Chesapeake Utilities (NYSE:CPK) Releases FY24 Earnings Guidance

Chesapeake Utilities (NYSE:CPK) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.33-5.45 for the period, compared to the consensus estimate of $5.40. Chesapeake Utilities also updated its FY25 guidance to $6.15-6.35 EPS.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Chesapeake Utilities from $101.00 to $105.00 and gave the company an equal weight rating in a report on Friday, February 23rd. StockNews.com downgraded shares of Chesapeake Utilities from a hold rating to a sell rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada upped their price objective on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the company an outperform rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $107.00.

Chesapeake Utilities Trading Down 0.3 %

CPK traded down $0.34 during trading on Wednesday, hitting $110.53. The company’s stock had a trading volume of 64,278 shares, compared to its average volume of 129,129. The firm has a market capitalization of $2.46 billion, a P/E ratio of 23.45 and a beta of 0.60. Chesapeake Utilities has a twelve month low of $83.79 and a twelve month high of $132.91. The company has a quick ratio of 0.40, a current ratio of 0.48 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average price is $104.55 and its 200-day moving average price is $101.15.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, February 21st. The utilities provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.11. The company had revenue of $185.30 million for the quarter, compared to the consensus estimate of $234.60 million. Chesapeake Utilities had a net margin of 13.01% and a return on equity of 10.19%. Chesapeake Utilities’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. Analysts anticipate that Chesapeake Utilities will post 5.41 EPS for the current year.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, March 14th. Chesapeake Utilities’s payout ratio is 49.89%.

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.