Middlesex Water Company (MSEX) to Issue Quarterly Dividend of $0.36 on June 1st

Middlesex Water Company (NASDAQ:MSEX) announced a quarterly dividend on Friday, April 24th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.36 per share by the utilities provider on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, May 15th.

Middlesex Water has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 52 years. Middlesex Water has a dividend payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings.

Middlesex Water Stock Down 0.7%

Shares of MSEX stock traded down $0.36 during trading hours on Wednesday, reaching $51.57. The company had a trading volume of 24,441 shares, compared to its average volume of 140,621. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. Middlesex Water has a twelve month low of $44.17 and a twelve month high of $62.17. The company has a market capitalization of $960.31 million, a P/E ratio of 21.48 and a beta of 0.78. The stock’s fifty day simple moving average is $52.51 and its 200 day simple moving average is $52.70.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Middlesex Water had a return on equity of 9.08% and a net margin of 22.07%.The firm had revenue of $48.71 million for the quarter, compared to analyst estimates of $49.75 million.

Analyst Ratings Changes

A number of research analysts have recently commented on MSEX shares. Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Loop Capital set a $55.00 price objective on shares of Middlesex Water in a report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.