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

Chesapeake Utilities (NYSE:CPK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 5.330-5.450 for the period, compared to the consensus EPS estimate of 5.390. The company issued revenue guidance of -. Chesapeake Utilities also updated its FY 2025 guidance to 6.150-6.350 EPS.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays initiated coverage on Chesapeake Utilities in a research report on Thursday, May 30th. They set an equal weight rating and a $111.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the stock an equal weight rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Chesapeake Utilities currently has an average rating of Hold and an average price target of $109.80.

Chesapeake Utilities Trading Down 1.1 %

NYSE CPK opened at $113.90 on Friday. Chesapeake Utilities has a twelve month low of $83.79 and a twelve month high of $120.84. The business’s fifty day moving average is $111.05 and its 200 day moving average is $107.26. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.93. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 23.93 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $194.70 million. During the same quarter last year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, sell-side analysts expect that Chesapeake Utilities will post 5.41 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

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

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.