Brokerages Anticipate Chesapeake Utilities Co. (CPK) Will Post Quarterly Sales of $147.85 Million

Analysts expect Chesapeake Utilities Co. (NYSE:CPK) to report sales of $147.85 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Chesapeake Utilities’ earnings, with the highest sales estimate coming in at $153.70 million and the lowest estimate coming in at $142.00 million. Chesapeake Utilities reported sales of $141.87 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The firm is expected to report its next quarterly 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 fiscal year, with estimates ranging from $579.00 million to $590.90 million. For the next financial year, analysts expect that the company will post sales of $639.35 million per share, with estimates ranging from $631.00 million to $647.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Chesapeake Utilities.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, November 9th. The utilities provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. Chesapeake Utilities had a net margin of 7.58% and a return on equity of 9.58%. The firm had revenue of $126.94 million for the quarter, compared to analysts’ expectations of $123.65 million.

Several equities analysts have recently weighed in on CPK shares. Zacks Investment Research upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, November 14th. Sidoti started coverage on shares of Chesapeake Utilities in a report on Wednesday, October 18th. They issued a “neutral” rating and a $85.00 target price for the company.

In related news, insider John R. Schimkaitis sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $76.65, for a total value of $191,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas P. Hill, Jr. bought 1,000 shares of Chesapeake Utilities stock in a transaction that occurred on Thursday, December 21st. The stock was purchased at an average cost of $75.62 per share, with a total value of $75,620.00. The disclosure for this purchase can be found here. Corporate insiders own 4.16% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CPK. Schwab Charles Investment Management Inc. grew its holdings in Chesapeake Utilities by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 71,554 shares of the utilities provider’s stock valued at $5,363,000 after buying an additional 3,374 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Chesapeake Utilities by 118.2% during the 2nd quarter. Wells Fargo & Company MN now owns 42,346 shares of the utilities provider’s stock valued at $3,173,000 after buying an additional 22,935 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Chesapeake Utilities by 2.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 72,886 shares of the utilities provider’s stock valued at $5,463,000 after buying an additional 1,424 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Chesapeake Utilities by 4.2% during the 2nd quarter. New York State Common Retirement Fund now owns 27,250 shares of the utilities provider’s stock valued at $2,042,000 after buying an additional 1,099 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in Chesapeake Utilities by 22.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,965 shares of the utilities provider’s stock valued at $522,000 after buying an additional 1,300 shares in the last quarter. 61.91% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities (NYSE:CPK) opened at $68.35 on Friday. Chesapeake Utilities has a one year low of $64.30 and a one year high of $86.35. The company has a quick ratio of 0.39, a current ratio of 0.44 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1,131.04, a P/E ratio of 25.41, a PEG ratio of 3.40 and a beta of 0.15.

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About Chesapeake Utilities

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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