Chesapeake Utilities (NYSE:CPK) Announces Quarterly Earnings Results

Chesapeake Utilities (NYSE:CPK) issued its quarterly earnings results on Thursday. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.08), FiscalAI reports. The business had revenue of $179.60 million during the quarter, compared to analyst estimates of $167.30 million. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. Chesapeake Utilities updated its FY 2025 guidance to 6.150-6.350 EPS.

Chesapeake Utilities Stock Up 1.7%

Shares of Chesapeake Utilities stock traded up $2.32 on Friday, hitting $135.46. 128,185 shares of the company’s stock traded hands, compared to its average volume of 119,766. Chesapeake Utilities has a 52-week low of $115.12 and a 52-week high of $140.59. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. The stock has a market cap of $3.19 billion, a P/E ratio of 24.15 and a beta of 0.79. The firm’s 50-day moving average is $130.64 and its 200 day moving average is $125.99.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 15th will be given a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, December 15th. Chesapeake Utilities’s dividend payout ratio is presently 48.84%.

Insider Transactions at Chesapeake Utilities

In other Chesapeake Utilities news, CFO Beth W. Cooper sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $132.15, for a total transaction of $660,750.00. Following the transaction, the chief financial officer owned 90,713 shares of the company’s stock, valued at $11,987,722.95. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Chesapeake Utilities by 94.7% in the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Utilities during the 2nd quarter valued at $140,000. Tower Research Capital LLC TRC increased its position in shares of Chesapeake Utilities by 226.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,940 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 1,345 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Chesapeake Utilities in the 2nd quarter worth $314,000. Institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. Barclays set a $141.00 price target on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Wall Street Zen cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, BTIG Research initiated coverage on Chesapeake Utilities in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Chesapeake Utilities has a consensus rating of “Hold” and a consensus target price of $135.00.

About Chesapeake Utilities

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.