Middlesex Water (NASDAQ:MSEX – Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Friday, November 15th will be paid a dividend of 0.34 per share by the utilities provider on Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, November 15th. This is an increase from Middlesex Water’s previous quarterly dividend of $0.33.
Middlesex Water has raised its dividend by an average of 6.6% per year over the last three years and has raised its dividend every year for the last 51 years. Middlesex Water has a dividend payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Middlesex Water to earn $2.36 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 55.1%.
Middlesex Water Stock Performance
MSEX traded down $0.09 during midday trading on Friday, reaching $63.35. The company had a trading volume of 52,041 shares, compared to its average volume of 136,084. The business has a 50-day moving average of $63.78 and a two-hundred day moving average of $58.21. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. Middlesex Water has a 1 year low of $45.42 and a 1 year high of $73.47. The company has a market cap of $1.13 billion, a P/E ratio of 30.75 and a beta of 0.79.
Wall Street Analysts Forecast Growth
MSEX has been the subject of a number of analyst reports. Baird R W lowered Middlesex Water from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Robert W. Baird cut Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 target price for the company. in a research report on Monday, August 5th.
Check Out Our Latest Stock Analysis on MSEX
About Middlesex Water
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.
Featured Articles
- Five stocks we like better than Middlesex Water
- What is an Earnings Surprise?
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- Ride Out The Recession With These Dividend Kings
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- MarketBeat Week in Review – 10/21- 10/25
Receive News & Ratings for Middlesex Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlesex Water and related companies with MarketBeat.com's FREE daily email newsletter.