Chesapeake Utilities (NYSE:CPK) Posts Quarterly Earnings Results, Misses Estimates 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 analysts’ consensus estimates of $0.90 by ($0.08), FiscalAI reports. The business had revenue of $179.60 million during the quarter, compared to the consensus estimate of $167.30 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Chesapeake Utilities updated its FY 2025 guidance to 6.150-6.350 EPS.

Chesapeake Utilities Stock Performance

Shares of NYSE CPK traded up $2.32 during trading hours on Friday, hitting $135.46. 128,185 shares of the company’s stock were exchanged, compared to its average volume of 119,766. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 24.15 and a beta of 0.79. The company’s 50-day moving average price is $130.64 and its 200-day moving average price is $125.99. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36. Chesapeake Utilities has a 1-year low of $115.12 and a 1-year high of $140.59.

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 15th will be given 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 of this dividend is Monday, December 15th. Chesapeake Utilities’s payout ratio is currently 48.84%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CPK shares. Wall Street Zen downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday. Barclays set a $141.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a research note on Wednesday, October 8th. Finally, BTIG Research started coverage on Chesapeake Utilities in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Chesapeake Utilities presently has a consensus rating of “Hold” and an average target price of $135.00.

Insider Activity at Chesapeake Utilities

In other news, CFO Beth W. Cooper sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $132.15, for a total transaction of $660,750.00. Following the completion of the transaction, the chief financial officer directly owned 90,713 shares in the company, valued at $11,987,722.95. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chesapeake Utilities

A number of institutional investors have recently added to or reduced their stakes in CPK. Royal Bank of Canada increased its stake in Chesapeake Utilities by 8.0% during the first quarter. Royal Bank of Canada now owns 28,886 shares of the utilities provider’s stock valued at $3,710,000 after acquiring an additional 2,139 shares during the period. AQR Capital Management LLC increased its position in shares of Chesapeake Utilities by 69.6% during the first quarter. AQR Capital Management LLC now owns 6,283 shares of the utilities provider’s stock valued at $807,000 after purchasing an additional 2,579 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Chesapeake Utilities by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,452 shares of the utilities provider’s stock valued at $1,728,000 after purchasing an additional 870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Chesapeake Utilities by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,096 shares of the utilities provider’s stock valued at $10,158,000 after purchasing an additional 2,312 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Chesapeake Utilities by 1,714.7% in the first quarter. Jane Street Group LLC now owns 47,328 shares of the utilities provider’s stock worth $6,078,000 after purchasing an additional 44,720 shares during the period. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Company Profile

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.