Zacks: Analysts Anticipate Chesapeake Utilities Corporation (CPK) to Post $0.34 EPS
Brokerages expect Chesapeake Utilities Corporation (NYSE:CPK) to report earnings of $0.34 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Chesapeake Utilities Corporation’s earnings, with estimates ranging from $0.30 to $0.38. Chesapeake Utilities Corporation reported earnings per share of $0.29 during the same quarter last year, which would indicate a positive year over year growth rate of 17.2%. The firm is expected to issue its next earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Chesapeake Utilities Corporation will report full year earnings of $2.83 per share for the current fiscal year, with EPS estimates ranging from $2.80 to $2.85. For the next fiscal year, analysts anticipate that the business will report earnings of $3.39 per share, with EPS estimates ranging from $3.30 to $3.47. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Chesapeake Utilities Corporation.
Chesapeake Utilities Corporation (NYSE:CPK) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $125.08 million during the quarter, compared to analyst estimates of $116.50 million. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis.
Several analysts have recently weighed in on CPK shares. Zacks Investment Research raised Chesapeake Utilities Corporation from a “strong sell” rating to a “hold” rating in a report on Monday. Sidoti started coverage on Chesapeake Utilities Corporation in a report on Wednesday, October 18th. They set a “neutral” rating and a $85.00 price objective on the stock. Finally, BidaskClub raised Chesapeake Utilities Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Six equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $73.00.
Shares of Chesapeake Utilities Corporation (NYSE:CPK) traded down 0.49% during trading on Monday, hitting $80.75. The company’s stock had a trading volume of 25,271 shares. Chesapeake Utilities Corporation has a 1-year low of $58.00 and a 1-year high of $82.15. The company has a market capitalization of $1.32 billion, a P/E ratio of 31.40 and a beta of 0.27. The firm’s 50 day moving average is $79.61 and its 200-day moving average is $76.25.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, September 14th. Chesapeake Utilities Corporation’s payout ratio is presently 50.78%.
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Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its holdings 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 in the last quarter. Victory Capital Management Inc. grew its holdings 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 in the last quarter. Envestnet Asset Management Inc. grew its holdings 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 in the last quarter. Advisory Services Network LLC grew its holdings 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 in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Chesapeake Utilities Corporation by 26.4% during the 1st quarter. Sei Investments Co. now owns 3,247 shares of the utilities provider’s stock worth $225,000 after purchasing an additional 679 shares in the last quarter. 61.33% of the stock is currently owned by institutional investors.
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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