TSP Capital Management Group LLC grew its stake in Middlesex Water Company (NASDAQ:MSEX – Free Report) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,332 shares of the utilities provider’s stock after purchasing an additional 22,254 shares during the quarter. Middlesex Water makes up 2.7% of TSP Capital Management Group LLC’s holdings, making the stock its 16th biggest position. TSP Capital Management Group LLC owned about 1.13% of Middlesex Water worth $10,948,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of MSEX. Inspire Investing LLC raised its position in shares of Middlesex Water by 6.6% during the 1st quarter. Inspire Investing LLC now owns 9,857 shares of the utilities provider’s stock worth $513,000 after purchasing an additional 614 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Middlesex Water by 4.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,836 shares of the utilities provider’s stock worth $252,000 after buying an additional 202 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Middlesex Water in the 1st quarter worth about $422,000. SG Americas Securities LLC increased its stake in Middlesex Water by 178.8% during the 1st quarter. SG Americas Securities LLC now owns 28,664 shares of the utilities provider’s stock worth $1,492,000 after buying an additional 18,382 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Middlesex Water by 531.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,077 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 5,114 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.
Analyst Upgrades and Downgrades
MSEX has been the topic of a number of research analyst reports. Weiss Ratings raised Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. Wall Street Zen upgraded Middlesex Water from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.
Middlesex Water Trading Up 0.7%
Shares of Middlesex Water stock opened at $56.57 on Thursday. The stock has a market cap of $1.05 billion, a P/E ratio of 23.57 and a beta of 0.77. The stock’s 50 day simple moving average is $52.64 and its 200-day simple moving average is $52.63. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $62.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.32.
Middlesex Water (NASDAQ:MSEX – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $48.71 million for the quarter, compared to the consensus estimate of $49.75 million. Middlesex Water had a return on equity of 9.08% and a net margin of 22.07%.
Middlesex Water Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. Middlesex Water’s payout ratio is presently 60.00%.
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.
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