Middlesex Water (NASDAQ:MSEX – Get Free Report) declared a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.325 per share by the utilities provider on Tuesday, September 3rd. This represents a $1.30 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, August 15th.
Middlesex Water has increased its dividend by an average of 6.6% annually over the last three years and has raised its dividend annually for the last 51 consecutive years. Middlesex Water has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Middlesex Water to earn $2.40 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 54.2%.
Middlesex Water Stock Performance
Shares of NASDAQ MSEX traded up $0.60 during trading on Thursday, reaching $65.22. The stock had a trading volume of 195,887 shares, compared to its average volume of 156,144. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.89 and a current ratio of 0.95. The stock has a market cap of $1.16 billion, a PE ratio of 32.29 and a beta of 0.80. Middlesex Water has a one year low of $45.42 and a one year high of $84.35. The firm’s 50 day moving average price is $54.95 and its two-hundred day moving average price is $53.99.
Wall Street Analyst Weigh In
MSEX has been the topic of a number of recent research reports. StockNews.com upgraded Middlesex Water to a “sell” rating in a research note on Thursday, May 9th. Robert W. Baird lifted their price objective on shares of Middlesex Water from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th.
Check Out Our Latest Research Report on MSEX
Insider Transactions at Middlesex Water
In related news, Director Walter G. Reinhard sold 857 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $57.16, for a total value of $48,986.12. Following the sale, the director now directly owns 7,151 shares in the company, valued at approximately $408,751.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.86% of the company’s stock.
Middlesex Water Company Profile
Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.
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