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

Middlesex Water Company (NASDAQ:MSEX) announced a quarterly dividend on Thursday, July 23rd. Investors 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 dividend yield of 2.6%. The ex-dividend date is Monday, August 17th.

Middlesex Water has increased its dividend 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 dividend payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings.

Middlesex Water Price Performance

NASDAQ:MSEX opened at $56.31 on Friday. Middlesex Water has a 52-week low of $44.17 and a 52-week high of $62.17. The stock has a fifty day moving average of $53.86 and a 200 day moving average of $53.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.46 and a beta of 0.78.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in shares of Middlesex Water by 328.9% in the 2nd quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 523 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Middlesex Water by 68.6% during the 1st quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 212 shares during the period. Glenmede Trust Co. NA bought a new position in Middlesex Water during the 1st quarter worth approximately $207,000. Western Wealth Management LLC bought a new position in Middlesex Water during the 1st quarter worth approximately $33,000. Finally, Bank of America Corp DE increased its stake in Middlesex Water by 11.3% in the 1st quarter. Bank of America Corp DE now owns 69,321 shares of the utilities provider’s stock worth $3,608,000 after purchasing an additional 7,031 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Company Profile

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.