IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $737,000 in Middlesex Water Company $MSEX

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Middlesex Water Company (NASDAQ:MSEX) in the 3rd quarter, Holdings Channel.com reports. The fund bought 13,627 shares of the utilities provider’s stock, valued at approximately $737,000.

A number of other hedge funds have also recently added to or reduced their stakes in MSEX. Envestnet Asset Management Inc. purchased a new stake in Middlesex Water in the 3rd quarter valued at about $265,000. Hantz Financial Services Inc. grew its holdings in Middlesex Water by 137.8% in the third quarter. Hantz Financial Services Inc. now owns 635 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 368 shares during the period. Principal Financial Group Inc. increased its position in Middlesex Water by 23.3% during the third quarter. Principal Financial Group Inc. now owns 126,343 shares of the utilities provider’s stock worth $6,838,000 after purchasing an additional 23,911 shares during the last quarter. Northstar Asset Management Inc. raised its stake in Middlesex Water by 52.0% during the third quarter. Northstar Asset Management Inc. now owns 51,795 shares of the utilities provider’s stock worth $2,803,000 after purchasing an additional 17,723 shares during the period. Finally, Amalgamated Bank raised its stake in Middlesex Water by 3.5% during the third 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 period. 79.52% of the stock is owned by institutional investors and hedge funds.

Middlesex Water Trading Down 2.3%

NASDAQ MSEX opened at $51.24 on Friday. The stock has a market cap of $939.74 million, a P/E ratio of 21.44, a PEG ratio of 3.32 and a beta of 0.89. The company’s fifty day simple moving average is $52.04 and its 200-day simple moving average is $53.21. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.73. Middlesex Water Company has a 52 week low of $44.17 and a 52 week high of $67.09.

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, February 17th. Middlesex Water’s dividend payout ratio is presently 60.25%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MSEX. Weiss Ratings reissued a “hold (c-)” rating on shares of Middlesex Water in a research note on Thursday, January 22nd. Robert W. Baird lowered their price target on Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, New Street Research set a $52.00 price objective on Middlesex Water in a report on Friday, December 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.33.

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.