Chesapeake Utilities Co. (CPK) Expected to Post Earnings of $0.86 Per Share

Wall Street analysts forecast that Chesapeake Utilities Co. (NYSE:CPK) will announce $0.86 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Chesapeake Utilities’ earnings. The highest EPS estimate is $0.91 and the lowest is $0.75. Chesapeake Utilities reported earnings of $0.73 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.8%. The firm is expected to announce its next quarterly earnings report on Monday, February 26th.

On average, analysts expect that Chesapeake Utilities will report full year earnings of $2.85 per share for the current fiscal year, with EPS estimates ranging from $2.81 to $2.87. For the next fiscal year, analysts anticipate that the company will report earnings of $3.42 per share, with EPS estimates ranging from $3.35 to $3.45. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Chesapeake Utilities.

CPK has been the topic of a number of recent research reports. Zacks Investment Research lowered Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Sidoti started coverage on Chesapeake Utilities in a report on Wednesday, October 18th. They issued a “neutral” rating and a $85.00 target price on the stock.

Chesapeake Utilities (NYSE CPK) remained flat at $$76.05 during trading on Thursday. The company’s stock had a trading volume of 79,158 shares, compared to its average volume of 54,367. Chesapeake Utilities has a 12 month low of $63.00 and a 12 month high of $86.35. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1,265.06, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 3.78 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 issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, December 14th. Chesapeake Utilities’s dividend payout ratio is presently 48.33%.

In other Chesapeake Utilities news, Director Thomas P. Hill, Jr. bought 1,000 shares of Chesapeake Utilities stock in a transaction on Thursday, December 21st. The shares were purchased at an average price of $75.62 per share, with a total value of $75,620.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.16% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its holdings in shares of Chesapeake Utilities by 11.9% in the 2nd 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. Pitcairn Co. acquired a new stake in shares of Chesapeake Utilities in the 3rd quarter valued at $201,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Chesapeake Utilities in the 3rd quarter valued at $207,000. Victory Capital Management Inc. boosted its holdings in shares of Chesapeake Utilities by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,663 shares of the utilities provider’s stock valued at $200,000 after purchasing an additional 398 shares in the last quarter. Finally, Symons Capital Management Inc. acquired a new stake in shares of Chesapeake Utilities in the 3rd quarter valued at $223,000. 62.16% of the stock is currently owned by hedge funds and other institutional investors.

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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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