Middlesex Water (NASDAQ:MSEX) Announces Earnings Results, Meets Expectations

Key Points

• Earnings met expectations: Middlesex Water reported Q EPS of $0.57, matching consensus, while revenue came in slightly below forecasts at $48.71 million versus $49.75 million expected.
• Dividend announced: The company declared a $0.36 quarterly dividend (annualized $1.44) payable June 1 with an ex-dividend/record date of May 15, implying about a 2.8% yield and a ~61% payout ratio.
• Stock and sentiment: Shares fell to $50.88 on the news; analysts hold a consensus "Moderate Buy" with an average target of $59, and a director recently bought 2,000 shares indicating insider buying.

Middlesex Water (NASDAQ:MSEX - Get Free Report) announced its quarterly earnings results on Thursday. The utilities provider reported $0.57 earnings per share for the quarter, meeting analysts' consensus estimates of $0.57, FiscalAI reports. Middlesex Water had a net margin of 21.99% and a return on equity of 9.09%. The firm had revenue of $48.71 million during the quarter, compared to analysts' expectations of $49.75 million.

Middlesex Water Stock Performance

NASDAQ MSEX traded down $1.11 during trading on Thursday, reaching $50.88. The company's stock had a trading volume of 213,343 shares, compared to its average volume of 184,479. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.45. The firm has a market cap of $945.35 million, a price-to-earnings ratio of 21.56 and a beta of 0.86. Middlesex Water has a twelve month low of $44.17 and a twelve month high of $63.26. The business's fifty day moving average price is $52.85 and its 200-day moving average price is $53.07.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $0.36 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.8%. Middlesex Water's payout ratio is currently 61.02%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Middlesex Water in a research report on Tuesday, April 21st. Loop Capital set a $55.00 price objective on shares of Middlesex Water in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Middlesex Water presently has a consensus rating of "Moderate Buy" and an average price target of $59.00.

Insider Buying and Selling

In other Middlesex Water news, Director Robert N. Hoglund acquired 2,000 shares of the company's stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at $108,620. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.92% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc acquired a new position in shares of Middlesex Water during the fourth quarter worth about $126,000. Quantessence Capital LLC acquired a new position in shares of Middlesex Water during the third quarter worth about $221,000. Creative Planning increased its stake in shares of Middlesex Water by 47.1% during the second quarter. Creative Planning now owns 4,795 shares of the utilities provider's stock worth $260,000 after acquiring an additional 1,535 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of Middlesex Water during the third quarter worth about $265,000. Finally, Cullen Capital Management LLC increased its stake in shares of Middlesex Water by 7.6% during the fourth quarter. Cullen Capital Management LLC now owns 5,053 shares of the utilities provider's stock worth $255,000 after acquiring an additional 358 shares during the period. 79.52% of the stock is currently owned by institutional investors and hedge funds.

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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