Chesapeake Utilities Corporation (CPK) Expected to Announce Quarterly Sales of $123.65 Million
Equities research analysts expect Chesapeake Utilities Corporation (NYSE:CPK) to post $123.65 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Chesapeake Utilities Corporation’s earnings, with the lowest sales estimate coming in at $117.50 million and the highest estimate coming in at $129.80 million. Chesapeake Utilities Corporation reported sales of $108.35 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.1%. The business is expected to announce its next earnings report on Thursday, November 2nd.
On average, analysts expect that Chesapeake Utilities Corporation will report full-year sales of $123.65 million for the current fiscal year, with estimates ranging from $570.00 million to $593.30 million. For the next year, analysts anticipate that the business will post sales of $636.05 million per share, with estimates ranging from $629.50 million to $642.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Chesapeake Utilities Corporation.
Chesapeake Utilities Corporation (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.18). Chesapeake Utilities Corporation had a return on equity of 9.18% and a net margin of 7.40%. The business had revenue of $125.08 million during the quarter, compared to analyst estimates of $116.50 million. During the same period in the previous year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis.
Separately, BidaskClub downgraded Chesapeake Utilities Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.00.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its stake in Chesapeake Utilities Corporation by 11.9% in the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 148 shares in the last quarter. Victory Capital Management Inc. grew its stake in Chesapeake Utilities Corporation by 36.7% in the first quarter. Victory Capital Management Inc. now owns 2,265 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 608 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Chesapeake Utilities Corporation by 255.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,744 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 1,973 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Chesapeake Utilities Corporation by 1.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,812 shares of the utilities provider’s stock valued at $194,000 after purchasing an additional 46 shares in the last quarter. Finally, Advisory Services Network LLC grew its stake in Chesapeake Utilities Corporation by 1.2% in the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 61.33% of the company’s stock.
Chesapeake Utilities Corporation (CPK) traded up 1.14% during trading on Friday, hitting $79.60. The stock had a trading volume of 42,466 shares. Chesapeake Utilities Corporation has a 1-year low of $58.00 and a 1-year high of $81.95. The firm’s 50 day moving average is $79.26 and its 200 day moving average is $75.40. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 30.95 and a beta of 0.27.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were paid a $0.325 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.30 dividend on an annualized basis and a yield of 1.63%. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is currently 50.78%.
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About Chesapeake Utilities Corporation
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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