Middlesex Water Company Plans Quarterly Dividend of $0.21 (MSEX)
Middlesex Water Company (NASDAQ:MSEX) declared a quarterly dividend on Friday, April 21st. Stockholders of record on Friday, May 12th will be given a dividend of 0.2113 per share by the utilities provider on Thursday, June 1st. This represents a $0.85 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, May 10th.
Middlesex Water Company (NASDAQ:MSEX) traded up 1.1161% on Friday, hitting $33.3582. The stock had a trading volume of 16,426 shares. Middlesex Water Company has a 52 week low of $32.23 and a 52 week high of $44.48. The company has a market capitalization of $543.84 million, a price-to-earnings ratio of 24.5461 and a beta of 0.41. The firm has a 50-day moving average of $36.91 and a 200 day moving average of $38.13.
Middlesex Water Company (NASDAQ:MSEX) last released its quarterly earnings data on Friday, March 3rd. The utilities provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.10. The company had revenue of $31.81 million for the quarter, compared to analysts’ expectations of $31.64 million. Middlesex Water Company had a net margin of 18.24% and a return on equity of 11.39%. On average, analysts predict that Middlesex Water Company will post $1.50 earnings per share for the current year.
In other Middlesex Water Company news, Director Walter G. Reinhard sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $36.14, for a total value of $43,368.00. Following the transaction, the director now directly owns 81 shares of the company’s stock, valued at approximately $2,927.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.45% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Middlesex Water Company by 19.6% in the first quarter. Vanguard Group Inc. now owns 923,000 shares of the utilities provider’s stock worth $34,105,000 after buying an additional 150,958 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Middlesex Water Company by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 547,651 shares of the utilities provider’s stock valued at $20,235,000 after buying an additional 18,476 shares during the period. Geode Capital Management LLC increased its position in Middlesex Water Company by 3.0% in the first quarter. Geode Capital Management LLC now owns 152,394 shares of the utilities provider’s stock valued at $5,630,000 after buying an additional 4,400 shares during the period. Schwab Charles Investment Management Inc. increased its position in Middlesex Water Company by 5.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 73,691 shares of the utilities provider’s stock valued at $2,723,000 after buying an additional 3,579 shares during the period. Finally, Teachers Advisors LLC increased its position in Middlesex Water Company by 2.6% in the first quarter. Teachers Advisors LLC now owns 26,197 shares of the utilities provider’s stock valued at $968,000 after buying an additional 673 shares during the period. 45.12% of the stock is currently owned by institutional investors.
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Separately, Janney Montgomery Scott initiated coverage on Middlesex Water Company in a report on Friday, February 17th. They issued a “neutral” rating and a $39.00 price objective on the stock.
Middlesex Water Company Company Profile
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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