Welcome to our dedicated page for Chesapeake Utils news (Ticker: CPK), a resource for investors and traders seeking the latest updates and insights on Chesapeake Utils stock.
Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy provider delivering natural gas, electricity, and propane services across regulated and unregulated markets. This page aggregates official news, press releases, and regulatory updates essential for tracking the company's strategic initiatives and market position.
Investors and stakeholders will find timely updates on earnings announcements, infrastructure expansions, and sustainability projects like renewable natural gas initiatives. Media professionals can access primary-source materials including rate case filings and operational milestones across CPK's service territories in Delaware, Florida, and Ohio.
The curated collection features updates on key business segments: regulated energy distribution under state oversight, propane and CNG operations, and emerging renewable energy solutions. Content is organized for quick scanning while maintaining compliance with financial disclosure standards.
Bookmark this page for direct access to Chesapeake Utilities' latest developments, including pipeline safety programs, customer growth metrics, and regulatory approvals. Check back regularly for comprehensive coverage of this energy provider's evolving service offerings and market strategies.
Chesapeake Utilities Corporation (NYSE: CPK) announced a $6.3 million capital project to expand its infrastructure from Sussex County, Delaware, to northern Ocean City, Maryland. The initiative aims to enhance service reliability and meet increasing natural gas demand. A new pipeline will be constructed, following the completion of necessary permits, with construction expected to begin in Q2 and finish by Q4 2022. CEO Jeff Householder highlighted that customer growth within the Delmarva natural gas distribution areas is significantly above the national average.
Chesapeake Utilities Corporation (NYSE: CPK) announced a conference call scheduled for May 4, 2022, at 4:00 p.m. ET to discuss its financial results for the first quarter ended March 31, 2022. The earnings press release will be available on May 3, 2022, after market close. Investors can participate in the call by dialing 877.224.1468. For those unable to attend, a replay will be accessible on the company’s website. Chesapeake Utilities is involved in various energy sectors, including natural gas and electricity services.
Chesapeake Utilities Corporation (NYSE: CPK) announced the opening of a high-capacity compressed natural gas (CNG) fueling station in Port Wentworth, Georgia. Operated by Marlin Compression, this facility is one of the largest public access CNG stations on the East Coast, aimed at reducing greenhouse gas emissions. The station will support fleet fueling and serve as a staging area for CNG transport trailers. A renewable natural gas (RNG) option is planned for future availability. The project reflects Chesapeake's commitment to lower carbon energy solutions.
Chesapeake Utilities Corporation (NYSE: CPK) announced that Joe Steinmetz, vice president and controller, was named the 2021 Controller of the Year, Runner-Up, in the medium size/public category by the Controllers Council. Steinmetz praised his team's efforts in achieving aggressive goals, maintaining performance during the pandemic, and implementing efficiencies across finance operations. The award recognizes excellence in financial leadership based on performance metrics, work experience, and community involvement. A virtual event is planned for April 27 to honor the winners.
OPAL Fuels LLC has announced the start of commercial operations at its new facility in Shiloh, Ohio, aimed at capturing waste methane from the Noble Road Landfill. This facility is projected to produce around 6.9 million gallons of RNG annually, significantly reducing methane emissions by approximately 20,000 tons per year and CO2 emissions by more than 48,000 tons. A 33.1-mile pipeline will transport the RNG, helping displace diesel fuel in Rumpke trucks. This initiative aligns with OPAL Fuels' growth strategy and supports environmental sustainability.
Chesapeake Utilities (NYSE: CPK) reported strong financial results for 2021, posting a net income of $83.5 million or $4.73 per share, a notable increase from $71.5 million or $4.26 per share in 2020. The fourth quarter net income rose to $22.7 million with $1.28 earnings per share, up from $21.7 million and $1.24 the previous year. Key growth drivers included expansion in natural gas distribution, acquisitions, and improved propane business profitability. The company also plans a capital expenditure of $175 million to $200 million in 2022.
Chesapeake Utilities Corporation (NYSE: CPK) has declared a quarterly cash dividend of $0.48 per share, payable on April 5, 2022, to shareholders of record by March 15, 2022. This marks 61 years of uninterrupted dividend payments, with consistent maintenance or increases in the annualized dividend. The company operates in multiple energy sectors including natural gas and electricity distribution.
Chesapeake Utilities Corporation (NYSE: CPK) successfully blended hydrogen with natural gas at its Eight Flags Energy Combined Heat and Power (CHP) plant in Nassau County, Florida. This initiative aims to support sustainability by developing lower carbon energy sources. The project evaluates operational practices for hydrogen blending, with minor modifications allowing a 4% hydrogen blend. An updated air permit and future turbine upgrades will enable higher hydrogen usage. Chesapeake sees opportunities for industrial clients to manage carbon emissions, incorporating hydrogen alongside renewable natural gas and carbon capture technologies.
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