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) is addressing the financial challenges faced by customers due to the COVID-19 pandemic. The company encourages customers to establish payment arrangements and highlights available assistance programs. Key measures include suspending service disconnections, waiving late fees, and offering extended payment options. Chesapeake Utilities has donated $200,000 to community organizations and is actively providing support while ensuring customer safety by keeping walk-in offices closed. Assistance is available through various channels for customers needing help.
Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on November 5, 2020, at 4:00 p.m. ET to discuss its third quarter 2020 financial results. The earnings report will be released on November 4, 2020, after market close. Investors can participate by calling 877.224.1468. The company is involved in natural gas and electricity distribution, among other services. More information can be found on its website.
On September 24, 2020, Chesapeake Utilities Corporation (NYSE: CPK) announced that its subsidiary, Florida Public Utilities Company (FPUC), received approval from the Florida Public Service Commission for a settlement regarding cost recovery and rates linked to Hurricane Michael. An interim rate increase was previously approved in January 2020, with no financial impact to residential customers. Effective November 1, 2020, customer bills will decrease by approximately $2.05 per month. FPUC incurred around $67 million in restoration efforts after the hurricane, which significantly damaged its infrastructure.
Chesapeake Utilities Corporation (NYSE: CPK) has established an at-the-market equity offering program to sell up to $75 million in common stock shares. The company has partnered with several sales agents, including RBC Capital Markets and Wells Fargo Securities, for this initiative. Proceeds will be utilized for general corporate purposes such as capital expenditure financing, debt repayment, and subsidiary investments. The offering is made under the existing shelf registration statement filed with the SEC. This press release also contains forward-looking statements regarding the offering.
Chesapeake Utilities Corporation (NYSE: CPK) reported a net income of $11.0 million for Q2 2020, up from $8.3 million in Q2 2019, with EPS rising to $0.66. Year-to-date income also increased by 7.6% to $39.9 million. Factors boosting earnings included higher customer consumption due to colder weather, pipeline expansions, and growth from Marlin Gas Services. However, earnings were negatively impacted by COVID-19, reducing income by $0.9 million in Q2 and $1.1 million year-to-date. The company maintains a 2022 EPS guidance of $4.70 to $4.90.
On August 5, 2020, Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.44 per share, payable on October 5, 2020, to shareholders of record by September 15, 2020. This marks the 59th consecutive year of uninterrupted dividends, with consistent maintenance or increases in the annualized dividend over this period. Chesapeake Utilities is a diversified energy company involved in natural gas and electricity distribution, propane gas distribution, and more.
Chesapeake Utilities (NYSE: CPK) has completed its acquisition of Elkton Gas from South Jersey Industries, receiving final regulatory approval from the Maryland Public Service Commission. Elkton Gas, serving around 7,000 customers in Cecil County, Maryland, will operate as a wholly-owned subsidiary while retaining its local workforce. This acquisition allows Chesapeake Utilities to enhance its natural gas distribution in a growing region and leverage local operations. The company sees this move as a strategic fit for expanding its service capabilities.
Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on August 6, 2020, at 4:00 p.m. ET, to discuss its second quarter financial results. The earnings press release will be published on August 5, 2020, after market close. This diversified energy delivery company engages in natural gas and electricity distribution, among other services. Interested participants can call toll-free at 877.224.1468 to join the discussion.
Chesapeake Utilities Corporation (NYSE: CPK) announced a partnership with CleanBay Renewables to enhance renewable natural gas production in the Delmarva region. This collaboration aims to transport gas from CleanBay's Westover bio-refinery, capable of processing over 150,000 tons of poultry litter annually. The expected output is 765,000 MMBTUs of renewable gas, equating to energy for approximately 10,000 homes. This partnership supports environmental goals, potentially reducing greenhouse gas emissions by 550,000 tons annually and generating greenhouse gas credits.
Chesapeake Utilities Corporation (CPK) announced a partnership with Bioenergy DevCo to advance its Renewable Natural Gas (RNG) strategy. This initiative involves converting poultry waste into RNG through a $6 million gas processing plant, supported by an additional $7 million investment from its affiliates for transport infrastructure. The project aims to reduce carbon footprints, support local economies, and provide sustainable energy. Chesapeake Utilities is also negotiating other RNG opportunities, enhancing its natural gas portfolio while ensuring compliance with new gas quality standards accepted by the Federal Energy Regulatory Commission.
