New York State Common Retirement Fund Cuts Stake in Chesapeake Utilities Corporation $CPK

New York State Common Retirement Fund cut its holdings in Chesapeake Utilities Corporation (NYSE:CPK) by 75.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,785 shares of the utilities provider’s stock after selling 23,420 shares during the period. New York State Common Retirement Fund’s holdings in Chesapeake Utilities were worth $1,049,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CPK. Elevation Point Wealth Partners LLC purchased a new position in shares of Chesapeake Utilities in the second quarter worth $26,000. Geneos Wealth Management Inc. lifted its stake in Chesapeake Utilities by 292.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 164 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Chesapeake Utilities by 1,909.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Chesapeake Utilities by 17.3% in the third quarter. CWM LLC now owns 1,058 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 156 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jeffry M. Householder sold 7,500 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $126.74, for a total value of $950,550.00. Following the sale, the chief executive officer directly owned 56,916 shares in the company, valued at approximately $7,213,533.84. This represents a 11.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffery S. Sylvester sold 1,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $137.08, for a total value of $137,080.00. Following the transaction, the chief operating officer owned 11,916 shares of the company’s stock, valued at approximately $1,633,445.28. The trade was a 7.74% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 18,500 shares of company stock worth $2,355,265. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BTIG Research began coverage on Chesapeake Utilities in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Barclays set a $141.00 price objective on Chesapeake Utilities and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $141.00.

Chesapeake Utilities Trading Down 0.7%

CPK stock opened at $128.96 on Tuesday. Chesapeake Utilities Corporation has a twelve month low of $115.24 and a twelve month high of $140.59. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 22.82 and a beta of 0.79. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm’s fifty day simple moving average is $126.48 and its two-hundred day simple moving average is $128.40.

About Chesapeake Utilities

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.