A number of other research analysts have also weighed in on MSEX. ValuEngine lowered Middlesex Water from a buy rating to a hold rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Middlesex Water from a sell rating to a hold rating in a report on Wednesday, October 2nd.
Shares of NASDAQ:MSEX traded down $1.07 during trading on Monday, reaching $62.50. The company had a trading volume of 545 shares, compared to its average volume of 46,987. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 31.89 and a beta of 0.32. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.34 and a quick ratio of 0.26. The stock’s fifty day moving average price is $64.76 and its 200 day moving average price is $61.01. Middlesex Water has a fifty-two week low of $46.78 and a fifty-two week high of $67.69.
Middlesex Water (NASDAQ:MSEX) last released its earnings results on Friday, November 1st. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.06). The company had revenue of $37.77 million during the quarter, compared to analyst estimates of $39.00 million. Middlesex Water had a net margin of 24.23% and a return on equity of 12.57%. On average, equities analysts anticipate that Middlesex Water will post 1.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.256 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, November 14th. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.24. Middlesex Water’s dividend payout ratio is currently 48.98%.
A number of hedge funds have recently made changes to their positions in the stock. CENTRAL TRUST Co purchased a new stake in Middlesex Water during the second quarter worth $30,000. Tortoise Capital Advisors L.L.C. boosted its position in Middlesex Water by 3,800.0% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 702 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 684 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Middlesex Water during the second quarter worth $56,000. Sandy Spring Bank purchased a new stake in Middlesex Water during the third quarter worth $88,000. Finally, Advisory Services Network LLC boosted its position in Middlesex Water by 9.5% during the second quarter. Advisory Services Network LLC now owns 2,078 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 181 shares in the last quarter. 55.44% of the stock is currently owned by hedge funds and other institutional investors.
About Middlesex Water
Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in 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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