Chesapeake Utilities (NYSE:CPK) Releases Earnings Results, Misses Estimates By $0.04 EPS

Chesapeake Utilities (NYSE:CPK) announced its quarterly earnings data on Thursday. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04), Bloomberg Earnings reports. The firm had revenue of $130.90 million during the quarter, compared to analyst estimates of $169.40 million. Chesapeake Utilities had a net margin of 8.62% and a return on equity of 11.42%.

Chesapeake Utilities stock traded down $1.46 during midday trading on Friday, hitting $91.44. 58,496 shares of the company were exchanged, compared to its average volume of 68,564. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 3.57 and a beta of 0.24. Chesapeake Utilities has a fifty-two week low of $77.20 and a fifty-two week high of $96.27. The stock’s fifty day simple moving average is $93.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.30 and a quick ratio of 0.27.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 13th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, September 12th. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.94%.

In related news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.20, for a total transaction of $235,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.18% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of CPK. Cox Capital Mgt LLC grew its holdings in Chesapeake Utilities by 1.7% in the second quarter. Cox Capital Mgt LLC now owns 11,136 shares of the utilities provider’s stock valued at $1,058,000 after purchasing an additional 182 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Chesapeake Utilities by 99.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,093 shares of the utilities provider’s stock valued at $465,000 after purchasing an additional 2,545 shares during the period. Affinity Wealth Management LLC acquired a new stake in Chesapeake Utilities in the first quarter valued at approximately $264,000. GYL Financial Synergies LLC acquired a new stake in Chesapeake Utilities in the first quarter valued at approximately $1,313,000. Finally, Millennium Management LLC grew its holdings in Chesapeake Utilities by 517.8% in the fourth quarter. Millennium Management LLC now owns 66,381 shares of the utilities provider’s stock valued at $5,397,000 after purchasing an additional 55,637 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

CPK has been the topic of a number of research reports. Zacks Investment Research lowered Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Friday, July 12th. ValuEngine lowered Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Maxim Group reissued a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of Chesapeake Utilities in a report on Friday. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Chesapeake Utilities in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Chesapeake Utilities currently has an average rating of “Hold” and an average price target of $99.81.

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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Earnings History for Chesapeake Utilities (NYSE:CPK)

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