Copeland Capital Management LLC Has $74.66 Million Holdings in Chesapeake Utilities Corporation (NYSE:CPK)

Copeland Capital Management LLC decreased its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 581,330 shares of the utilities provider's stock after selling 11,600 shares during the period. Chesapeake Utilities accounts for about 1.5% of Copeland Capital Management LLC's holdings, making the stock its 15th largest position. Copeland Capital Management LLC owned about 2.53% of Chesapeake Utilities worth $74,660,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CPK. GAMMA Investing LLC grew its holdings in Chesapeake Utilities by 13,619.7% in the 1st quarter. GAMMA Investing LLC now owns 148,722 shares of the utilities provider's stock valued at $19,100,000 after buying an additional 147,638 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Chesapeake Utilities by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,934,574 shares of the utilities provider's stock worth $234,761,000 after acquiring an additional 44,692 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Chesapeake Utilities in the fourth quarter worth $5,110,000. JPMorgan Chase & Co. increased its position in Chesapeake Utilities by 10.3% during the fourth quarter. JPMorgan Chase & Co. now owns 317,752 shares of the utilities provider's stock worth $38,559,000 after acquiring an additional 29,759 shares during the period. Finally, Northern Trust Corp raised its stake in Chesapeake Utilities by 9.0% during the 4th quarter. Northern Trust Corp now owns 281,910 shares of the utilities provider's stock valued at $34,210,000 after purchasing an additional 23,160 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Stock Performance

Shares of NYSE:CPK traded down $0.47 during trading on Friday, hitting $120.97. 454,635 shares of the stock were exchanged, compared to its average volume of 107,887. Chesapeake Utilities Corporation has a 1-year low of $104.56 and a 1-year high of $136.73. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 22.36 and a beta of 0.66. The company's fifty day simple moving average is $124.47 and its 200-day simple moving average is $124.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.46.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. The firm had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. During the same period in the previous year, the business posted $2.10 EPS. Chesapeake Utilities's revenue for the quarter was up 21.6% compared to the same quarter last year. Sell-side analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be paid a $0.685 dividend. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. The ex-dividend date is Monday, June 16th. This represents a $2.74 annualized dividend and a yield of 2.27%. Chesapeake Utilities's payout ratio is currently 50.65%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays decreased their price target on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

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.