Equities Analysts Offer Predictions for Chesapeake Utilities Corporation’s FY2019 Earnings (CPK)
Chesapeake Utilities Corporation (NYSE:CPK) – Equities researchers at Seaport Global Securities issued their FY2019 earnings per share (EPS) estimates for Chesapeake Utilities Corporation in a research report issued on Monday. Seaport Global Securities analyst M. Levin expects that the utilities provider will post earnings per share of $3.45 for the year.
Chesapeake Utilities Corporation (NYSE:CPK) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.55 by $0.18. The business had revenue of $125.08 million for the quarter, compared to the consensus estimate of $116.50 million. Chesapeake Utilities Corporation had a return on equity of 9.18% and a net margin of 7.40%. Chesapeake Utilities Corporation’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS.
A number of other research firms have also commented on CPK. BidaskClub upgraded Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada assumed coverage on Chesapeake Utilities Corporation in a research note on Wednesday, April 26th. They issued a “sector perform” rating and a $75.00 price objective on the stock. Finally, Zacks Investment Research downgraded Chesapeake Utilities Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Chesapeake Utilities Corporation presently has an average rating of “Hold” and a consensus price target of $72.25.
Shares of Chesapeake Utilities Corporation (NYSE:CPK) traded down 0.19% during mid-day trading on Wednesday, hitting $79.10. The stock had a trading volume of 17,517 shares. The firm has a market cap of $1.29 billion, a PE ratio of 28.92 and a beta of 0.27. The stock has a 50 day moving average price of $75.84 and a 200 day moving average price of $71.20. Chesapeake Utilities Corporation has a 52 week low of $57.63 and a 52 week high of $79.30.
A number of hedge funds and other institutional investors have recently bought and sold shares of CPK. Victory Capital Management Inc. boosted 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 buying an additional 608 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 buying an additional 1,973 shares during the last quarter. Envestnet Asset Management Inc. boosted 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 buying an additional 46 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Chesapeake Utilities Corporation during the first quarter valued at $204,000. Finally, Eqis Capital Management Inc. purchased a new stake in Chesapeake Utilities Corporation during the first quarter valued at $208,000. 59.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO P. Mcmasters Michael sold 5,500 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $74.56, for a total value of $410,080.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.36% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, September 14th. Chesapeake Utilities Corporation’s dividend payout ratio is 50.78%.
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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