Middlesex Water Company Declares Quarterly Dividend of $0.36 (NASDAQ:MSEX)

Key Points

• Middlesex Water declared a quarterly dividend of $0.36 per share, payable on September 1 to shareholders of record on August 17, with an annualized yield of about 2.6%.
• The utility has a strong dividend track record, having raised its dividend every year for 52 consecutive years, and its payout ratio of 52.2% suggests the dividend is covered by earnings.
• On the operating side, the company recently reported Q1 earnings of $0.57 per share, matching analyst estimates, while analysts currently view the stock as a Moderate Buy with a consensus target price of $60.67.

Middlesex Water Company (NASDAQ:MSEX - Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Monday, August 17th will be paid a dividend of 0.36 per share by the utilities provider on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th.

Middlesex Water has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 52 years. Middlesex Water has a payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings.

Middlesex Water Stock Performance

Shares of NASDAQ MSEX opened at $56.31 on Friday. Middlesex Water has a 12 month low of $44.17 and a 12 month high of $62.17. The company has a market capitalization of $1.05 billion, a P/E ratio of 23.46 and a beta of 0.78. The stock has a 50 day moving average of $53.86 and a 200-day moving average of $53.11. The company has a current ratio of 0.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.74.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $48.71 million for the quarter, compared to the consensus estimate of $49.75 million. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%.

Analysts Set New Price Targets

MSEX has been the subject of several recent research reports. Weiss Ratings downgraded Middlesex Water from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Wall Street Zen upgraded Middlesex Water from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, New Street Research set a $64.00 price target on shares of Middlesex Water in a report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company 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.

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