Middlesex Water (NASDAQ:MSEX) Shares Gap Up – Time to Buy?

Middlesex Water Company (NASDAQ:MSEX)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $51.31, but opened at $53.67. Middlesex Water shares last traded at $54.2730, with a volume of 7,493 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Loop Capital set a $55.00 target price on shares of Middlesex Water in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Middlesex Water Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 0.45 and a quick ratio of 0.36. The firm has a market capitalization of $999.60 million, a price-to-earnings ratio of 22.76 and a beta of 0.86. The firm’s fifty day moving average is $53.02 and its 200 day moving average is $53.17.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $46.98 million for the quarter, compared to analyst estimates of $46.91 million. Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Middlesex Water’s dividend payout ratio (DPR) is presently 61.02%.

Insiders Place Their Bets

In other Middlesex Water news, Director Robert N. Hoglund acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average price of $54.31 per share, with a total value of $108,620.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at $108,620. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.86% of the company’s stock.

Hedge Funds Weigh In On Middlesex Water

A number of institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Middlesex Water by 4.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock valued at $85,684,000 after purchasing an additional 66,174 shares during the period. Vanguard Group Inc. raised its position in shares of Middlesex Water by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,398,851 shares of the utilities provider’s stock valued at $70,530,000 after purchasing an additional 25,363 shares during the period. Morgan Stanley raised its position 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 purchasing an additional 563,457 shares during the period. State Street Corp raised its position in shares of Middlesex Water by 3.9% in the fourth quarter. State Street Corp now owns 730,072 shares of the utilities provider’s stock valued at $36,810,000 after purchasing an additional 27,597 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Middlesex Water by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 464,484 shares of the utilities provider’s stock valued at $23,424,000 after purchasing an additional 5,132 shares during the period. Institutional investors own 79.52% of the company’s stock.

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.