Middlesex Water (NASDAQ:MSEX) Issues Earnings Results

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

Middlesex Water Trading Down 2.5%

MSEX stock traded down $1.44 during midday trading on Thursday, hitting $55.81. The company had a trading volume of 122,219 shares, compared to its average volume of 150,589. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 23.25 and a beta of 0.78. Middlesex Water has a 52 week low of $44.17 and a 52 week high of $62.17. 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 stock’s 50 day moving average price is $54.34 and its 200 day moving average price is $53.28.

Middlesex Water Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, August 17th. This represents a $1.44 annualized dividend and a yield of 2.6%. Middlesex Water’s payout ratio is presently 60.00%.

Institutional Investors Weigh In On Middlesex Water

Large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Middlesex Water by 4.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock worth $85,684,000 after purchasing an additional 66,174 shares during the last quarter. Morgan Stanley raised its position in Middlesex Water by 112.0% during the 4th quarter. Morgan Stanley now owns 1,066,578 shares of the utilities provider’s stock valued at $53,777,000 after purchasing an additional 563,457 shares during the last quarter. State Street Corp lifted its holdings in Middlesex Water by 3.9% in the 4th quarter. State Street Corp now owns 730,072 shares of the utilities provider’s stock worth $36,810,000 after buying an additional 27,597 shares during the period. Geode Capital Management LLC grew its position in shares of Middlesex Water by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 464,484 shares of the utilities provider’s stock worth $23,424,000 after buying an additional 5,132 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Middlesex Water by 32.9% during the third quarter. Legal & General Group Plc now owns 379,762 shares of the utilities provider’s stock valued at $20,553,000 after buying an additional 94,082 shares during the period. Institutional investors own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.