Middlesex Water Company (NASDAQ:MSEX) Declares $0.36 Quarterly Dividend

Middlesex Water Company (NASDAQ:MSEX) announced a quarterly dividend on Tuesday, January 27th. Shareholders of record on Tuesday, February 17th will be paid a dividend of 0.36 per share by the utilities provider on Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, February 17th.

Middlesex Water has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 52 years. Middlesex Water has a dividend payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Middlesex Water to earn $2.42 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 59.5%.

Middlesex Water Trading Down 1.5%

Shares of MSEX stock traded down $0.78 during mid-day trading on Wednesday, reaching $51.84. The stock had a trading volume of 25,593 shares, compared to its average volume of 97,955. The firm has a market capitalization of $950.75 million, a PE ratio of 21.69, a price-to-earnings-growth ratio of 3.40 and a beta of 0.87. The stock’s 50-day moving average price is $51.76 and its two-hundred day moving average price is $53.33. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.73. Middlesex Water has a 52-week low of $44.17 and a 52-week high of $67.09.

Middlesex Water (NASDAQ:MSEX) last posted its earnings results on Friday, October 31st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.09). The business had revenue of $54.09 million during the quarter, compared to the consensus estimate of $56.08 million. Middlesex Water had a return on equity of 9.38% and a net margin of 22.08%. Equities analysts expect that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird cut their target price on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. New Street Research set a $52.00 target price on Middlesex Water in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.33.

Middlesex Water Company Profile

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.