $128.57.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The company had revenue of $201.90 million for the quarter, compared to analysts' expectations of $198.91 million. During the same quarter in the prior year, the company earned $1.04 EPS. The company's revenue was up 4.7% on a year-over-year basis. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. On average, analysts predict that Chesapeake Utilities Corporation will post 6.41 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 14th were given a dividend of $0.7350 per share. The ex-dividend date was Monday, September 14th. This represents a $2.94 annualized dividend and a dividend yield of 2.3%. Chesapeake Utilities's dividend payout ratio is currently 46.89%.

Wall Street Analyst Weigh In

CPK has been the subject of several research reports. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Huntington initiated coverage on Chesapeake Utilities in a research report on Monday, September 14th. They issued an "outperform" rating and a $150.00 target price for the company. Mizuho set a $150.00 target price on Chesapeake Utilities and gave the company an "outperform" rating in a research note on Friday, September 11th. Wells Fargo & Company set a $136.00 target price on Chesapeake Utilities and gave the company an "equal weight" rating in a research note on Wednesday, September 30th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Chesapeake Utilities in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.50.

About Chesapeake Utilities

Chesapeake Utilities Corporation NYSE: CPK is a diversified energy delivery company headquartered in Dover, Delaware. Through its operating divisions and subsidiaries, the company provides natural gas distribution, transmission and storage, propane distribution, electric distribution, and other energy-related services to residential, commercial, industrial and institutional customers.

The company operates regulated natural gas utilities in Delaware, Maryland and Florida, as well as natural gas transmission and pipeline businesses serving portions of the Mid-Atlantic and Southeast.

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