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

Middlesex Water (NASDAQ:MSEX) announced its quarterly earnings data on Thursday. The utilities provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13, FiscalAI reports. The company had revenue of $56.36 million during the quarter, compared to the consensus estimate of $54.51 million. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%.

Middlesex Water Stock Down 2.5%

Shares of MSEX traded down $1.44 during trading hours on Thursday, reaching $55.81. The stock had a trading volume of 122,219 shares, compared to its average volume of 190,642. Middlesex Water has a 12 month low of $44.17 and a 12 month high of $62.17. The firm has a 50-day simple moving average of $54.42 and a 200 day simple moving average of $53.31. The company has a current ratio of 0.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 23.25 and a beta of 0.78.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. Middlesex Water’s dividend payout ratio (DPR) is currently 60.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its stake in shares of Middlesex Water by 112.0% in the fourth quarter. Morgan Stanley now owns 1,066,578 shares of the utilities provider’s stock valued at $53,777,000 after buying an additional 563,457 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Middlesex Water by 32.9% in the 3rd quarter. Legal & General Group Plc now owns 379,762 shares of the utilities provider’s stock worth $20,553,000 after acquiring an additional 94,082 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Middlesex Water by 4.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock worth $85,684,000 after acquiring an additional 66,174 shares during the last quarter. Aventail Capital Group LP bought a new position in Middlesex Water in the 4th quarter valued at about $2,295,000. Finally, Goldman Sachs Group Inc. lifted its position in Middlesex Water by 23.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider’s stock valued at $12,216,000 after acquiring an additional 36,540 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MSEX shares. New Street Research set a $64.00 target price on shares of Middlesex Water in a research note on Thursday, July 9th. Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Middlesex Water from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

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.