Chesapeake Utilities Wins Natural Gas Expansion Bid
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Should l Buy CPK?
Source: PRnewswire
- Project Approval: Chesapeake Utilities Corporation has been awarded the natural gas expansion bid by the Accomack County Board of Supervisors, indicating the company's plan to construct a new natural gas system that will significantly enhance energy reliability on Virginia's Eastern Shore.
- Funding Support: Accomack County will contribute $6.5 million through a state grant to initiate the pipeline infrastructure project extending from outside Princess Anne, Maryland, to Temperanceville, Virginia, which is expected to provide lower-cost energy options for local residents and major employers.
- Economic Growth Catalyst: The project aims to serve major employers, including the NASA Wallops Flight Facility, with natural gas services, and Chesapeake Utilities' CEO emphasized that access to natural gas is a key driver for economic growth, intending to attract new industries and lower energy costs for the community.
- Commitment to Sustainability: A 2022 state-commissioned study identified natural gas access as a crucial factor for future economic development in the region, and this project will ensure the long-term availability of reliable and sustainable natural gas services, supporting economic development and expanding access to affordable energy.
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Analyst Views on CPK
Wall Street analysts forecast CPK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CPK is 151.17 USD with a low forecast of 141.00 USD and a high forecast of 160.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 131.990
Low
141.00
Averages
151.17
High
160.00
Current: 131.990
Low
141.00
Averages
151.17
High
160.00
About CPK
Chesapeake Utilities Corporation is a diversified energy delivery company. The Company offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses. Its Regulated Energy segment includes energy distribution and transmission services (natural gas distribution, natural gas transmission and electric distribution operations). Its Unregulated Energy segment includes energy transmission, energy generation (the operations of its Eight Flags' CHP plant), propane distribution operations, mobile compressed natural gas distribution and pipeline solutions operations, and sustainable energy investments, including renewable natural gas related investments. It also includes other unregulated energy services, such as energy-related merchandise sales and heating, ventilation and air conditioning, plumbing, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Chesapeake Utilities Wins Natural Gas Expansion Bid
- Project Approval: Chesapeake Utilities Corporation has been awarded the natural gas expansion bid by the Accomack County Board of Supervisors, indicating the company's plan to construct a new natural gas system that will significantly enhance energy reliability on Virginia's Eastern Shore.
- Funding Support: Accomack County will contribute $6.5 million through a state grant to initiate the pipeline infrastructure project extending from outside Princess Anne, Maryland, to Temperanceville, Virginia, which is expected to provide lower-cost energy options for local residents and major employers.
- Economic Growth Catalyst: The project aims to serve major employers, including the NASA Wallops Flight Facility, with natural gas services, and Chesapeake Utilities' CEO emphasized that access to natural gas is a key driver for economic growth, intending to attract new industries and lower energy costs for the community.
- Commitment to Sustainability: A 2022 state-commissioned study identified natural gas access as a crucial factor for future economic development in the region, and this project will ensure the long-term availability of reliable and sustainable natural gas services, supporting economic development and expanding access to affordable energy.
See More
Chesapeake Utilities Subsidiaries Named 2025 Utility Customer Champions
- Customer Satisfaction Recognition: Chesapeake Utilities' subsidiaries, Florida City Gas and Florida Public Utilities, have been named 2025 Utility Customer Champions, showcasing their exceptional performance in customer satisfaction and reflecting the commitment of their teams to deliver reliable service.
- Industry Distinction: These two utilities stand out among just 36 nationwide honorees, underscoring their strong customer experience and enhancing the company's reputation within the energy and utility sector.
- Trust Building: Both Florida City Gas and Florida Public Utilities scored 769 on Escalent's Engaged Customer Relationship Index, placing them in the top decile, which highlights their success in building customer trust and providing customer-centric support.
- Historical Achievements: This marks the fourth recognition for Florida City Gas and the first for Florida Public Utilities, demonstrating the company's ongoing efforts and accomplishments in the customer service domain.
See More
Chesapeake Utilities Subsidiaries Named 2025 Utility Customer Champions
- Customer Satisfaction Recognition: Chesapeake Utilities' subsidiaries, Florida City Gas and Florida Public Utilities, have been named 2025 Utility Customer Champions, reflecting their exceptional service with a score of 769, placing them in the top decile of the industry.
- Commitment to Customers: Executives emphasize that this honor showcases the strength of their teams and their commitment to delivering safe, reliable, customer-focused service, aiming to build long-term trust with the communities they serve.
- Historic Achievement: This marks the first time Florida Public Utilities has received the Customer Champion designation, while Florida City Gas has been recognized for the fourth time, previously earning accolades such as the 2024 Customer Champion and 2023 Easiest to Do Business With Brand.
- Diverse Business Operations: Chesapeake Utilities Corporation offers sustainable energy solutions across natural gas transmission and distribution, electricity generation, and propane distribution, serving over 275,500 customers across multiple Florida counties, highlighting its diversified presence in the energy sector.
See More
Tufton Capital Increases Stake in Chesapeake Utilities
- Share Increase: Tufton Capital disclosed a purchase of 23,304 shares of Chesapeake Utilities in a January 28 SEC filing, with an estimated transaction value of $3.07 million, indicating confidence in the company.
- Asset Value Growth: The value of Tufton's stake in Chesapeake Utilities increased by $2.20 million due to trading activity and market price changes, suggesting a favorable return on investment.
- Portfolio Allocation: Chesapeake Utilities now represents 2.06% of Tufton's 13F assets under management, highlighting its significance in a diversified investment strategy.
- Financial Performance: Chesapeake Utilities reported a third-quarter net income of $19.4 million, or $0.82 per share, reflecting strong performance driven by infrastructure expansion and organic growth in gas distribution.
See More
Tufton Capital Increases Stake in Chesapeake Utilities
- Share Increase: Tufton Capital Management disclosed an increase of 23,304 shares in Chesapeake Utilities in a January 28 SEC filing, with an estimated transaction value of $3.07 million, indicating confidence in the company.
- Value Appreciation: The quarter-end value of Chesapeake Utilities' stake rose by $2.20 million, reflecting both new shares and market price changes, showcasing the company's robust performance during its capital-intensive growth phase.
- Earnings Growth: Chesapeake Utilities reported a third-quarter net income of $19.4 million, or $0.82 per share, demonstrating strong growth from organic gas distribution and infrastructure investments, with management reaffirming 2025 adjusted EPS guidance of $6.15 to $6.35.
- Market Performance Analysis: Despite a 5.15% increase in Chesapeake Utilities' stock price over the past year, it lags the S&P 500 by about 11 percentage points, reflecting a slower market response to its stable cash flows and infrastructure-driven growth model.
See More
U.S. Natural Gas Prices Surge 20% to $3.70 Amid Cold Weather Forecasts
- Price Surge: U.S. natural gas futures surged nearly 20% on Monday to $3.70 per MMBtu, rebounding from a low of $3.10, marking the largest one-day gain since October 2024, reflecting strong market reactions to cold weather forecasts.
- Cold Wave Impact: An intensifying Arctic outbreak is expected to affect the central and eastern U.S., with the National Weather Service predicting lake-effect snow accumulations of 8-12 inches and temperatures 20 to 30 degrees below average, significantly boosting heating demand.
- Demand Spike: More than 200 million Americans are forecasted to experience below-freezing temperatures, with wind chills plunging to 20 to 30 degrees below zero in parts of Minnesota, which will greatly increase heating and electricity generation needs, potentially driving gas prices higher.
- Market Reaction: With Wall Street closed for Martin Luther King Jr. Day, natural gas-linked stocks such as EQT, Chesapeake, and Antero Resources may react positively when markets reopen, prompting investors to monitor these companies' stock price movements.
See More
Chesapeake Utilities Wins Natural Gas Expansion Bid
- Project Approval: Chesapeake Utilities Corporation has been awarded the natural gas expansion bid by the Accomack County Board of Supervisors, indicating the company's plan to construct a new natural gas system that will significantly enhance energy reliability on Virginia's Eastern Shore.
- Funding Support: Accomack County will contribute $6.5 million through a state grant to initiate the pipeline infrastructure project extending from outside Princess Anne, Maryland, to Temperanceville, Virginia, which is expected to provide lower-cost energy options for local residents and major employers.
- Economic Growth Catalyst: The project aims to serve major employers, including the NASA Wallops Flight Facility, with natural gas services, and Chesapeake Utilities' CEO emphasized that access to natural gas is a key driver for economic growth, intending to attract new industries and lower energy costs for the community.
- Commitment to Sustainability: A 2022 state-commissioned study identified natural gas access as a crucial factor for future economic development in the region, and this project will ensure the long-term availability of reliable and sustainable natural gas services, supporting economic development and expanding access to affordable energy.
See More
Chesapeake Utilities Subsidiaries Named 2025 Utility Customer Champions
- Customer Satisfaction Recognition: Chesapeake Utilities' subsidiaries, Florida City Gas and Florida Public Utilities, have been named 2025 Utility Customer Champions, showcasing their exceptional performance in customer satisfaction and reflecting the commitment of their teams to deliver reliable service.
- Industry Distinction: These two utilities stand out among just 36 nationwide honorees, underscoring their strong customer experience and enhancing the company's reputation within the energy and utility sector.
- Trust Building: Both Florida City Gas and Florida Public Utilities scored 769 on Escalent's Engaged Customer Relationship Index, placing them in the top decile, which highlights their success in building customer trust and providing customer-centric support.
- Historical Achievements: This marks the fourth recognition for Florida City Gas and the first for Florida Public Utilities, demonstrating the company's ongoing efforts and accomplishments in the customer service domain.
See More
Chesapeake Utilities Subsidiaries Named 2025 Utility Customer Champions
- Customer Satisfaction Recognition: Chesapeake Utilities' subsidiaries, Florida City Gas and Florida Public Utilities, have been named 2025 Utility Customer Champions, reflecting their exceptional service with a score of 769, placing them in the top decile of the industry.
- Commitment to Customers: Executives emphasize that this honor showcases the strength of their teams and their commitment to delivering safe, reliable, customer-focused service, aiming to build long-term trust with the communities they serve.
- Historic Achievement: This marks the first time Florida Public Utilities has received the Customer Champion designation, while Florida City Gas has been recognized for the fourth time, previously earning accolades such as the 2024 Customer Champion and 2023 Easiest to Do Business With Brand.
- Diverse Business Operations: Chesapeake Utilities Corporation offers sustainable energy solutions across natural gas transmission and distribution, electricity generation, and propane distribution, serving over 275,500 customers across multiple Florida counties, highlighting its diversified presence in the energy sector.
See More
Tufton Capital Increases Stake in Chesapeake Utilities
- Share Increase: Tufton Capital disclosed a purchase of 23,304 shares of Chesapeake Utilities in a January 28 SEC filing, with an estimated transaction value of $3.07 million, indicating confidence in the company.
- Asset Value Growth: The value of Tufton's stake in Chesapeake Utilities increased by $2.20 million due to trading activity and market price changes, suggesting a favorable return on investment.
- Portfolio Allocation: Chesapeake Utilities now represents 2.06% of Tufton's 13F assets under management, highlighting its significance in a diversified investment strategy.
- Financial Performance: Chesapeake Utilities reported a third-quarter net income of $19.4 million, or $0.82 per share, reflecting strong performance driven by infrastructure expansion and organic growth in gas distribution.
See More
Tufton Capital Increases Stake in Chesapeake Utilities
- Share Increase: Tufton Capital Management disclosed an increase of 23,304 shares in Chesapeake Utilities in a January 28 SEC filing, with an estimated transaction value of $3.07 million, indicating confidence in the company.
- Value Appreciation: The quarter-end value of Chesapeake Utilities' stake rose by $2.20 million, reflecting both new shares and market price changes, showcasing the company's robust performance during its capital-intensive growth phase.
- Earnings Growth: Chesapeake Utilities reported a third-quarter net income of $19.4 million, or $0.82 per share, demonstrating strong growth from organic gas distribution and infrastructure investments, with management reaffirming 2025 adjusted EPS guidance of $6.15 to $6.35.
- Market Performance Analysis: Despite a 5.15% increase in Chesapeake Utilities' stock price over the past year, it lags the S&P 500 by about 11 percentage points, reflecting a slower market response to its stable cash flows and infrastructure-driven growth model.
See More
U.S. Natural Gas Prices Surge 20% to $3.70 Amid Cold Weather Forecasts
- Price Surge: U.S. natural gas futures surged nearly 20% on Monday to $3.70 per MMBtu, rebounding from a low of $3.10, marking the largest one-day gain since October 2024, reflecting strong market reactions to cold weather forecasts.
- Cold Wave Impact: An intensifying Arctic outbreak is expected to affect the central and eastern U.S., with the National Weather Service predicting lake-effect snow accumulations of 8-12 inches and temperatures 20 to 30 degrees below average, significantly boosting heating demand.
- Demand Spike: More than 200 million Americans are forecasted to experience below-freezing temperatures, with wind chills plunging to 20 to 30 degrees below zero in parts of Minnesota, which will greatly increase heating and electricity generation needs, potentially driving gas prices higher.
- Market Reaction: With Wall Street closed for Martin Luther King Jr. Day, natural gas-linked stocks such as EQT, Chesapeake, and Antero Resources may react positively when markets reopen, prompting investors to monitor these companies' stock price movements.
See More
