Middlesex Water Company (NASDAQ:MSEX) Plans $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) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, May 15th.

Middlesex Water has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 52 consecutive years. Middlesex Water has a payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings.

Middlesex Water Stock Down 0.1%

Shares of NASDAQ MSEX traded down $0.06 during trading hours on Wednesday, hitting $51.88. 4,737 shares of the stock were exchanged, compared to its average volume of 140,431. Middlesex Water has a 12 month low of $44.17 and a 12 month high of $62.17. The firm has a fifty day moving average price of $52.51 and a 200-day moving average price of $52.70. The company has a quick ratio of 0.32, a current ratio of 0.39 and a debt-to-equity ratio of 0.74. The company has a market cap of $965.91 million, a PE ratio of 21.61 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 (EPS) for the quarter, hitting the consensus estimate of $0.57. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%. The business had revenue of $48.71 million for the quarter, compared to analyst estimates of $49.75 million.

Insiders Place Their Bets

In related news, Director Robert N. Hoglund purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was bought at an average cost of $54.31 per share, with a total value of $108,620.00. Following the completion of the acquisition, the director owned 2,000 shares of the company’s stock, valued at $108,620. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.92% of the company’s stock.

Institutional Trading of Middlesex Water

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Middlesex Water by 35.8% during the third quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 170 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Middlesex Water by 3.5% during the 3rd quarter. Amalgamated Bank now owns 5,257 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 179 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Middlesex Water by 1.8% in the second quarter. Raymond James Financial Inc. now owns 10,691 shares of the utilities provider’s stock valued at $579,000 after purchasing an additional 193 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Middlesex Water by 5.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,214 shares of the utilities provider’s stock worth $212,000 after buying an additional 200 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Middlesex Water by 4.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,836 shares of the utilities provider’s stock worth $252,000 after acquiring an additional 202 shares during the period. 79.52% of the stock is owned by hedge funds and other institutional investors.

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.