Zacks: Brokerages Anticipate Chesapeake Utilities Co. (CPK) Will Post Quarterly Sales of $147.85 Million

Wall Street analysts expect Chesapeake Utilities Co. (NYSE:CPK) to announce $147.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Chesapeake Utilities’ earnings, with estimates ranging from $142.00 million to $153.70 million. Chesapeake Utilities reported sales of $141.87 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The firm is expected to issue its next quarterly earnings report on Monday, February 26th.

On average, analysts expect that Chesapeake Utilities will report full year sales of $147.85 million for the current fiscal year, with estimates ranging from $579.00 million to $590.90 million. For the next fiscal year, analysts forecast that the firm will post sales of $639.35 million per share, with estimates ranging from $631.00 million to $647.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Chesapeake Utilities.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, November 9th. The utilities provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.07. Chesapeake Utilities had a net margin of 7.58% and a return on equity of 9.58%.

CPK has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Tuesday, November 14th. Sidoti initiated coverage on shares of Chesapeake Utilities in a research note on Wednesday, October 18th. They set a “neutral” rating and a $85.00 price target for the company.

In other news, Director Thomas P. Hill, Jr. purchased 1,000 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was purchased at an average cost of $75.62 per share, with a total value of $75,620.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $76.65, for a total transaction of $191,625.00. The disclosure for this sale can be found here. 4.16% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Chesapeake Utilities by 11.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 148 shares during the last quarter. Pitcairn Co. bought a new stake in shares of Chesapeake Utilities during the 3rd quarter worth $201,000. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Chesapeake Utilities during the 3rd quarter worth $207,000. Symons Capital Management Inc. bought a new stake in shares of Chesapeake Utilities during the 3rd quarter worth $223,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Chesapeake Utilities by 1.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 34 shares during the last quarter. 62.16% of the stock is owned by institutional investors.

Shares of Chesapeake Utilities (NYSE CPK) opened at $71.85 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.44. Chesapeake Utilities has a one year low of $63.10 and a one year high of $86.35. The stock has a market cap of $1,170.00, a P/E ratio of 26.81, a PEG ratio of 3.40 and a beta of 0.27.

The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 15th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, December 14th. Chesapeake Utilities’s payout ratio is 48.51%.

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Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

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