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

Middlesex Water (NASDAQ:MSEX) issued 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%. During the same period in the prior year, the company posted $0.32 earnings per share.

Middlesex Water Trading Down 1.8 %

MSEX stock traded down $0.92 during trading on Friday, hitting $50.13. The company had a trading volume of 183,302 shares, compared to its average volume of 107,686. Middlesex Water has a 52-week low of $45.42 and a 52-week high of $70.73. The company has a 50 day simple moving average of $51.09 and a 200-day simple moving average of $59.30. The firm has a market capitalization of $895.07 million, a P/E ratio of 21.80, a PEG 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.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued 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 payout ratio is presently 59.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MSEX shares. Bank of America started coverage on Middlesex Water in a research report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price objective on the stock. Robert W. Baird boosted 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.

About Middlesex Water

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.