$169.40 Million in Sales Expected for Chesapeake Utilities Co. (NYSE:CPK) This Quarter

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Wall Street brokerages forecast that Chesapeake Utilities Co. (NYSE:CPK) will announce $169.40 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Chesapeake Utilities’ earnings, with the lowest sales estimate coming in at $159.70 million and the highest estimate coming in at $179.10 million. Chesapeake Utilities posted sales of $136.66 million during the same quarter last year, which suggests a positive year over year growth rate of 24%. The firm is expected to report its next earnings results before the market opens on Thursday, August 8th.

On average, analysts expect that Chesapeake Utilities will report full-year sales of $783.43 million for the current financial year, with estimates ranging from $752.00 million to $812.30 million. For the next financial year, analysts expect that the business will report sales of $838.37 million, with estimates ranging from $774.00 million to $882.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Chesapeake Utilities.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, May 8th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.08. The firm had revenue of $227.62 million during the quarter, compared to analyst estimates of $271.10 million. Chesapeake Utilities had a return on equity of 11.41% and a net margin of 8.27%.

A number of analysts have issued reports on CPK shares. Zacks Investment Research downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Maxim Group set a $100.00 price target on Chesapeake Utilities and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Chesapeake Utilities in a report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $97.31.

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of Chesapeake Utilities stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.20, for a total transaction of $235,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.18% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of Chesapeake Utilities by 40.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 398 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Chesapeake Utilities by 0.5% during the first quarter. California Public Employees Retirement System now owns 27,076 shares of the utilities provider’s stock worth $2,470,000 after purchasing an additional 129 shares in the last quarter. Cox Capital Mgt LLC increased its position in shares of Chesapeake Utilities by 1.3% during the first quarter. Cox Capital Mgt LLC now owns 10,954 shares of the utilities provider’s stock worth $999,000 after purchasing an additional 141 shares in the last quarter. Fruth Investment Management increased its position in shares of Chesapeake Utilities by 0.8% during the second quarter. Fruth Investment Management now owns 23,714 shares of the utilities provider’s stock worth $2,253,000 after purchasing an additional 188 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in shares of Chesapeake Utilities by 80.0% during the first quarter. Tradewinds Capital Management LLC now owns 450 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Shares of NYSE CPK opened at $93.46 on Monday. The stock has a market cap of $1.53 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 3.59 and a beta of 0.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.30 and a quick ratio of 0.27. The business’s 50-day simple moving average is $93.43. Chesapeake Utilities has a 1 year low of $77.20 and a 1 year high of $96.27.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.73%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, June 13th. Chesapeake Utilities’s payout ratio is 48.94%.

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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