Penn Capital Management Company LLC Grows Stake in Middlesex Water Company $MSEX

Penn Capital Management Company LLC increased its holdings in Middlesex Water Company (NASDAQ:MSEX) by 129.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,705 shares of the utilities provider’s stock after purchasing an additional 22,422 shares during the period. Penn Capital Management Company LLC owned 0.22% of Middlesex Water worth $2,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MSEX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Middlesex Water by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider’s stock valued at $892,000 after buying an additional 1,058 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Middlesex Water by 23.7% during the first quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider’s stock worth $12,216,000 after acquiring an additional 36,540 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Middlesex Water by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,222 shares of the utilities provider’s stock valued at $3,796,000 after acquiring an additional 2,349 shares in the last quarter. Bank of Montreal Can increased its holdings in Middlesex Water by 32.4% in the 2nd quarter. Bank of Montreal Can now owns 4,298 shares of the utilities provider’s stock valued at $233,000 after acquiring an additional 1,052 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Middlesex Water by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 193,550 shares of the utilities provider’s stock worth $10,487,000 after purchasing an additional 3,751 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Loop Capital set a $55.00 price objective on Middlesex Water in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Finally, New Street Research set a $52.00 price objective on Middlesex Water in a research note on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.00.

Insider Transactions at Middlesex Water

In other Middlesex Water news, Director Robert N. Hoglund acquired 2,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were bought at an average price of $54.31 per share, with a total value of $108,620.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $108,620. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.86% of the stock is currently owned by insiders.

Middlesex Water Stock Performance

Middlesex Water stock opened at $51.31 on Wednesday. The company’s 50-day moving average price is $53.12 and its 200-day moving average price is $53.33. The company has a quick ratio of 0.36, a current ratio of 0.45 and a debt-to-equity ratio of 0.77. The company has a market cap of $950.26 million, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.43 and a beta of 0.90. Middlesex Water Company has a twelve month low of $44.17 and a twelve month high of $67.09.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.46 earnings per share 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 the consensus estimate of $46.91 million. Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%. On average, equities 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 declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Middlesex Water’s dividend payout ratio (DPR) is currently 61.02%.

Middlesex Water 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.