Middlesex Water (NASDAQ:MSEX – Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.34 per share by the utilities provider on Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Middlesex Water’s previous quarterly dividend of $0.33.
Middlesex Water has raised its dividend payment by an average of 6.6% per year over the last three years and has increased its dividend annually for the last 51 consecutive years. Middlesex Water has a dividend payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Middlesex Water to earn $2.36 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 55.1%.
Middlesex Water Stock Performance
MSEX traded down $0.09 on Friday, reaching $63.35. 52,041 shares of the stock were exchanged, compared to its average volume of 136,084. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.85. The company’s 50-day moving average price is $63.78 and its 200 day moving average price is $58.21. The firm has a market capitalization of $1.13 billion, a PE ratio of 30.75 and a beta of 0.79. Middlesex Water has a fifty-two week low of $45.42 and a fifty-two week high of $73.47.
Analyst Upgrades and Downgrades
Several analysts have recently commented on MSEX shares. Robert W. Baird downgraded shares of Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Monday, August 5th. Baird R W lowered shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th.
Get Our Latest Stock Report on Middlesex Water
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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