$140.85 Million in Sales Expected for Chesapeake Utilities Co. (CPK) This Quarter
Brokerages expect Chesapeake Utilities Co. (NYSE:CPK) to announce sales of $140.85 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Chesapeake Utilities’ earnings, with the lowest sales estimate coming in at $139.80 million and the highest estimate coming in at $141.90 million. Chesapeake Utilities posted sales of $125.08 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The company is scheduled to report its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Chesapeake Utilities will report full-year sales of $698.65 million for the current financial year, with estimates ranging from $671.20 million to $726.10 million. For the next fiscal year, analysts expect that the business will report sales of $759.15 million per share, with estimates ranging from $723.50 million to $794.80 million. Zacks’ sales averages are an average based on a survey of research firms that cover Chesapeake Utilities.
Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, May 9th. The utilities provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.04. Chesapeake Utilities had a return on equity of 10.64% and a net margin of 9.80%.
In other Chesapeake Utilities news, insider Stephen C. Thompson sold 1,322 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $76.57, for a total value of $101,225.54. Following the completion of the transaction, the insider now owns 73,605 shares of the company’s stock, valued at approximately $5,635,934.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John R. Schimkaitis sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $71.00, for a total value of $177,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,422 shares of company stock valued at $927,565. Insiders own 4.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC bought a new stake in shares of Chesapeake Utilities in the 1st quarter valued at approximately $156,000. Telemus Capital LLC bought a new stake in shares of Chesapeake Utilities in the 4th quarter valued at approximately $237,000. LPL Financial LLC bought a new stake in shares of Chesapeake Utilities in the 1st quarter valued at approximately $217,000. Northeast Financial Consultants Inc bought a new stake in shares of Chesapeake Utilities in the 4th quarter valued at approximately $282,000. Finally, Pitcairn Co. bought a new stake in shares of Chesapeake Utilities in the 1st quarter valued at approximately $306,000. Institutional investors own 64.70% of the company’s stock.
Shares of NYSE CPK traded up $2.25 during trading hours on Wednesday, hitting $78.60. 40,130 shares of the company’s stock were exchanged, compared to its average volume of 50,569. Chesapeake Utilities has a 1-year low of $66.35 and a 1-year high of $86.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.34 and a current ratio of 0.37. The stock has a market capitalization of $1.25 billion, a PE ratio of 27.20, a P/E/G ratio of 3.66 and a beta of 0.20.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Friday, June 15th will be issued a $0.37 dividend. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, June 14th. This represents a $1.48 annualized dividend and a yield of 1.88%. Chesapeake Utilities’s dividend payout ratio is 44.98%.
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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