Chesapeake Utilities (NYSE:CPK) Releases Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Chesapeake Utilities (NYSE:CPK) released its quarterly earnings data on Wednesday. The utilities provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.22), FiscalAI reports. The company had revenue of $258.90 million during the quarter, compared to the consensus estimate of $208.59 million. Chesapeake Utilities had a net margin of 15.09% and a return on equity of 9.48%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 earnings per share. Chesapeake Utilities updated its FY 2028 guidance to 7.750-8.000 EPS.

Chesapeake Utilities Price Performance

NYSE:CPK traded up $0.64 during mid-day trading on Friday, reaching $135.26. 9,541 shares of the company were exchanged, compared to its average volume of 117,337. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market cap of $3.20 billion, a PE ratio of 22.62 and a beta of 0.79. Chesapeake Utilities has a 12 month low of $115.24 and a 12 month high of $140.59. The company has a fifty day moving average of $127.89 and a 200 day moving average of $129.46.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.685 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.74 dividend on an annualized basis and a yield of 2.0%. Chesapeake Utilities’s dividend payout ratio is currently 48.50%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CPK shares. Wall Street Zen cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Barclays reaffirmed a “reduce” rating and issued a $140.00 target price (down from $141.00) on shares of Chesapeake Utilities in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $140.00.

Insider Activity

In other news, CEO Jeffry M. Householder sold 7,500 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $126.74, for a total transaction of $950,550.00. Following the sale, the chief executive officer directly owned 56,916 shares of the company’s stock, valued at $7,213,533.84. This represents a 11.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 17,500 shares of company stock worth $2,218,185 in the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new stake in Chesapeake Utilities in the fourth quarter worth about $175,000. Franklin Resources Inc. boosted its stake in shares of Chesapeake Utilities by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 1,646 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 95 shares during the last quarter. Hancock Whitney Corp bought a new position in shares of Chesapeake Utilities in the 3rd quarter valued at about $207,000. Mackenzie Financial Corp acquired a new stake in shares of Chesapeake Utilities during the 3rd quarter worth approximately $201,000. Finally, Orion Porfolio Solutions LLC bought a new stake in shares of Chesapeake Utilities during the third quarter worth approximately $201,000. Institutional investors and hedge funds own 83.11% of the company’s stock.

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.