Zacks: Analysts Anticipate Chesapeake Utilities Co. (CPK) Will Post Earnings of $0.48 Per Share

Wall Street analysts expect Chesapeake Utilities Co. (NYSE:CPK) to report earnings per share of $0.48 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued 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 of $0.42 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 14.3%. The business is expected to announce its next earnings results after the market closes 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 report earnings of $3.67 per share, with EPS estimates ranging from $3.66 to $3.70. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Chesapeake Utilities.

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



CPK has been the subject of several research reports. ValuEngine upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. Wells Fargo & Co raised their price objective on shares of Chesapeake Utilities from $82.00 to $86.00 and gave the stock a “market perform” rating in a research report on Monday, September 17th. Zacks Investment Research downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Janney Montgomery Scott downgraded shares of Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 price target 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 issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $88.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tortoise Index Solutions LLC raised its position in shares of Chesapeake Utilities by 14.3% in the second quarter. Tortoise Index Solutions LLC now owns 8,564 shares of the utilities provider’s stock valued at $685,000 after buying an additional 1,072 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Chesapeake Utilities by 2,424.6% in the second quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock valued at $115,000 after buying an additional 1,382 shares in the last quarter. Swiss National Bank raised its position in shares of Chesapeake Utilities by 5.2% in the second quarter. Swiss National Bank now owns 28,450 shares of the utilities provider’s stock valued at $2,275,000 after buying an additional 1,400 shares in the last quarter. Tufton Capital Management raised its position in shares of Chesapeake Utilities by 1.4% in the third quarter. Tufton Capital Management now owns 108,179 shares of the utilities provider’s stock valued at $9,076,000 after buying an additional 1,500 shares in the last quarter. Finally, Summit Global Investments raised its position in shares of Chesapeake Utilities by 26.1% in the second quarter. Summit Global Investments now owns 8,700 shares of the utilities provider’s stock valued at $696,000 after buying an additional 1,800 shares in the last quarter. Institutional investors own 63.49% of the company’s stock.

Shares of CPK stock opened at $80.77 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.27. The company has a market cap of $1.33 billion and a price-to-earnings ratio of 27.95. Chesapeake Utilities has a 12-month low of $66.35 and a 12-month high of $93.09.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 14th were given a $0.37 dividend. The ex-dividend date was Thursday, September 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.83%. Chesapeake Utilities’s payout ratio is 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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