Middlesex Water (NASDAQ:MSEX – Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Friday, November 15th will be given 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 dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost 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 increased its dividend annually for the last 51 consecutive years. Middlesex Water has a payout ratio of 56.3% meaning 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
Shares of MSEX traded down $0.09 during mid-day trading on Friday, reaching $63.35. The company’s stock had a trading volume of 52,041 shares, compared to its average volume of 136,084. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $73.47. The stock has a market cap of $1.13 billion, a P/E ratio of 30.75 and a beta of 0.79. The business has a 50-day simple moving average of $63.78 and a two-hundred day simple moving average of $58.21. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82.
Analyst Ratings Changes
MSEX has been the topic of a number of recent research reports. Robert W. Baird lowered Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 target price on the stock. in a research note on Monday, August 5th. Baird R W lowered Middlesex Water from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th.
Check Out Our Latest Stock Analysis on Middlesex Water
Middlesex Water Company Profile
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.
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