New York State Common Retirement Fund Sells 23,420 Shares of Chesapeake Utilities Corporation $CPK

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

A number of other large investors have also recently modified their holdings of the company. Invesco Ltd. increased its holdings in Chesapeake Utilities by 18.1% during the second quarter. Invesco Ltd. now owns 573,800 shares of the utilities provider’s stock valued at $68,982,000 after buying an additional 87,978 shares during the period. Legal & General Group Plc boosted its position in Chesapeake Utilities by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 151,182 shares of the utilities provider’s stock valued at $18,175,000 after acquiring an additional 5,888 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Chesapeake Utilities by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 545,146 shares of the utilities provider’s stock valued at $65,545,000 after acquiring an additional 9,632 shares during the period. Inspire Advisors LLC raised its position in shares of Chesapeake Utilities by 74.5% in the 2nd quarter. Inspire Advisors LLC now owns 6,222 shares of the utilities provider’s stock worth $748,000 after acquiring an additional 2,656 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Chesapeake Utilities during the 2nd quarter worth $1,087,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Insider Activity

In other news, COO Jeffery S. Sylvester sold 1,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $137.08, for a total value of $137,080.00. Following the transaction, the chief operating officer directly owned 11,916 shares of the company’s stock, valued at approximately $1,633,445.28. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffry M. Householder sold 1,908 shares of Chesapeake Utilities stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $125.83, for a total value of $240,083.64. Following the sale, the chief executive officer directly owned 51,916 shares of the company’s stock, valued at $6,532,590.28. This trade represents a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 18,500 shares of company stock worth $2,355,265. Company insiders own 1.51% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of CPK opened at $128.96 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.55. The company’s fifty day moving average price is $126.48 and its 200-day moving average price is $128.40. Chesapeake Utilities Corporation has a 1-year low of $115.24 and a 1-year high of $140.59. The firm has a market capitalization of $3.05 billion, a PE ratio of 22.82 and a beta of 0.79.

Analyst Ratings Changes

A number of brokerages have commented on CPK. Wall Street Zen downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Monday, December 29th. Barclays set a $141.00 target price on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Finally, BTIG Research assumed coverage on shares of Chesapeake Utilities in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Chesapeake Utilities currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.00.

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.