Wall Street brokerages forecast that Chesapeake Utilities Co. (NYSE:CPK) will report $142.85 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Chesapeake Utilities’ earnings, with the highest sales estimate coming in at $147.30 million and the lowest estimate coming in at $138.40 million. Chesapeake Utilities reported sales of $126.94 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The company is expected to announce its next quarterly earnings results on Thursday, November 8th.

On average, analysts expect that Chesapeake Utilities will report full-year sales of $680.70 million for the current fiscal year, with estimates ranging from $632.00 million to $731.60 million. For the next year, analysts expect that the business will post sales of $737.13 million, with estimates ranging from $657.00 million to $812.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Chesapeake Utilities.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%. The company had revenue of $136.66 million during the quarter, compared to the consensus estimate of $140.85 million.

Several research analysts have recently commented on CPK shares. ValuEngine raised Chesapeake Utilities from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. Zacks Investment Research downgraded Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Wells Fargo & Co raised their price objective on Chesapeake Utilities from $82.00 to $86.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Finally, Janney Montgomery Scott cut Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a research report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Chesapeake Utilities presently has a consensus rating of “Hold” and a consensus target price of $87.50.

Several large investors have recently added to or reduced their stakes in CPK. Wells Fargo & Company MN grew its position in shares of Chesapeake Utilities by 12.0% during the first quarter. Wells Fargo & Company MN now owns 91,603 shares of the utilities provider’s stock worth $6,444,000 after purchasing an additional 9,782 shares in the last quarter. Swiss National Bank grew its position in shares of Chesapeake Utilities by 2.7% during the first quarter. Swiss National Bank now owns 27,050 shares of the utilities provider’s stock worth $1,903,000 after purchasing an additional 700 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Chesapeake Utilities by 8.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 82,812 shares of the utilities provider’s stock worth $5,826,000 after purchasing an additional 6,235 shares in the last quarter. BlackRock Inc. grew its position in shares of Chesapeake Utilities by 2.8% during the first quarter. BlackRock Inc. now owns 1,049,461 shares of the utilities provider’s stock worth $73,831,000 after purchasing an additional 29,011 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Chesapeake Utilities by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 538,748 shares of the utilities provider’s stock worth $37,901,000 after purchasing an additional 2,288 shares in the last quarter. Hedge funds and other institutional investors own 63.67% of the company’s stock.

Shares of NYSE CPK traded down $1.72 during trading on Monday, hitting $79.79. The company had a trading volume of 38,018 shares, compared to its average volume of 58,715. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 0.48. Chesapeake Utilities has a 12 month low of $66.35 and a 12 month high of $90.90. The company has a market capitalization of $1.37 billion and a P/E ratio of 27.61.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 13th. Chesapeake Utilities’s dividend payout ratio is currently 51.21%.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Get a free copy of the Zacks research report on Chesapeake Utilities (CPK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.