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

Chesapeake Utilities (NYSE:CPK) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 5.330-5.450 for the period, compared to the consensus earnings per share estimate of 5.450. 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

CPK has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on Chesapeake Utilities from $123.00 to $124.00 and gave the company an outperform rating in a research report on Friday, March 1st. StockNews.com cut Chesapeake Utilities from a hold rating to a sell rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company upped their target price on shares of Chesapeake Utilities from $101.00 to $105.00 and gave the company an equal weight rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Chesapeake Utilities has an average rating of Hold and an average price target of $107.00.

Chesapeake Utilities Trading Down 0.1 %

Shares of NYSE CPK traded down $0.11 during mid-day trading on Wednesday, reaching $110.76. 64,278 shares of the company’s stock were exchanged, compared to its average volume of 129,129. The company’s 50-day moving average is $104.55 and its 200-day moving average is $101.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.40 and a current ratio of 0.48. Chesapeake Utilities has a 52-week low of $83.79 and a 52-week high of $132.91. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 23.42 and a beta of 0.60.

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

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, March 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is 49.89%.

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.