Chesapeake Utilities Corporation (NYSE:CPK) Plans Quarterly Dividend of $0.69

Chesapeake Utilities Corporation (NYSE:CPK) announced a quarterly dividend on Wednesday, February 25th. Investors of record on Monday, March 16th will be paid a dividend of 0.685 per share by the utilities provider on Monday, April 6th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th.

Chesapeake Utilities has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 22 years. Chesapeake Utilities has a dividend payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chesapeake Utilities to earn $6.25 per share next year, which means the company should continue to be able to cover its $2.74 annual dividend with an expected future payout ratio of 43.8%.

Chesapeake Utilities Trading Down 0.3%

Shares of Chesapeake Utilities stock traded down $0.46 on Thursday, hitting $133.79. 19,677 shares of the company’s stock traded hands, compared to its average volume of 117,920. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 23.68 and a beta of 0.79. Chesapeake Utilities has a one year low of $115.24 and a one year high of $140.59. The company has a fifty day moving average of $127.77 and a two-hundred day moving average of $129.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.55.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.22). The company had revenue of $258.90 million for the quarter, compared to analyst estimates of $208.59 million. Chesapeake Utilities had a net margin of 14.77% and a return on equity of 9.03%. Chesapeake Utilities’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. As a group, sell-side analysts expect that Chesapeake Utilities will post 5.39 earnings per share for the current year.

About Chesapeake Utilities

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.