Copeland Capital Management LLC raised its position in Chesapeake Utilities Co. (NYSE:CPK – Free Report) by 0.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 592,930 shares of the utilities provider’s stock after acquiring an additional 459 shares during the quarter. Chesapeake Utilities accounts for about 1.3% of Copeland Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Copeland Capital Management LLC’s holdings in Chesapeake Utilities were worth $71,952,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Chesapeake Utilities by 0.9% during the third quarter. State Street Corp now owns 1,222,149 shares of the utilities provider’s stock valued at $152,513,000 after acquiring an additional 11,068 shares during the period. Geode Capital Management LLC increased its stake in shares of Chesapeake Utilities by 1.6% during the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock valued at $64,157,000 after acquiring an additional 8,358 shares during the period. Boston Trust Walden Corp increased its stake in shares of Chesapeake Utilities by 9.5% during the third quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider’s stock valued at $37,320,000 after acquiring an additional 26,147 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Chesapeake Utilities by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock valued at $35,760,000 after acquiring an additional 14,430 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Chesapeake Utilities by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 259,064 shares of the utilities provider’s stock valued at $32,168,000 after acquiring an additional 7,666 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.
Chesapeake Utilities Trading Down 0.7 %
Chesapeake Utilities stock opened at $122.23 on Friday. The company has a 50 day moving average price of $123.77 and a 200 day moving average price of $121.40. Chesapeake Utilities Co. has a 52 week low of $98.25 and a 52 week high of $134.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 24.79 and a beta of 0.65.
Chesapeake Utilities Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 16th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is 51.93%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on CPK shares. Guggenheim raised their price objective on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays lifted their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, StockNews.com lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.00.
Check Out Our Latest Research Report on Chesapeake Utilities
Chesapeake Utilities 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.
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