Chesapeake Utilities (NYSE:CPK) Releases FY 2024 Earnings Guidance

Chesapeake Utilities (NYSE:CPK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.330-5.450 for the period, compared to the consensus estimate of 5.390. The company issued revenue guidance of -. Chesapeake Utilities also updated its FY 2025 guidance to 6.150-6.350 EPS.

Analyst Upgrades and Downgrades

CPK has been the subject of a number of research analyst reports. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday. Barclays lifted their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock traded up $3.10 during trading on Friday, hitting $124.63. 106,384 shares of the company’s stock traded hands, compared to its average volume of 80,384. Chesapeake Utilities has a twelve month low of $83.79 and a twelve month high of $128.13. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. The company has a market cap of $2.80 billion, a PE ratio of 25.28 and a beta of 0.61. The firm’s fifty day moving average price is $120.86 and its 200 day moving average price is $114.67.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $194.70 million. Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. Analysts forecast that Chesapeake Utilities will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 2.05%. Chesapeake Utilities’s dividend payout ratio is currently 51.93%.

Insider Activity

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the sale, the director now directly owns 8,363 shares in the company, valued at $949,702.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.68% of the stock is owned by corporate insiders.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.