Equities analysts predict that Chesapeake Utilities Co. (NYSE:CPK) will announce sales of $142.85 million for the current quarter, Zacks reports. Two analysts have issued estimates for Chesapeake Utilities’ earnings, with estimates ranging from $138.40 million to $147.30 million. Chesapeake Utilities reported sales of $126.94 million during the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The company is scheduled to report its next earnings results on Thursday, November 8th.
On average, analysts expect that Chesapeake Utilities will report full year sales of $681.70 million for the current financial year, with estimates ranging from $635.00 million to $731.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $737.80 million, with estimates ranging from $659.00 million to $812.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Chesapeake Utilities.
Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Thursday, August 9th. The utilities provider reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). The company had revenue of $136.66 million during the quarter, compared to analyst estimates of $140.85 million. Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Wednesday. Wells Fargo & Co upped their target price on shares of Chesapeake Utilities from $86.00 to $88.00 and gave the stock a “hold” rating in a research note on Monday. ValuEngine lowered shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Janney Montgomery Scott lowered shares of Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a research note on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $87.50.
In related news, insider John R. Schimkaitis sold 2,500 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $79.10, for a total value of $197,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Chesapeake Utilities by 13.9% during the 2nd quarter. BlackRock Inc. now owns 1,195,316 shares of the utilities provider’s stock worth $95,566,000 after buying an additional 145,855 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Chesapeake Utilities by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 543,699 shares of the utilities provider’s stock worth $43,469,000 after buying an additional 4,951 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Chesapeake Utilities by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 341,300 shares of the utilities provider’s stock worth $27,287,000 after buying an additional 29,100 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Chesapeake Utilities by 1.2% during the 2nd quarter. Northern Trust Corp now owns 206,591 shares of the utilities provider’s stock worth $16,516,000 after buying an additional 2,466 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Chesapeake Utilities by 131.4% during the 1st quarter. Millennium Management LLC now owns 138,449 shares of the utilities provider’s stock worth $9,740,000 after buying an additional 78,623 shares during the last quarter. Institutional investors own 63.67% of the company’s stock.
NYSE CPK traded down $1.75 on Friday, reaching $82.35. The company had a trading volume of 46,600 shares, compared to its average volume of 59,347. The firm has a market cap of $1.37 billion, a PE ratio of 28.49, a PEG ratio of 4.05 and a beta of -0.01. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48. Chesapeake Utilities has a 1-year low of $66.35 and a 1-year high of $90.90.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Friday, September 14th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, September 13th. Chesapeake Utilities’s payout ratio is presently 51.21%.
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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