Middlesex Water Company (NASDAQ:MSEX) to Issue $0.36 Quarterly Dividend

Middlesex Water Company (NASDAQ:MSEX) declared a quarterly dividend on Friday, April 24th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.36 per share by the utilities provider on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, May 15th.

Middlesex Water has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 52 years. Middlesex Water has a payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings.

Middlesex Water Stock Up 0.0%

Shares of MSEX traded up $0.02 on Wednesday, reaching $51.95. The stock had a trading volume of 21,782 shares, compared to its average volume of 140,479. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. Middlesex Water has a 12-month low of $44.17 and a 12-month high of $62.17. The firm has a market capitalization of $967.31 million, a price-to-earnings ratio of 21.65 and a beta of 0.78. The company has a 50-day simple moving average of $52.51 and a 200-day simple moving average of $52.70.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $48.71 million during the quarter, compared to the consensus estimate of $49.75 million. Middlesex Water had a return on equity of 9.08% and a net margin of 22.07%.

Insider Activity

In other news, Director Robert N. Hoglund acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $54.31 per share, with a total value of $108,620.00. Following the completion of the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at approximately $108,620. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MSEX. Penn Capital Management Company LLC increased its position in shares of Middlesex Water by 129.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 39,705 shares of the utilities provider’s stock valued at $2,149,000 after purchasing an additional 22,422 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Middlesex Water by 23.3% in the third quarter. Principal Financial Group Inc. now owns 126,343 shares of the utilities provider’s stock worth $6,838,000 after buying an additional 23,911 shares during the last quarter. TSP Capital Management Group LLC boosted its holdings in shares of Middlesex Water by 57.8% in the fourth quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider’s stock worth $9,483,000 after buying an additional 68,854 shares during the last quarter. Northstar Asset Management Inc. grew its position in Middlesex Water by 52.0% during the third quarter. Northstar Asset Management Inc. now owns 51,795 shares of the utilities provider’s stock valued at $2,803,000 after buying an additional 17,723 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Middlesex Water during the third quarter valued at approximately $737,000. Institutional investors own 79.52% of the company’s stock.

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.