Middlesex Water (NASDAQ:MSEX) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Middlesex Water (NASDAQ:MSEX) posted its quarterly earnings results on Friday. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.13, Zacks reports. The business had revenue of $47.11 million for the quarter, compared to analysts’ expectations of $45.00 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. During the same quarter last year, the business earned $0.32 earnings per share.

Middlesex Water Stock Performance

Shares of NASDAQ MSEX traded down $0.92 during mid-day trading on Friday, reaching $50.13. 183,353 shares of the company were exchanged, compared to its average volume of 107,688. The stock has a market capitalization of $895.07 million, a P/E ratio of 21.80, a P/E/G ratio of 1.50 and a beta of 0.85. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The company’s 50-day simple moving average is $51.00 and its 200-day simple moving average is $59.23. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $70.73.

Middlesex Water Announces Dividend

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

Analyst Ratings Changes

MSEX has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Middlesex Water from $58.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Bank of America began 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.

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.