Chesapeake Utilities Co. (CPK) Expected to Post Earnings of $1.22 Per Share

Analysts forecast that Chesapeake Utilities Co. (NYSE:CPK) will post $1.22 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Chesapeake Utilities’ earnings, with the lowest EPS estimate coming in at $1.18 and the highest estimate coming in at $1.29. Chesapeake Utilities posted earnings per share of $0.93 during the same quarter last year, which indicates a positive year over year growth rate of 31.2%. The firm is expected to report its next earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Chesapeake Utilities will report full-year earnings of $3.39 per share for the current year, with EPS estimates ranging from $3.38 to $3.40. For the next fiscal year, analysts forecast that the firm will post earnings of $3.67 per share, with EPS estimates ranging from $3.64 to $3.70. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Chesapeake Utilities.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.15). Chesapeake Utilities had a net margin of 9.31% and a return on equity of 10.25%. The firm had revenue of $140.28 million for the quarter, compared to analysts’ expectations of $142.85 million.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Co lifted their price objective on shares of Chesapeake Utilities from $82.00 to $86.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Zacks Investment Research cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. ValuEngine cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Janney Montgomery Scott upgraded shares of Chesapeake Utilities from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Friday, November 2nd. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $88.33.

A number of institutional investors and hedge funds have recently made changes to their positions in CPK. LPL Financial LLC bought a new stake in Chesapeake Utilities in the first quarter worth $217,000. Cornerstone Wealth Management LLC bought a new stake in Chesapeake Utilities in the second quarter worth $957,000. Creative Planning bought a new stake in Chesapeake Utilities in the second quarter worth $227,000. AdvisorNet Financial Inc increased its position in Chesapeake Utilities by 2,424.6% in the second quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 1,382 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Chesapeake Utilities by 61.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 28,875 shares of the utilities provider’s stock worth $2,309,000 after purchasing an additional 11,013 shares during the last quarter. Institutional investors own 64.84% of the company’s stock.

NYSE:CPK traded up $1.10 during trading hours on Friday, hitting $83.30. 12,921 shares of the stock traded hands, compared to its average volume of 42,788. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.27. Chesapeake Utilities has a 1 year low of $66.35 and a 1 year high of $93.09. The company has a market capitalization of $1.35 billion, a P/E ratio of 28.82, a P/E/G ratio of 4.09 and a beta of 0.09.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Friday, December 14th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 13th. Chesapeake Utilities’s dividend 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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