Chesapeake Utilities Co. (NYSE:CPK) Expected to Announce Earnings of $0.37 Per Share

Wall Street brokerages expect that Chesapeake Utilities Co. (NYSE:CPK) will post $0.37 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Chesapeake Utilities’ earnings. The lowest EPS estimate is $0.33 and the highest is $0.40. Chesapeake Utilities reported earnings of $0.34 per share in the same quarter last year, which would suggest a positive year over year growth rate of 8.8%. The firm is expected to report its next earnings report on Thursday, November 14th.

On average, analysts expect that Chesapeake Utilities will report full-year earnings of $3.72 per share for the current year, with EPS estimates ranging from $3.66 to $3.78. For the next financial year, analysts forecast that the business will post earnings of $3.94 per share, with EPS estimates ranging from $3.93 to $3.95. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Chesapeake Utilities.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.04). Chesapeake Utilities had a net margin of 8.62% and a return on equity of 11.30%. The company had revenue of $130.90 million for the quarter, compared to analysts’ expectations of $169.40 million.

CPK has been the subject of a number of research analyst reports. ValuEngine lowered Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Maxim Group reissued a “buy” rating and set a $110.00 price target (up from $100.00) on shares of Chesapeake Utilities in a research note on Friday, August 9th. Finally, Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $98.81.

In related news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $94.41, for a total transaction of $236,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 2,858 shares of company stock valued at $269,817 over the last three months. 4.18% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its holdings in shares of Chesapeake Utilities by 3,829.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 112,646 shares of the utilities provider’s stock valued at $10,704,000 after acquiring an additional 109,779 shares during the period. Vanguard Group Inc. lifted its position in Chesapeake Utilities by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,038,030 shares of the utilities provider’s stock worth $98,633,000 after acquiring an additional 52,523 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Chesapeake Utilities by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,281,339 shares of the utilities provider’s stock worth $216,773,000 after acquiring an additional 43,274 shares during the period. BlackRock Inc. lifted its position in Chesapeake Utilities by 2.4% during the 2nd quarter. BlackRock Inc. now owns 1,353,148 shares of the utilities provider’s stock worth $128,576,000 after acquiring an additional 31,273 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Chesapeake Utilities during the 2nd quarter worth about $2,471,000. 65.55% of the stock is owned by hedge funds and other institutional investors.

Shares of CPK stock traded up $1.12 on Friday, reaching $94.64. 287 shares of the company’s stock were exchanged, compared to its average volume of 61,871. Chesapeake Utilities has a 52 week low of $77.20 and a 52 week high of $97.00. The company has a current ratio of 0.24, a quick ratio of 0.22 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.55 billion, a PE ratio of 28.56, a P/E/G ratio of 3.59 and a beta of 0.19. The company’s fifty day simple moving average is $94.24 and its 200 day simple moving average is $93.16.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 13th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Thursday, September 12th. Chesapeake Utilities’s dividend payout ratio is currently 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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