Middlesex Water (NASDAQ:MSEX – Get Free Report) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Shareholders 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 annualized dividend and a yield of 2.05%. 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 raised its dividend annually for the last 52 consecutive years. Middlesex Water has a payout ratio of 57.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Middlesex Water to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 56.9%.
Middlesex Water Trading Down 0.9 %
Shares of NASDAQ:MSEX opened at $66.38 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 28.86 and a beta of 0.79. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $73.47. The company has a 50 day moving average price of $64.82 and a 200 day moving average price of $59.93.
Analyst Ratings Changes
A number of analysts have commented on the stock. Baird R W lowered shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th. Robert W. Baird boosted their price objective on shares of Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, November 1st.
View Our Latest Report 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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