Chesapeake Utilities (NYSE:CPK) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Chesapeake Utilities (NYSE:CPK) announced its quarterly earnings results on Wednesday. The utilities provider reported $1.94 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.22), FiscalAI reports. The business had revenue of $258.90 million during the quarter, compared to analyst estimates of $208.59 million. Chesapeake Utilities had a net margin of 14.77% and a return on equity of 9.03%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.63 EPS. Chesapeake Utilities updated its FY 2028 guidance to 7.750-8.000 EPS.

Chesapeake Utilities Trading Down 0.6%

NYSE:CPK opened at $134.29 on Thursday. The business’s 50-day moving average is $127.77 and its two-hundred day moving average is $129.43. Chesapeake Utilities has a 12 month low of $115.24 and a 12 month high of $140.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.55. The firm has a market capitalization of $3.18 billion, a PE ratio of 23.77 and a beta of 0.79.

Chesapeake Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Monday, March 16th will be given a $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.50%.

Wall Street Analyst Weigh In

CPK has been the subject of several analyst reports. Barclays reaffirmed a “reduce” rating and set a $140.00 price objective (down from $141.00) on shares of Chesapeake Utilities in a research report on Tuesday. Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.00.

Insider Activity

In related news, CEO Jeffry M. Householder sold 1,908 shares of the company’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $125.83, for a total transaction of $240,083.64. Following the completion of the transaction, the chief executive officer directly owned 51,916 shares in the company, valued at $6,532,590.28. This represents a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 17,500 shares of company stock valued at $2,218,185. Corporate insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Chesapeake Utilities

A number of institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in Chesapeake Utilities by 0.8% during the second quarter. State Street Corp now owns 1,257,589 shares of the utilities provider’s stock valued at $152,023,000 after purchasing an additional 9,556 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Chesapeake Utilities by 27.6% in the 3rd quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock valued at $128,231,000 after buying an additional 205,742 shares during the period. Invesco Ltd. lifted its holdings in Chesapeake Utilities by 3.0% in the third quarter. Invesco Ltd. now owns 590,793 shares of the utilities provider’s stock valued at $79,574,000 after buying an additional 16,993 shares during the period. Alliancebernstein L.P. grew its position in shares of Chesapeake Utilities by 831.0% during the 3rd quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock worth $68,884,000 after buying an additional 456,497 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Chesapeake Utilities by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 437,122 shares of the utilities provider’s stock worth $54,536,000 after acquiring an additional 3,867 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

About Chesapeake Utilities

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.