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

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

Analysts Set New Price Targets

Several research firms recently commented on CPK. Barclays began coverage on shares of Chesapeake Utilities in a research note on Thursday, May 30th. They issued an equal weight rating and a $111.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the stock an equal weight rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $109.80.

Chesapeake Utilities Trading Down 1.1 %

NYSE CPK opened at $113.90 on Monday. The company’s 50-day simple moving average is $111.05 and its two-hundred day simple moving average is $107.28. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.38 and a current ratio of 0.46. Chesapeake Utilities has a one year low of $83.79 and a one year high of $120.84. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 23.93 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The firm had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $194.70 million. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. Equities analysts forecast that Chesapeake Utilities will post 5.41 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, September 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 53.78%.

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.