Wall Street analysts predict that Chesapeake Utilities Corporation (NYSE:CPK) will announce sales of $123.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Chesapeake Utilities Corporation’s earnings, with the lowest sales estimate coming in at $117.50 million and the highest estimate coming in at $129.80 million. Chesapeake Utilities Corporation posted sales of $108.35 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.1%. The firm is scheduled to report its next earnings results on Thursday, November 2nd.

On average, analysts expect that Chesapeake Utilities Corporation will report full year sales of $123.65 million for the current fiscal year, with estimates ranging from $570.00 million to $593.30 million. For the next financial year, analysts expect that the firm will report sales of $636.05 million per share, with estimates ranging from $629.50 million to $642.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Chesapeake Utilities Corporation.

Chesapeake Utilities Corporation (NYSE:CPK) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.18). Chesapeake Utilities Corporation had a return on equity of 9.18% and a net margin of 7.40%. The firm had revenue of $125.08 million for the quarter, compared to analysts’ expectations of $116.50 million. During the same period last year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis.

Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of Chesapeake Utilities Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research lowered shares of Chesapeake Utilities Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.25.

Chesapeake Utilities Corporation (NYSE CPK) traded down 0.86% during midday trading on Monday, hitting $80.55. The stock had a trading volume of 8,087 shares. Chesapeake Utilities Corporation has a 52 week low of $57.63 and a 52 week high of $81.95. The firm has a market cap of $1.32 billion, a P/E ratio of 31.32 and a beta of 0.27. The stock has a 50-day moving average of $79.14 and a 200-day moving average of $74.24.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a $0.325 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.30 annualized dividend and a yield of 1.60%. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is presently 50.78%.

TRADEMARK VIOLATION WARNING: “$123.65 Million in Sales Expected for Chesapeake Utilities Corporation (CPK) This Quarter” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright legislation. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/09/18/123-65-million-in-sales-expected-for-chesapeake-utilities-corporation-cpk-this-quarter.html.

In related news, CEO P. Mcmasters Michael sold 5,500 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $74.56, for a total value of $410,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.36% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Phocas Financial Corp. grew its position in Chesapeake Utilities Corporation by 4.7% in the second quarter. Phocas Financial Corp. now owns 149,516 shares of the utilities provider’s stock worth $11,206,000 after acquiring an additional 6,670 shares in the last quarter. Advisory Services Network LLC grew its position in Chesapeake Utilities Corporation by 1.2% in the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 34 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Chesapeake Utilities Corporation by 11.9% in the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 148 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Chesapeake Utilities Corporation in the second quarter worth $526,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Chesapeake Utilities Corporation by 11.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,210 shares of the utilities provider’s stock worth $990,000 after acquiring an additional 1,391 shares in the last quarter. Institutional investors own 61.33% of the company’s stock.

Chesapeake Utilities Corporation Company Profile

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.

Get a free copy of the Zacks research report on Chesapeake Utilities Corporation (CPK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.