Chesapeake Utilities Corporation Completes Acquisition of Florida City Gas; With this transaction, Company's Regulated Operations Are Projected To Represent Approximately 87% Of Business Mix
Portfolio Pulse from Benzinga Newsdesk
Chesapeake Utilities Corporation has completed the acquisition of Florida City Gas, which is expected to increase the company's regulated operations to approximately 87% of its business mix.

December 01, 2023 | 11:42 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Chesapeake Utilities Corporation's acquisition of Florida City Gas is likely to enhance the stability of CPK's earnings, given the increased proportion of regulated operations.
The completion of the acquisition of Florida City Gas by Chesapeake Utilities Corporation is a significant strategic move, as it increases the company's regulated operations. This shift towards regulated business is generally viewed positively by investors because it implies more predictable and stable revenue streams. As a result, this news is likely to be seen as a positive development for CPK in the short term, potentially leading to an increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100