A number of other equities research analysts have also issued reports on the company. ValuEngine lowered Middlesex Water from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded Middlesex Water from a sell rating to a hold rating in a research note on Wednesday, October 2nd.
Shares of MSEX stock traded down $1.07 during trading hours on Monday, reaching $62.50. The company had a trading volume of 545 shares, compared to its average volume of 46,987. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.26 and a current ratio of 0.34. Middlesex Water has a twelve month low of $46.78 and a twelve month high of $67.69. The company has a market capitalization of $1.08 billion, a P/E ratio of 31.89 and a beta of 0.32. The stock’s fifty day simple moving average is $64.76 and its 200 day simple moving average is $61.01.
Middlesex Water (NASDAQ:MSEX) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.06). Middlesex Water had a net margin of 24.23% and a return on equity of 12.57%. The company had revenue of $37.77 million during the quarter, compared to analyst estimates of $39.00 million. As a group, equities analysts expect that Middlesex Water will post 1.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.256 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.02 dividend on an annualized basis and a yield of 1.64%. This is an increase from Middlesex Water’s previous quarterly dividend of $0.24. Middlesex Water’s dividend payout ratio is currently 48.98%.
A number of institutional investors and hedge funds have recently modified their holdings of MSEX. CENTRAL TRUST Co purchased a new position in Middlesex Water in the second quarter valued at about $30,000. Tortoise Capital Advisors L.L.C. boosted its holdings in Middlesex Water by 3,800.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 702 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 684 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Middlesex Water in the second quarter valued at about $56,000. Sandy Spring Bank purchased a new position in Middlesex Water in the third quarter valued at about $88,000. Finally, Advisory Services Network LLC boosted its holdings in Middlesex Water by 9.5% in the second quarter. Advisory Services Network LLC now owns 2,078 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 181 shares during the last quarter. 55.44% of the stock is owned by hedge funds and other institutional investors.
Middlesex Water Company Profile
Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.
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