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

Chesapeake Utilities (NYSE:CPK) issued an update on its FY 2024 earnings guidance on Wednesday 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 5.450. The company issued revenue guidance of -. Chesapeake Utilities also updated its FY 2025 guidance to 6.150-6.350 EPS.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of Chesapeake Utilities from a hold rating to a sell rating in a report on Thursday, February 29th. Royal Bank of Canada lifted 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. Finally, Wells Fargo & Company boosted their price target on Chesapeake Utilities from $101.00 to $105.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $107.00.

Chesapeake Utilities Stock Performance

CPK traded down $0.11 during trading on Wednesday, hitting $110.76. 64,278 shares of the stock were exchanged, compared to its average volume of 129,129. Chesapeake Utilities has a 1-year low of $83.79 and a 1-year high of $132.91. The firm has a market capitalization of $2.47 billion, a P/E ratio of 23.42 and a beta of 0.60. The stock has a fifty day moving average price of $104.55 and a two-hundred day moving average price of $101.15. The company has a quick ratio of 0.40, a current ratio of 0.48 and a debt-to-equity ratio of 0.95.

Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.11. Chesapeake Utilities had a net margin of 13.01% and a return on equity of 10.19%. The firm had revenue of $185.30 million during the quarter, compared to the consensus estimate of $234.60 million. During the same quarter in the previous year, the company posted $1.47 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Chesapeake Utilities will post 5.41 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.36 dividend on an annualized basis and a yield of 2.13%. Chesapeake Utilities’s dividend payout ratio is presently 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.