Chesapeake Utilities Corporation (CPK) To Go Ex-Dividend on December 15th

Chesapeake Utilities Corporation (NYSE:CPK) announced a quarterly dividend on Thursday, November 6th. Investors of record on Monday, December 15th will be paid a dividend of 0.685 per share by the utilities provider on Monday, January 5th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, December 15th.

Chesapeake Utilities has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Chesapeake Utilities has a dividend payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NYSE:CPK traded down $1.00 on Friday, reaching $127.31. The company’s stock had a trading volume of 168,439 shares, compared to its average volume of 138,448. Chesapeake Utilities has a 52-week low of $115.12 and a 52-week high of $140.59. The stock has a market capitalization of $3.01 billion, a P/E ratio of 22.53 and a beta of 0.79. The stock’s 50-day moving average is $133.30 and its two-hundred day moving average is $127.01. 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 issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.08). Chesapeake Utilities had a net margin of 14.77% and a return on equity of 9.03%. The company had revenue of $179.60 million during the quarter, compared to analyst estimates of $167.30 million. During the same quarter last year, the firm earned $0.80 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. As a group, sell-side analysts forecast that Chesapeake Utilities will post 5.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CPK. Weiss Ratings cut shares of Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. BTIG Research began coverage on shares of Chesapeake Utilities in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Wall Street Zen upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, 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. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.00.

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.