Middlesex Water (NASDAQ:MSEX) Releases Earnings Results, Beats Expectations By $0.13 EPS

Middlesex Water (NASDAQ:MSEX) posted its earnings results on Friday. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13, Zacks reports. The company had revenue of $47.11 million during the quarter, compared to analysts’ expectations of $45.00 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. During the same quarter last year, the company posted $0.32 EPS.

Middlesex Water Price Performance

Shares of Middlesex Water stock opened at $50.13 on Friday. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $70.73. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $51.00 and a two-hundred day simple moving average of $59.21. The stock has a market capitalization of $895.07 million, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85.

Middlesex Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, February 18th. Middlesex Water’s dividend payout ratio (DPR) is 59.13%.

Analyst Ratings Changes

Separately, Bank of America assumed coverage on shares of Middlesex Water in a research note on Wednesday, December 11th. They set an “underperform” rating and a $56.00 target price for the company.

Middlesex Water Company Profile

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.