Middlesex Water (NASDAQ:MSEX) Sees Strong Trading Volume – Here’s Why

Shares of Middlesex Water Company (NASDAQ:MSEX) saw strong trading volume on Thursday . Approximately 496,305 shares were traded during mid-day trading, an increase of 237% from the previous session’s volume of 147,172 shares.The stock last traded at $53.75 and had previously closed at $54.84.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Wall Street Zen raised Middlesex Water from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, New Street Research set a $64.00 price objective on shares of Middlesex Water in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Middlesex Water Stock Performance

The company has a market capitalization of $1.00 billion, a P/E ratio of 22.49 and a beta of 0.78. The company has a fifty day moving average price of $52.94 and a two-hundred day moving average price of $52.74. 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) last announced its earnings results on Thursday, April 30th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $48.71 million during the quarter, compared to analyst estimates 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, May 15th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. Middlesex Water’s dividend payout ratio is currently 60.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MSEX. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Middlesex Water by 4.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock worth $85,684,000 after purchasing an additional 66,174 shares in the last quarter. Vanguard Group Inc. boosted its stake in Middlesex Water by 1.8% during the 4th 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 last quarter. Morgan Stanley increased its holdings in Middlesex Water by 112.0% during 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 in the last quarter. State Street Corp boosted its position in shares of Middlesex Water by 3.9% during the fourth quarter. State Street Corp now owns 730,072 shares of the utilities provider’s stock valued at $36,810,000 after buying an additional 27,597 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Middlesex Water by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 464,484 shares of the utilities provider’s stock worth $23,424,000 after buying an additional 5,132 shares in the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

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.