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

Chesapeake Utilities (NYSE:CPK) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CPK. Barclays boosted their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday.

Chesapeake Utilities Trading Up 2.6 %

Shares of Chesapeake Utilities stock traded up $3.10 during trading on Friday, hitting $124.63. 106,384 shares of the company were exchanged, compared to its average volume of 80,384. The firm has a market capitalization of $2.80 billion, a P/E 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. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities has a 1-year low of $83.79 and a 1-year high of $128.13.

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). The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. Chesapeake Utilities’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS. As a group, sell-side analysts expect that Chesapeake Utilities will post 5.39 earnings per share 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 $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.93%.

Insider Activity at Chesapeake Utilities

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