Middlesex Water (NASDAQ:MSEX) Posts Quarterly Earnings Results

Middlesex Water (NASDAQ:MSEX) posted its quarterly earnings results on Thursday. The utilities provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13, FiscalAI reports. The firm had revenue of $56.36 million during the quarter, compared to analyst estimates of $54.51 million. Middlesex Water had a return on equity of 9.08% and a net margin of 22.07%.

Middlesex Water Price Performance

Middlesex Water stock traded down $1.44 during midday trading on Thursday, hitting $55.81. 122,219 shares of the company’s stock were exchanged, compared to its average volume of 150,589. The company has a market cap of $1.04 billion, a P/E ratio of 23.25 and a beta of 0.78. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. The stock has a 50-day moving average price of $54.34 and a two-hundred day moving average price of $53.28. Middlesex Water has a 52-week low of $44.17 and a 52-week high of $62.17.

Middlesex Water Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 17th. Middlesex Water’s payout ratio is presently 60.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MSEX. Weiss Ratings cut Middlesex Water from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Wall Street Zen upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, New Street Research set a $64.00 price target on shares of Middlesex Water in a report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Middlesex Water has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Institutional Trading of Middlesex Water

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. increased its position in shares of Middlesex Water by 1.8% in the second quarter. Raymond James Financial Inc. now owns 10,691 shares of the utilities provider’s stock worth $579,000 after purchasing an additional 193 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Middlesex Water by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,602 shares of the utilities provider’s stock valued at $358,000 after purchasing an additional 208 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in Middlesex Water by 3.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 9,703 shares of the utilities provider’s stock worth $489,000 after buying an additional 315 shares in the last quarter. Cullen Capital Management LLC increased its holdings in shares of Middlesex Water by 7.6% in the 4th quarter. Cullen Capital Management LLC now owns 5,053 shares of the utilities provider’s stock worth $255,000 after buying an additional 358 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Middlesex Water by 1.8% in the 3rd quarter. Alliancebernstein L.P. now owns 23,043 shares of the utilities provider’s stock worth $1,247,000 after buying an additional 400 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

Middlesex Water Company Profile

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.