Middlesex Water (NASDAQ:MSEX) Announces Earnings Results

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

Middlesex Water Stock Performance

MSEX traded up $1.49 during trading on Tuesday, hitting $59.52. The stock had a trading volume of 239,738 shares, compared to its average volume of 116,659. The company has a 50 day moving average price of $51.21 and a 200-day moving average price of $59.17. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 1.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. Middlesex Water has a one year low of $45.42 and a one year high of $70.73.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.36 annualized dividend and a yield of 2.28%. Middlesex Water's dividend payout ratio (DPR) is presently 55.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MSEX shares. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday. Robert W. Baird upgraded Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price on the stock in a report on Monday. Bank of America started coverage on Middlesex Water in a report on Wednesday, December 11th. They set an "underperform" rating and a $56.00 target price on the stock. Finally, StockNews.com upgraded Middlesex Water from a "sell" rating to a "hold" rating in a report on Monday.

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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.