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

by · The Markets Daily

Chesapeake Utilities (NYSE:CPK – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Chesapeake Utilities Trading Up 2.6 %

CPK traded up $3.10 on Friday, reaching $124.63. 106,384 shares of the company’s stock were exchanged, compared to its average volume of 80,384. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 25.28 and a beta of 0.61. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.32 and a current ratio of 0.38. Chesapeake Utilities has a twelve month low of $83.79 and a twelve month high of $128.13. The company’s 50 day moving average is $120.86 and its 200-day moving average is $114.67.

Chesapeake Utilities (NYSE:CPK – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $194.70 million. Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. Equities analysts predict that Chesapeake Utilities will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is 51.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays increased their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday.

Get Our Latest Report on Chesapeake Utilities

Insiders Place Their Bets

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of Chesapeake Utilities stock in a transaction on Monday, August 12th. The stock was sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the sale, the director now owns 8,363 shares of the company’s stock, valued at $949,702.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is owned by insiders.

About Chesapeake Utilities

(Get Free Report)

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.

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