Middlesex Water (NASDAQ:MSEX) Director Buys $108,620.00 in Stock

Middlesex Water Company (NASDAQ:MSEX) Director Robert Hoglund purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $54.31 per share, for a total transaction of $108,620.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at $108,620. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Middlesex Water Trading Up 0.6%

NASDAQ MSEX traded up $0.31 on Friday, hitting $54.00. 105,122 shares of the stock were exchanged, compared to its average volume of 111,683. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.45. Middlesex Water Company has a 52-week low of $44.17 and a 52-week high of $67.09. The firm has a market capitalization of $1.00 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.55 and a beta of 0.89. The stock has a fifty day moving average price of $52.57 and a two-hundred day moving average price of $53.35.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The firm had revenue of $46.98 million for the quarter, compared to analysts’ expectations of $46.91 million. Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%. Research analysts forecast that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 17th. Middlesex Water’s payout ratio is 61.02%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its position in shares of Middlesex Water by 112.0% in the 4th quarter. Morgan Stanley now owns 1,066,578 shares of the utilities provider’s stock worth $53,777,000 after purchasing an additional 563,457 shares during the period. Legal & General Group Plc raised its stake in Middlesex Water by 32.9% in the third quarter. Legal & General Group Plc now owns 379,762 shares of the utilities provider’s stock worth $20,553,000 after buying an additional 94,082 shares in the last quarter. TSP Capital Management Group LLC lifted its holdings in Middlesex Water by 57.8% during the fourth quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider’s stock worth $9,483,000 after buying an additional 68,854 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Middlesex Water by 4.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock worth $85,684,000 after buying an additional 66,174 shares during the period. Finally, Aventail Capital Group LP bought a new stake in Middlesex Water during the 4th quarter valued at $2,295,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Analysts Set New Price Targets

MSEX has been the topic of several research analyst reports. Loop Capital set a $55.00 price objective on Middlesex Water in a research report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Robert W. Baird decreased their price objective on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, New Street Research set a $52.00 price objective on shares of Middlesex Water in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Middlesex Water presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

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.