Equities analysts predict that Chesapeake Utilities Corporation (NYSE:CPK) will post sales of $123.65 million for the current quarter, according to Zacks. Two analysts have made estimates for Chesapeake Utilities Corporation’s earnings. The lowest sales estimate is $117.50 million and the highest is $129.80 million. Chesapeake Utilities Corporation reported sales of $108.35 million in the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.

On average, analysts expect that Chesapeake Utilities Corporation will report full year sales of $123.65 million for the current year, with estimates ranging from $570.00 million to $593.30 million. For the next financial year, analysts forecast that the business will post sales of $636.05 million per share, with estimates ranging from $629.50 million to $642.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for 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 (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.18). The company had revenue of $125.08 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS.

Separately, BidaskClub cut Chesapeake Utilities Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Chesapeake Utilities Corporation presently has a consensus rating of “Hold” and an average price target of $69.00.

Several hedge funds and other institutional investors have recently modified their holdings of CPK. Ameritas Investment Partners Inc. lifted its stake in shares of Chesapeake Utilities Corporation by 11.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 148 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Chesapeake Utilities Corporation by 36.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,265 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 608 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Chesapeake Utilities Corporation by 255.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,744 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 1,973 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Chesapeake Utilities Corporation by 1.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,812 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 46 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of Chesapeake Utilities Corporation by 1.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 61.33% of the company’s stock.

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Chesapeake Utilities Corporation (CPK) opened at 78.90 on Friday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 30.68 and a beta of 0.27. Chesapeake Utilities Corporation has a 52-week low of $58.00 and a 52-week high of $81.95. The stock has a 50 day moving average price of $79.27 and a 200 day moving average price of $75.33.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 15th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, September 14th. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is currently 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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