Middlesex Water (NASDAQ:MSEX) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Middlesex Water (NASDAQ:MSEX) issued its earnings results on Thursday. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.17, FiscalAI reports. The firm had revenue of $56.36 million for the quarter, compared to the consensus estimate of $54.51 million. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%.

Middlesex Water Stock Performance

NASDAQ:MSEX traded up $1.79 during trading hours on Friday, reaching $57.60. The company had a trading volume of 55,763 shares, compared to its average volume of 149,809. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 24.00 and a beta of 0.78. The company has a current ratio of 0.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average price is $54.42 and its 200-day moving average price is $53.31. Middlesex Water has a 52 week low of $44.17 and a 52 week high of $62.17.

Middlesex Water Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. Middlesex Water’s payout ratio is 60.00%.

Wall Street Analyst Weigh In

MSEX has been the topic of several analyst reports. New Street Research set a $64.00 price objective on Middlesex Water in a research report on Thursday, July 9th. Weiss Ratings cut Middlesex Water from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Wall Street Zen raised Middlesex Water from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Robert W. Baird set a $66.00 price objective on Middlesex Water in a research report on Friday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.67.

Hedge Funds Weigh In On Middlesex Water

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. raised its holdings in Middlesex Water by 1.8% during the 2nd quarter. Raymond James Financial Inc. now owns 10,691 shares of the utilities provider’s stock valued at $579,000 after buying an additional 193 shares during the period. The Manufacturers Life Insurance Company increased 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 acquiring an additional 208 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Middlesex Water by 3.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 9,703 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 315 shares during the last quarter. Cullen Capital Management LLC raised its stake in shares of Middlesex Water by 7.6% in the fourth quarter. Cullen Capital Management LLC now owns 5,053 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 358 shares during the period. Finally, Alliancebernstein L.P. lifted 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 acquiring an additional 400 shares during the last quarter. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

About Middlesex Water

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.