Chesapeake Utilities Co. (CPK) Expected to Announce Quarterly Sales of $206.60 Million
Equities analysts predict that Chesapeake Utilities Co. (NYSE:CPK) will announce $206.60 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Chesapeake Utilities’ earnings. The highest sales estimate is $214.90 million and the lowest is $198.30 million. Chesapeake Utilities reported sales of $185.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.6%. The company is expected to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Chesapeake Utilities will report full-year sales of $206.60 million for the current financial year, with estimates ranging from $640.60 million to $685.10 million. For the next financial year, analysts expect that the firm will report sales of $707.95 million per share, with estimates ranging from $696.60 million to $719.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Chesapeake Utilities.
Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, February 28th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. Chesapeake Utilities had a net margin of 9.41% and a return on equity of 10.10%. The business had revenue of $180.40 million for the quarter, compared to analysts’ expectations of $147.85 million.
In related news, insider John R. Schimkaitis sold 2,500 shares of Chesapeake Utilities stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $76.65, for a total value of $191,625.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas P. Hill, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was bought at an average price of $75.62 per share, with a total value of $75,620.00. The disclosure for this purchase can be found here. 4.16% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Chesapeake Utilities by 3.5% in the fourth quarter. BlackRock Inc. now owns 1,020,450 shares of the utilities provider’s stock worth $80,158,000 after buying an additional 34,339 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Chesapeake Utilities by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 531,966 shares of the utilities provider’s stock valued at $41,627,000 after purchasing an additional 6,981 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Chesapeake Utilities by 0.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 344,809 shares of the utilities provider’s stock valued at $27,085,000 after purchasing an additional 2,442 shares during the last quarter. William Blair Investment Management LLC increased its stake in Chesapeake Utilities by 9.6% during the fourth quarter. William Blair Investment Management LLC now owns 332,218 shares of the utilities provider’s stock valued at $26,096,000 after purchasing an additional 29,037 shares during the last quarter. Finally, State Street Corp increased its stake in Chesapeake Utilities by 2.6% during the second quarter. State Street Corp now owns 320,874 shares of the utilities provider’s stock valued at $24,043,000 after purchasing an additional 8,078 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.
Shares of Chesapeake Utilities (CPK) opened at $70.35 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.38. Chesapeake Utilities has a 12-month low of $66.35 and a 12-month high of $86.35. The stock has a market cap of $1,158.00, a P/E ratio of 19.82, a P/E/G ratio of 3.43 and a beta of 0.26.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be paid a $0.325 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.85%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 36.62%.
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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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