Chesapeake Utilities (NYSE:CPK) Updates FY24 Earnings Guidance

Chesapeake Utilities (NYSE:CPK) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.33-$5.45 for the period, compared to the consensus estimate of $5.40.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CPK shares. Barclays began coverage on Chesapeake Utilities in a research report on Thursday, May 30th. They issued an equal weight rating and a $111.00 price target on the stock. Wells Fargo & Company boosted their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the company 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 given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $109.80.

Chesapeake Utilities Stock Performance

NYSE:CPK traded down $1.30 during mid-day trading on Friday, reaching $113.90. The stock had a trading volume of 113,780 shares, compared to its average volume of 123,840. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.38 and a current ratio of 0.46. The business has a 50 day simple moving average of $111.05 and a 200 day simple moving average of $107.26. Chesapeake Utilities has a twelve month low of $83.79 and a twelve month high of $120.84. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 23.93 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. On average, analysts expect that Chesapeake Utilities will post 5.41 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.25%. Chesapeake Utilities’s dividend payout ratio is presently 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.