State of New Jersey Common Pension Fund D Decreases Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

State of New Jersey Common Pension Fund D lowered its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 4.5% during the fourth quarter, Holdings Channel reports. The firm owned 16,072 shares of the utilities provider’s stock after selling 765 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Chesapeake Utilities were worth $1,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Chesapeake Utilities by 0.9% in 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 lifted its holdings in Chesapeake Utilities by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock valued at $64,157,000 after purchasing an additional 8,358 shares in the last quarter. Jennison Associates LLC boosted its position in Chesapeake Utilities by 2.7% during the fourth quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider’s stock worth $60,090,000 after acquiring an additional 12,889 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Chesapeake Utilities by 5.3% in the third quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock valued at $35,760,000 after purchasing an additional 14,430 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Chesapeake Utilities by 3.0% during the 3rd 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 last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CPK shares. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Guggenheim increased their price target on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Price Performance

NYSE CPK opened at $124.63 on Tuesday. Chesapeake Utilities Co. has a 1 year low of $98.25 and a 1 year high of $134.20. The business’s fifty day moving average is $121.75 and its two-hundred day moving average is $122.11. The stock has a market capitalization of $2.84 billion, a P/E ratio of 25.28 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

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.