Middlesex Water (NASDAQ:MSEX) Issues Earnings Results, Beats Expectations By $0.13 EPS

Middlesex Water (NASDAQ:MSEX) posted its quarterly earnings results on Friday. The utilities provider reported $0.49 earnings per share (EPS) 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%.

Middlesex Water Price Performance

MSEX traded down $0.92 during midday trading on Friday, hitting $50.13. The company had a trading volume of 183,261 shares, compared to its average volume of 107,686. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. The company has a market capitalization of $895.07 million, a PE ratio of 21.80, a P/E/G ratio of 1.50 and a beta of 0.85. The firm’s 50-day simple moving average is $51.09 and its 200-day simple moving average is $59.30. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $70.73.

Middlesex Water Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, February 18th. Middlesex Water’s payout ratio is presently 59.13%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MSEX shares. Bank of America started coverage on Middlesex Water in a report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price objective for the company. Robert W. Baird lifted their price target on shares of Middlesex Water from $58.00 to $61.00 and gave the company 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.