Q3 2017 EPS Estimates for Chesapeake Utilities Corporation Lifted by Seaport Global Securities (NYSE:CPK)
Chesapeake Utilities Corporation (NYSE:CPK) – Investment analysts at Seaport Global Securities upped their Q3 2017 earnings per share estimates for Chesapeake Utilities Corporation in a research report issued on Monday. Seaport Global Securities analyst M. Levin now expects that the utilities provider will post earnings of $0.38 per share for the quarter, up from their previous estimate of $0.37. Seaport Global Securities also issued estimates for Chesapeake Utilities Corporation’s Q4 2017 earnings at $0.89 EPS and FY2017 earnings at $2.80 EPS.
Chesapeake Utilities Corporation (NYSE:CPK) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.18. Chesapeake Utilities Corporation had a net margin of 7.40% and a return on equity of 9.18%. The company had revenue of $125.08 million during the quarter, compared to analyst estimates of $116.50 million. During the same quarter in the prior year, the company earned $0.52 EPS. The business’s revenue was up 22.2% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: This report was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/08/08/q3-2017-eps-estimates-for-chesapeake-utilities-corporation-lifted-by-seaport-global-securities-nysecpk.html.
CPK has been the subject of several other research reports. Zacks Investment Research raised shares of Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Tuesday, May 2nd. BidaskClub downgraded shares of Chesapeake Utilities Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada started coverage on shares of Chesapeake Utilities Corporation in a research report on Wednesday, April 26th. They issued a “sector perform” rating and a $75.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $72.00.
Chesapeake Utilities Corporation (CPK) opened at 78.80 on Tuesday. The firm has a 50-day moving average of $75.84 and a 200 day moving average of $71.20. Chesapeake Utilities Corporation has a 1-year low of $57.63 and a 1-year high of $78.95. The firm has a market cap of $1.29 billion, a P/E ratio of 28.81 and a beta of 0.27.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, September 14th. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is presently 50.78%.
In other news, CEO P. Mcmasters Michael sold 5,500 shares of Chesapeake Utilities Corporation stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $74.56, for a total value of $410,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.36% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in Chesapeake Utilities Corporation during the first quarter valued at approximately $12,150,000. Ameriprise Financial Inc. raised its position in Chesapeake Utilities Corporation by 26.2% in the first quarter. Ameriprise Financial Inc. now owns 119,784 shares of the utilities provider’s stock valued at $8,289,000 after buying an additional 24,873 shares during the period. Russell Investments Group Ltd. raised its position in Chesapeake Utilities Corporation by 71.5% in the first quarter. Russell Investments Group Ltd. now owns 56,645 shares of the utilities provider’s stock valued at $3,918,000 after buying an additional 23,622 shares during the period. Renaissance Technologies LLC raised its position in Chesapeake Utilities Corporation by 5.2% in the first quarter. Renaissance Technologies LLC now owns 232,450 shares of the utilities provider’s stock valued at $16,086,000 after buying an additional 11,450 shares during the period. Finally, Teachers Advisors LLC raised its position in Chesapeake Utilities Corporation by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 203,122 shares of the utilities provider’s stock valued at $13,599,000 after buying an additional 18,775 shares during the period. 59.99% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Chesapeake Utilities Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities Corporation and related companies with MarketBeat.com's FREE daily email newsletter.