Chesapeake Utils Corp Stock Price, News & Analysis

Chesapeake Utilities Corporation (NYSE: CPK) has been named Best for Corporate Governance in the United States by World Finance for the third time, marking its second consecutive year receiving this recognition. The award acknowledges CPK's commitment to maintaining a values-driven culture and strategic approach focused on safety, operational excellence, and stakeholder value.

The company joins other global leaders receiving similar recognition, including Adidas in Germany, TotalEnergies in France, and ASML Holding in the Netherlands. CEO Jeff Householder emphasized that this achievement reflects the company's leadership values across all levels, while Executive VP Jim Moriarty highlighted how governance fosters organizational unity.

Chesapeake Utilities Corporation (NYSE:CPK) has announced a strategic infrastructure expansion through its Ohio subsidiary, Aspire Energy Express, LLC. The company has partnered with American Electric Power (AEP) to construct and operate an intrastate natural gas pipeline in central Ohio.

The project, representing a $10 million capital investment, will serve a new fuel-cell facility providing on-site electric power to a data center. The infrastructure is expected to be operational in the first half of 2027, supporting the growing demand for distributed data infrastructure and AEP's commitment to providing power solutions for customers.

Chesapeake Utilities Corporation (NYSE: CPK) has appointed Abhijit Bhatwadekar as Vice President and Chief Information Officer, effective June 13, 2025. Bhatwadekar will lead the company's technology strategy and operations, overseeing IT infrastructure, enterprise applications, cybersecurity, and data management. He joins from PPL Corporation where he served as VP of data analytics and customer experience. His prior roles include leadership positions at Gallagher and Nielsen, where he demonstrated expertise in global analytics platforms, AI implementation, and operational efficiency. In his new role, Bhatwadekar will serve on CPK's senior leadership team and advise the Board on technology initiatives and cybersecurity risk management.

Chesapeake Utilities Corporation (NYSE: CPK) has released its third sustainability micro-report, highlighting the company's commitment to corporate responsibility and sustainable growth. The report emphasizes three key areas: employee development, community engagement, and customer service excellence. Key achievements include maintaining a 93% employee retention rate at Florida City Gas post-acquisition, recording a 9.1% voluntary turnover rate, and donating $1.25 million to charitable causes with 12,060 volunteer hours contributed in 2023-2024. The company has set an ambitious goal to achieve top-quartile customer service performance by 2027 and has more than doubled its annual spend on diverse vendors over the past two years.

Chesapeake Utilities (NYSE: CPK) reported strong Q1 2025 financial results with net income of $50.9 million ($2.21 per share), up from $46.2 million ($2.07 per share) in Q1 2024. Excluding FCG acquisition-related expenses, adjusted net income reached $51.1 million ($2.22 per share). The company saw an 11% growth in adjusted gross margin to $182.4 million, driven by increased customer consumption, regulatory initiatives, and infrastructure programs. Key highlights include: $113 million invested in transmission and infrastructure projects, advancement of three rate cases, and continued progress on business transformation. The company reaffirmed its 2025 EPS guidance of $6.15-$6.35 and 2028 EPS guidance of $7.75-$8.00, implying an 8% annual growth rate. Capital expenditure guidance for 2025 remains at $325-375 million, with a five-year (through 2028) projection of $1.5-1.8 billion.

Chesapeake Utilities Corporation (NYSE: CPK) has announced a 7% increase in its quarterly dividend from $0.64 to $0.685 per share. The new dividend will be payable on July 7, 2025, to shareholders of record as of June 16, 2025. This increase raises the 2025 annualized dividend by $0.18, from $2.56 to $2.74 per share.

The company has maintained an impressive track record of paying dividends without interruption for 64 years and has consistently increased its annualized dividend every year since 2004. CEO Jeff Householder emphasized that this increase aligns with their strategic growth plan focused on capital deployment, regulatory strategy management, and business operations transformation.

Chesapeake Utilities (NYSE: CPK), a diversified energy delivery company, has scheduled its first quarter 2025 earnings conference call and webcast for May 8, 2025, at 8:00 a.m. ET. The company will release its financial results for Q1 ending March 31, 2024, after market close on May 7, 2025.

Investors and analysts can participate via webcast by registering online, or join the Q&A session by phone using the toll-free number 800-579-2543 (International: 785-424-1789) with Conference ID: CPKQ125. The presentation materials will be available through the Events & Presentations section of the Investors page on www.chpk.com, with a replay accessible after the call.

Chesapeake Utilities (NYSE: CPK) hosted its 2025 Investor Day at Kennedy Space Center, marking its first such event in seven years. The event, driven by increased investor interest following the Florida City Gas (FCG) acquisition in late 2023, showcased the company's growth strategy and future opportunities.

Key financial highlights include:

• 5-year capital expenditure guidance of $1.5 - $1.8 billion
• 2025 adjusted EPS guidance of $6.15 - $6.35, representing a 14-18% increase over 2024
• Significant growth expected in Florida and Delmarva service areas

The two-day event featured presentations on strategy, growth, and panel discussions covering capital deployment, regulatory initiatives, business transformation, and financial strategy. The company also highlighted growth opportunities in the Cape and Port of Canaveral region within FCG's service area.

Chesapeake Utilities (NYSE: CPK) marks a significant milestone as its subsidiary Aspire Energy of Ohio celebrates 10 years since the merger with Gatherco Inc. in April 2015. The company has enhanced its natural gas infrastructure and service delivery across Ohio over the past decade.

Aspire Energy operates an extensive network spanning 40 counties in Ohio, including over 2,300 miles of pipelines, six compressor stations, and three mechanical refrigeration units for natural gas liquids extraction. The company serves multiple local distribution companies and manages Consumers Gas Cooperative, serving over 10,000 members in Orrville, Ohio.

In 2020, the company established Aspire Energy Express (AEX), an intrastate pipeline company that connects the Rockies Express Gas Pipeline to the 1,875 MW Guernsey Power Station. With Ohio's manufacturing sector growth driving increased power generation demands, Aspire Energy is positioned to expand its service territory through infrastructure additions and investments.