Chesapeake Utilities (NYSE:CPK) Updates FY 2024 Earnings Guidance

Chesapeake Utilities (NYSE:CPK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.330-5.450 for the period, compared to the consensus EPS estimate of 5.390. The company issued revenue guidance of -. Chesapeake Utilities also updated its FY 2025 guidance to 6.150-6.350 EPS.

Chesapeake Utilities Stock Down 2.4 %

Shares of CPK stock traded down $2.93 on Thursday, hitting $121.57. The stock had a trading volume of 170,293 shares, compared to its average volume of 113,817. The stock’s 50 day moving average is $120.66 and its 200-day moving average is $114.43. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 25.98 and a beta of 0.61. Chesapeake Utilities has a 52-week low of $83.79 and a 52-week high of $126.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities (NYSE:CPK) last released its 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 for the quarter, compared to analysts’ expectations of $194.70 million. Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, research analysts expect that Chesapeake Utilities will post 5.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price target on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th.

Insider Activity at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the sale, the director now directly owns 8,363 shares in the company, valued at approximately $949,702.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.66% of the company’s stock.

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.