Chesapeake Utilities (NYSE:CPK) Issues 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.

Chesapeake Utilities Stock Up 2.6 %

Shares of CPK traded up $3.10 during mid-day trading on Friday, reaching $124.63. The company’s stock had a trading volume of 106,384 shares, compared to its average volume of 80,384. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. Chesapeake Utilities has a 1 year low of $83.79 and a 1 year high of $128.13. The business has a fifty day moving average of $120.86 and a 200 day moving average of $114.67. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 25.28 and a beta of 0.61.

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

Chesapeake Utilities Dividend Announcement

The company 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 is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is 51.93%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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. StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of Chesapeake Utilities stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the sale, the director now directly owns 8,363 shares in the company, valued at $949,702.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.68% of the stock is owned by company 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.