Chesapeake Utils Corp Stock Price, News & Analysis

Chesapeake Utilities Corporation (NYSE:CPK) will participate in the Janney Virtual Gas & Electric Utilities Conference on Jan. 12, 2022. Management plans to engage in one-on-one meetings with investment firms and will deliver an investor presentation at 1:00 p.m. ET. The presentation will be accessible beforehand on the Company's website under the 'Investors' section. Chesapeake Utilities is a diversified energy entity involved in natural gas transmission, electricity generation, and other utility services.

Chesapeake Utilities Corporation (NYSE: CPK) announced the promotion of six leaders, effective January 1, 2022. Key promotions include Jeff Sylvester to Chief Operating Officer, Kevin Webber to Chief Development Officer, and Michael Galtman to Chief Accounting Officer. The changes reflect the company's commitment to growth and business transformation, particularly in renewable energy and regulatory affairs. These leaders have significantly contributed to various strategic initiatives and will help guide the company forward in its growth strategy.

Chesapeake Utilities Corporation (NYSE: CPK) has announced the acquisition of propane operating assets from Diversified Energy Company, allowing its subsidiary Sharp Energy to expand into North and South Carolina. This strategic move adds approximately 19,000 new customers and potential annual propane distribution of 10 million gallons. The acquisition is expected to positively impact earnings, contributing an estimated $11.3 million in gross margin for 2022. This growth aligns with Sharp Energy's goal to strengthen its market presence along the East Coast.

Chesapeake Utilities Corporation (NYSE:CPK) will participate in the BofA Securities 2021 Gas Utility Conference on December 7, 2021. Management will engage in one-on-one meetings with investment firms and a fireside chat at 11:00 a.m. ET. Conference materials will be available in the 'Investors' section of the Company's website. Chesapeake Utilities is a diversified energy provider involved in natural gas and propane distribution, electricity generation, and mobile CNG services. They emphasize their independence from Chesapeake Energy, an unrelated oil and gas company.

Chesapeake Utilities Corporation (NYSE: CPK) reported strong financial results for Q3 2021, with a net income of $12.5 million ($0.71 per share), a significant increase from $9.3 million ($0.56 per share) in Q3 2020. Year-to-date net income reached $60.8 million ($3.45 per share), up from $49.1 million ($2.97 per share) in 2020. The growth was driven by natural gas distribution, improved propane margins, and contributions from recent acquisitions. The company expects continued growth with capital expenditure forecasts ranging from $750 million to $1 billion through 2025, alongside raised EPS guidance to $6.05-$6.25 for 2025.

The Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) has declared a quarterly cash dividend of $0.48 per share, payable on January 5, 2022. This dividend will be distributed to shareholders on record as of the close of business on December 15, 2021. Chesapeake has consistently paid dividends for 61 years, maintaining or increasing its annualized dividend during this period, demonstrating the company's commitment to providing value to its shareholders.

Chesapeake Utilities Corporation (NYSE: CPK) mourns the passing of Board member Eugene H. Bayard, who served since 2006. His contributions to the company's growth and culture were significant, according to Board Chair John R. Schimkaitis. Bayard's legacy will resonate within the firm and the state of Delaware for years to come. The company appreciates his unwavering dedication to its mission and community.

Chesapeake Utilities Corporation (NYSE: CPK) will announce its financial results for Q3 2021 on November 3, 2021, after market close. A conference call to discuss these results is scheduled for November 4, 2021, at 4:00 p.m. ET. Investors can participate by dialing 877.224.1468. The company operates in various energy sectors, including natural gas and propane distribution, electricity generation, and mobile CNG services. More information is available on their official website.