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Chesapeake Utilities
(NYSE:CPK)
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Rating:66Neutral
Price Target:
$144.00
â–²(6.05% Upside)
Action:Reiterated
Date:08/07/26
The score is primarily held back by cash-flow quality (persistent negative free cash flow amid heavy capex) and moderate leverage/data-consistency flags, despite solid profitability and growth. Technicals are supportive with a constructive trend and balanced momentum. Valuation is reasonable but not clearly discounted, while the earnings call adds a modest positive tilt via reaffirmed long-term EPS targets, expanded liquidity, and a strong project pipeline tempered by regulatory and cost headwinds.
Positive Factors
Regulated profitability
Consistent mid‑teens net margins and improving operating earnings reflect a stable, rate‑regulated earnings base. Over 2–6 months this underpins predictable cash generation from delivery rates and authorized returns, supporting reinvestment and dividend capacity independent of commodity swings.
Negative Factors
Persistent negative free cash flow
Sustained negative free cash flow from heavy capital spending increases reliance on external financing and can pressure liquidity over time. This raises the risk of incremental debt or equity issuance, which can dilute returns and increase interest burden, limiting financial agility for multi‑year projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated profitability
Consistent mid‑teens net margins and improving operating earnings reflect a stable, rate‑regulated earnings base. Over 2–6 months this underpins predictable cash generation from delivery rates and authorized returns, supporting reinvestment and dividend capacity independent of commodity swings.
Read all positive factors
Chesapeake Utilities (CPK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.23B
Dividend Yield2.09%
Average Volume (3M)140.54K
Price to Earnings (P/E)21.2
Beta (1Y)0.02
Revenue Growth14.61%
EPS Growth11.96%
CountryUS
Employees1,300
SectorUtilities
Sector Strength65
IndustryRegulated Gas
Share Statistics
EPS (TTM)5.77
Shares Outstanding24,106,455
10 Day Avg. Volume154,570
30 Day Avg. Volume140,545
Financial Highlights & Ratios
PEG Ratio1.52
Price to Book (P/B)1.83
Price to Sales (P/S)3.14
P/FCF Ratio-13.58
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$143.33Price Target Upside5.56% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)6.42
Revenue Forecast (FY)$1.02B
Chesapeake Utilities Business Overview & Revenue Model
Company Description
Chesapeake Utilities Corporation (CPK) operates as a diversified energy enterprise, delivering a range of energy solutions to its customers. The company's operations are distinctly divided into two primary segments: Regulated Energy and Unregulate...
How the Company Makes Money
Chesapeake Utilities makes money primarily through a mix of regulated utility earnings and unregulated energy and infrastructure services.
1) Regulated utility revenue (core, rate-based earnings)
- Natural gas distribution: The company earns reve...
Chesapeake Utilities Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call presents a net-positive outlook: the company reported year-over-year growth in adjusted gross margin, adjusted net income and reaffirmed long-term EPS guidance while advancing significant growth projects (notably the $1.2 billion FEP) and strengthening liquidity. Offsetting pressures include higher depreciation and operating costs from an elevated capital program, dilution and financing impacts on EPS, regulatory uncertainty in the Florida City Gas rate case, and some softening in customer growth nationally. On balance, the company’s strong margin growth, clear capital plan, liquidity enhancements, and project pipeline outweigh the near-term cost and regulatory headwinds.Positive Updates
Adjusted Net Income and EPS Growth
Adjusted net income increased ~5% year-over-year to approximately $25 million in Q2 2026; adjusted earnings per share were $1.05 in the quarter, up ~1% year-over-year and up 8% in adjusted EPS through the first six months of 2026.
Negative Updates
Earnings Offsets from Expense and Operational Increases
Several expense items reduced adjusted EPS: $0.11 from higher depreciation, amortization and property taxes; $0.05 from increased facility, vehicle and insurance expenses; $0.04 from higher credit collections and customer service costs; $0.03 from increased payroll and benefit expenses.
Read all updates
Q2-2026 Updates
Positive
Negative
Adjusted Net Income and EPS Growth
Adjusted net income increased ~5% year-over-year to approximately $25 million in Q2 2026; adjusted earnings per share were $1.05 in the quarter, up ~1% year-over-year and up 8% in adjusted EPS through the first six months of 2026.
Read all positive updates
Company Guidance
Management raised full‑year 2026 capital guidance by $100 million to $550–$600 million (Q2 capex $140M; YTD $262M) and reaffirmed 2028 adjusted EPS of $7.75–$8.00, while announcing it now expects to exceed $1.4 billion of cumulative capital through year‑end and to exceed $2.2 billion of capex from 2024–2028; the company will provide 2027–2031 capex guidance and a 2027–2031 earnings growth rate in its Feb‑2027 full‑year call. Management also said transmission/infrastructure projects should add roughly $33M of gross margin in 2026 and $51M in 2027, highlighted the Florida Energy Pathway as a ~ $1.2B project (PPC to own ≥51%) targeted in service in 2030 with ~250,000 dekatherms/day committed, and reiterated a strong balance‑sheet posture (equity capitalization 50%, ~70% of $798M debt capacity available at 6/30, revolver increased to $650M — $250M 364‑day tranche and $400M five‑year tranche), with a next dividend of $0.74 after a 7.3% increase and a board payout target of 45–50% (retaining 50–55% of earnings to fund growth).Chesapeake Utilities Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
60
Neutral
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 993.60M | 930.00M | 787.20M | 670.60M | 680.70M | 569.97M |
| Gross Profit | 495.70M | 294.10M | 334.80M | 255.30M | 237.50M | 217.93M |
| EBITDA | 361.20M | 373.40M | 311.70M | 229.60M | 228.00M | 205.72M |
| Net Income | 150.20M | 140.30M | 118.60M | 87.20M | 89.80M | 83.47M |
Balance Sheet | ||||||
| Total Assets | 4.17B | 4.04B | 3.58B | 3.30B | 2.22B | 2.11B |
| Cash, Cash Equivalents and Short-Term Investments | 400.00K | 1.80M | 7.90M | 4.90M | 6.20M | 4.98M |
| Total Debt | 1.69B | 1.64B | 1.49B | 1.40B | 814.42M | 798.07M |
| Total Liabilities | 2.50B | 2.44B | 2.19B | 2.06B | 1.38B | 1.34B |
| Stockholders Equity | 1.67B | 1.60B | 1.39B | 1.25B | 832.80M | 774.13M |
Cash Flow | ||||||
| Free Cash Flow | -281.00M | -214.90M | -115.90M | 14.86M | 30.61M | -36.42M |
| Operating Cash Flow | 308.10M | 233.70M | 239.40M | 203.48M | 158.88M | 150.50M |
| Investing Cash Flow | -487.90M | -435.70M | -349.90M | -1.11B | -136.45M | -223.02M |
| Financing Cash Flow | 178.70M | 195.90M | 113.50M | 906.61M | -21.21M | 74.00M |
Chesapeake Utilities Technical Analysis
Positive
135.78
Price Trends
130.59
Positive
127.93
Positive
128.00
Positive
Market Momentum
1.06
Positive
51.19
Neutral
25.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CPK, the sentiment is Positive. The current price of 135.78 is above the 20-day moving average (MA) of 134.46, above the 50-day MA of 130.59, and above the 200-day MA of 128.00, indicating a neutral trend. The MACD of 1.06 indicates Positive momentum. The RSI at 51.19 is Neutral, neither overbought nor oversold. The STOCH value of 25.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CPK.
Chesapeake Utilities Risk Analysis
Chesapeake Utilities disclosed 36 risk factors in its most recent earnings report. Chesapeake Utilities reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Chesapeake Utilities Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $8.25B | 12.25 | 13.15% | 4.07% | -0.50% | 60.66% | |
66 Neutral | $3.23B | 21.16 | 9.33% | 2.05% | 14.61% | 11.96% | |
66 Neutral | $5.53B | 14.79 | 14.42% | 3.16% | 7.08% | -11.82% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $5.63B | 18.45 | 7.73% | 3.66% | 2.51% | 0.05% | |
63 Neutral | $5.10B | 17.08 | 8.42% | 3.35% | -0.78% | 10.67% | |
55 Neutral | $4.95B | 9.18 | 21.42% | 3.95% | 4.12% | 93.82% |
* Utilities Sector Average
CPK
Chesapeake Utilities
133.30
12.56
10.40%
BKH
Black Hills
73.42
15.92
27.69%
SR
Spire
82.54
9.20
12.55%
NJR
New Jersey Resources
53.78
8.45
18.64%
UGI
UGI
38.23
5.03
15.16%
OGS
ONE Gas
79.61
5.86
7.94%
Chesapeake Utilities Corporate Events
Business Operations and StrategyFinancial Disclosures
Chesapeake Utilities Boosts Capex, Highlights Strong Earnings Growth
Positive
Aug 6, 2026
On August 6, 2026, Chesapeake Utilities reported second-quarter 2026 net income of $25.4 million and diluted EPS of $1.05, with year-to-date net income of $84.7 million and EPS of $3.51, reflecting 8% growth in adjusted EPS once Florida City Gas t...
Executive/Board ChangesShareholder Meetings
Chesapeake Utilities Shareholders Approve Directors and Governance Items
Positive
May 8, 2026
Chesapeake Utilities Corporation reported the results of its 2026 Annual Meeting of Stockholders, held on May 6, 2026, where 22,393,765 of 23,989,243 eligible common shares were represented, constituting a quorum. Shareholders elected one Class II...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.