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

Wall Street Analyst Weigh In

Several research firms recently commented on CPK. StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday. Barclays increased their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th.

Chesapeake Utilities Price Performance

NYSE:CPK traded up $3.10 during trading hours on Friday, hitting $124.63. The company’s stock had a trading volume of 106,384 shares, 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 stock has a fifty day simple moving average of $120.86 and a 200-day simple moving average of $114.67. The company has a market capitalization of $2.80 billion, a P/E ratio of 25.28 and a beta of 0.61.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $194.70 million. During the same period last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, analysts anticipate that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

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

Insider Activity at Chesapeake Utilities

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the transaction, the director now owns 8,363 shares of the company’s stock, valued at $949,702.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.68% of the stock is currently owned by company insiders.

About Chesapeake Utilities

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.