Middlesex Water (NASDAQ:MSEX) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

by · The Markets Daily

Middlesex Water (NASDAQ:MSEX – Get Free Report) posted its quarterly earnings results on Thursday. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01), FiscalAI reports. Middlesex Water had a return on equity of 9.38% and a net margin of 22.08%.The company had revenue of $46.98 million during the quarter, compared to the consensus estimate of $46.91 million.

Middlesex Water Trading Up 0.7%

NASDAQ MSEX traded up $0.40 on Thursday, hitting $54.47. The company’s stock had a trading volume of 160,073 shares, compared to its average volume of 109,640. The firm has a market cap of $998.98 million, a P/E ratio of 22.79, a PEG ratio of 3.57 and a beta of 0.89. Middlesex Water has a 52-week low of $44.17 and a 52-week high of $67.09. The company’s 50-day simple moving average is $52.41 and its 200 day simple moving average is $53.28. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.73.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.44 annualized dividend and a dividend yield of 2.6%. Middlesex Water’s dividend payout ratio (DPR) is presently 60.25%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Middlesex Water in a research note on Thursday, January 22nd. Robert W. Baird reduced their target price on Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, New Street Research set a $52.00 price target on Middlesex Water in a research report on Friday, December 5th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.33.

Read Our Latest Stock Report on MSEX

Hedge Funds Weigh In On Middlesex Water

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. boosted its position 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 acquiring an additional 193 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Middlesex Water by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,602 shares of the utilities provider’s stock valued at $358,000 after buying an additional 208 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Middlesex Water by 3.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 9,703 shares of the utilities provider’s stock valued at $489,000 after buying an additional 315 shares in the last quarter. Cullen Capital Management LLC grew its position in shares of Middlesex Water by 7.6% in the 4th quarter. Cullen Capital Management LLC now owns 5,053 shares of the utilities provider’s stock worth $255,000 after buying an additional 358 shares during the period. Finally, Alliancebernstein L.P. increased its stake 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 in the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Company Profile

(Get Free Report)

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.

Read More