Middlesex Water (NASDAQ:MSEX) Announces Quarterly Earnings Results

Middlesex Water (NASDAQ:MSEX) posted its earnings results on Friday. The utilities provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.13, Zacks reports. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%.

Middlesex Water Stock Down 1.8 %

Shares of Middlesex Water stock traded down $0.92 on Friday, reaching $50.13. 183,261 shares of the company were exchanged, compared to its average volume of 107,686. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $51.09 and a 200 day moving average of $59.30. Middlesex Water has a one year low of $45.42 and a one year high of $70.73. The company has a market capitalization of $895.07 million, a price-to-earnings ratio of 21.80, a PEG ratio of 1.50 and a beta of 0.85.

Middlesex Water Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Tuesday, February 18th. Middlesex Water’s dividend payout ratio is currently 59.13%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MSEX shares. Bank of America started coverage on shares of Middlesex Water in a research report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price objective for the company. Robert W. Baird increased their price target on Middlesex Water from $58.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, November 1st.

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.