US Capital Advisors Comments on Chesapeake Utilities Co.’s FY2018 Earnings (CPK)

Chesapeake Utilities Co. (NYSE:CPK) – Stock analysts at US Capital Advisors raised their FY2018 EPS estimates for shares of Chesapeake Utilities in a note issued to investors on Wednesday, according to Zacks Investment Research. US Capital Advisors analyst D. Fidell now expects that the utilities provider will post earnings of $3.50 per share for the year, up from their previous estimate of $3.40.

Separately, Zacks Investment Research raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Tuesday, January 10th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Chesapeake Utilities presently has an average rating of “Hold” and an average target price of $68.60.

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Chesapeake Utilities (NYSE:CPK) traded up 0.35% during midday trading on Thursday, reaching $71.75. 36,306 shares of the company’s stock traded hands. The stock has a 50-day moving average of $69.12 and a 200 day moving average of $65.69. Chesapeake Utilities has a 52-week low of $56.56 and a 52-week high of $72.00. The company has a market cap of $1.17 billion, a P/E ratio of 25.09 and a beta of 0.20.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Monday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The firm earned $141.90 million during the quarter, compared to analysts’ expectations of $116.70 million. Chesapeake Utilities had a net margin of 8.98% and a return on equity of 11.34%. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th were issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Monday, March 13th. Chesapeake Utilities’s dividend payout ratio is currently 45.19%.

In related news, insider John R. Schimkaitis sold 2,125 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $68.70, for a total value of $145,987.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffry M. Householder sold 1,400 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $68.73, for a total value of $96,222.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,118 shares of company stock worth $283,720. 5.36% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of CPK. Victory Capital Management Inc. boosted its position in shares of Chesapeake Utilities by 17.5% in the third quarter. Victory Capital Management Inc. now owns 1,697 shares of the utilities provider’s stock worth $104,000 after buying an additional 253 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Chesapeake Utilities during the third quarter worth about $159,000. Envestnet Asset Management Inc. boosted its position in shares of Chesapeake Utilities by 16.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,766 shares of the utilities provider’s stock valued at $186,000 after buying an additional 391 shares during the period. Sei Investments Co. boosted its position in shares of Chesapeake Utilities by 3,095.5% in the third quarter. Sei Investments Co. now owns 3,547 shares of the utilities provider’s stock valued at $216,000 after buying an additional 3,436 shares during the period. Finally, Creative Planning boosted its position in shares of Chesapeake Utilities by 6.8% in the first quarter. Creative Planning now owns 3,117 shares of the utilities provider’s stock valued at $216,000 after buying an additional 198 shares during the period. Institutional investors own 56.97% of the company’s stock.

Chesapeake Utilities Company Profile

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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