Chesapeake Utilities (NYSE:CPK) Issues FY24 Earnings Guidance

Chesapeake Utilities (NYSE:CPK) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.33-5.45 for the period, compared to the consensus EPS estimate of $5.40. Chesapeake Utilities also updated its FY25 guidance to $6.15-6.35 EPS.

Chesapeake Utilities Trading Down 0.3 %

Shares of CPK traded down $0.34 during trading hours on Wednesday, hitting $110.53. The stock had a trading volume of 64,278 shares, compared to its average volume of 129,129. The company’s fifty day simple moving average is $104.55 and its 200 day simple moving average is $101.15. Chesapeake Utilities has a 12-month low of $83.79 and a 12-month high of $132.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.40 and a current ratio of 0.48. The firm has a market cap of $2.46 billion, a P/E ratio of 23.45 and a beta of 0.60.

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

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid 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 dividend yield of 2.14%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 49.89%.

Analyst Ratings Changes

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

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.