Chesapeake Utilities Co. (CPK) Expected to Post Earnings of $0.48 Per Share

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Equities research analysts expect Chesapeake Utilities Co. (NYSE:CPK) to report $0.48 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Chesapeake Utilities’ earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.45. Chesapeake Utilities reported earnings per share of $0.42 during the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The company is expected to issue its next earnings report on Thursday, November 8th.

On average, analysts expect that Chesapeake Utilities will report full year earnings of $3.41 per share for the current year, with EPS estimates ranging from $3.40 to $3.42. For the next financial year, analysts expect that the business will post earnings of $3.67 per share, with EPS estimates ranging from $3.66 to $3.70. Zacks’ EPS calculations are a mean average based on a survey of sell-side 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a net margin of 9.68% and a return on equity of 10.75%. The business had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $140.85 million.

A number of research firms recently issued reports on CPK. Zacks Investment Research cut Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Monday, July 16th. ValuEngine upgraded Chesapeake Utilities from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Janney Montgomery Scott cut Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 price objective for the company. in a report on Monday, September 24th. Finally, Wells Fargo & Co boosted their price objective on Chesapeake Utilities from $82.00 to $86.00 and gave the company a “market perform” rating in a report on Monday, September 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Chesapeake Utilities currently has a consensus rating of “Hold” and a consensus price target of $87.50.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Chesapeake Utilities by 13.9% in the 2nd quarter. BlackRock Inc. now owns 1,195,316 shares of the utilities provider’s stock worth $95,566,000 after buying an additional 145,855 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Chesapeake Utilities by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 543,699 shares of the utilities provider’s stock worth $43,469,000 after buying an additional 4,951 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Chesapeake Utilities by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 341,300 shares of the utilities provider’s stock worth $27,287,000 after buying an additional 29,100 shares during the period. Northern Trust Corp lifted its holdings in shares of Chesapeake Utilities by 1.2% in the 2nd quarter. Northern Trust Corp now owns 206,591 shares of the utilities provider’s stock worth $16,516,000 after buying an additional 2,466 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Chesapeake Utilities by 131.4% in the 1st quarter. Millennium Management LLC now owns 138,449 shares of the utilities provider’s stock worth $9,740,000 after buying an additional 78,623 shares during the period. Institutional investors and hedge funds own 63.67% of the company’s stock.

CPK traded down $1.72 during trading hours on Friday, reaching $79.79. 38,018 shares of the company’s stock traded hands, compared to its average volume of 58,715. Chesapeake Utilities has a 52-week low of $66.35 and a 52-week high of $90.90. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.37 billion and a P/E ratio of 27.61.

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

About Chesapeake Utilities

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.

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