$147.85 Million in Sales Expected for Chesapeake Utilities Co. (CPK) This Quarter

Brokerages predict that Chesapeake Utilities Co. (NYSE:CPK) will report sales of $147.85 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Chesapeake Utilities’ earnings. The lowest sales estimate is $142.00 million and the highest is $153.70 million. Chesapeake Utilities reported sales of $141.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The business is scheduled to announce its next earnings report on Monday, February 26th.

According to Zacks, analysts expect that Chesapeake Utilities will report full-year sales of $147.85 million for the current financial year, with estimates ranging from $579.00 million to $590.90 million. For the next fiscal year, analysts forecast that the firm will report sales of $639.35 million per share, with estimates ranging from $631.00 million to $647.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Chesapeake Utilities.

A number of brokerages recently commented on CPK. Sidoti began coverage on Chesapeake Utilities in a research note on Wednesday, October 18th. They set a “neutral” rating and a $85.00 price objective for the company. Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, November 14th. Finally, BidaskClub raised Chesapeake Utilities from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $79.25.

A number of large investors have recently bought and sold shares of the business. Advisory Services Network LLC lifted its holdings in shares of Chesapeake Utilities by 1.2% in the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 34 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Chesapeake Utilities by 2.4% in the second quarter. Legal & General Group Plc now owns 3,865 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 90 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Chesapeake Utilities by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 12,280 shares of the utilities provider’s stock valued at $921,000 after purchasing an additional 127 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Chesapeake Utilities by 11.9% in the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 148 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Chesapeake Utilities by 1.1% in the second quarter. Rhumbline Advisers now owns 19,125 shares of the utilities provider’s stock valued at $1,433,000 after purchasing an additional 202 shares in the last quarter. 62.21% of the stock is owned by hedge funds and other institutional investors.

Shares of Chesapeake Utilities (CPK) opened at $84.75 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.44. Chesapeake Utilities has a 52 week low of $63.00 and a 52 week high of $86.35. The company has a market capitalization of $1,398.27, a price-to-earnings ratio of 31.80, a P/E/G ratio of 5.00 and a beta of 0.26.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.30 dividend on an annualized basis and a yield of 1.53%. Chesapeake Utilities’s payout ratio is 48.33%.

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Chesapeake Utilities 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.

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