Chesapeake Utilities (NYSE:CPK) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

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

Chesapeake Utilities Stock Up 1.7%

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

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, December 15th. Chesapeake Utilities’s payout ratio is currently 48.84%.

Insider Transactions at Chesapeake Utilities

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

Institutional Trading of Chesapeake Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPK. Public Sector Pension Investment Board grew its position in Chesapeake Utilities by 10.1% during the second quarter. Public Sector Pension Investment Board now owns 79,575 shares of the utilities provider’s stock worth $9,567,000 after buying an additional 7,332 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Chesapeake Utilities by 2.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 34,726 shares of the utilities provider’s stock valued at $4,175,000 after acquiring an additional 867 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Chesapeake Utilities by 226.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,940 shares of the utilities provider’s stock worth $233,000 after acquiring an additional 1,345 shares during the period. Holocene Advisors LP bought a new stake in shares of Chesapeake Utilities during the second quarter valued at approximately $460,000. Finally, BNP Paribas Financial Markets increased its position in shares of Chesapeake Utilities by 166.9% during the second quarter. BNP Paribas Financial Markets now owns 4,174 shares of the utilities provider’s stock valued at $502,000 after purchasing an additional 2,610 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

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