Chesapeake Utilities (NYSE:CPK) Announces Earnings Results

Chesapeake Utilities (NYSE:CPK – Get Your Free Report ) posted its quarterly earnings results on Thursday. The utilities provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02), Briefing.com reports. Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $194.70 million. The company’s revenue for the quarter was up 22.6% year over year. During the same period last year, the firm posted earnings of $0.90 per share. Chesapeake Utilities updated its FY24 guidance to $5.33-$5.45 EPS.

Chesapeake Utilities stock performance

Shares of CPK stock opened at $113.90 on Friday. The firm has a market cap of $2.54 billion, a P/E ratio of 23.93 and a beta of 0.60. Chesapeake Utilities has a 52-week low of $83.79 and a 52-week high of $120.84. The stock has a 50 day moving average price of $111.05 and a two hundred day moving average price of $107.26. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.38, and a current ratio of 0.46.

Chesapeake Utilities Dividend Announcement

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

Analysts set new price targets

A number of brokerages have recently commented on CPK. Wells Fargo & Company upped their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Barclays started coverage on Chesapeake Utilities in a research note on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 price objective for the company. One 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 stock. The company presently has an average rating of “Hold” and a consensus price target of $109.80, according to MarketBeat.com.

See our latest report on CPK

Chesapeake Utilities Company Profile

(Get a free report)

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Energy segment regulates natural gas distribution operations in central and southern Delaware, the Eastern Shore of Maryland and Florida; regulated transportation of natural gas in the Delmarva Peninsula, Ohio and Florida; and regulated electric distribution in Northeast and Northwest Florida.

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