Middlesex Water Co. (NASDAQ:MSEX) shares dropped 2.6% during trading on Wednesday . The stock traded as low as $39.13 and last traded at $39.90, with a volume of 66,612 shares trading hands. The stock had previously closed at $40.97.

The company’s 50-day moving average is $41.22 and its 200-day moving average is $34.78. The firm has a market capitalization of $636.18 million and a price-to-earnings ratio of 29.19.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter. The business earned $32.70 million during the quarter, compared to the consensus estimate of $31.60 million. On average, equities research analysts expect that Middlesex Water Co. will post $1.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be paid a $0.1988 dividend. The ex-dividend date is Wednesday, August 10th. This represents a $0.80 annualized dividend and a dividend yield of 2.02%.

A hedge fund recently raised its stake in Middlesex Water stock. KBC Group NV raised its stake in Middlesex Water Co. (NASDAQ:MSEX) by 105.2% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 42,104 shares of the company’s stock after buying an additional 21,589 shares during the period. KBC Group NV owned approximately 0.26% of Middlesex Water worth $1,117,000 as of its most recent SEC filing.

Middlesex Water Company is a water utility company. The Company has two segments: regulated and non-regulated. The regulated business includes collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey, Delaware and Pennsylvania.

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