129,345 Shares in Middlesex Water Company $MSEX Purchased by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 129,345 Middlesex Water shares valued at approximately $7.3 million, representing about 0.69% of the company. Institutional investors and hedge funds collectively own 79.52% of MSEX.
• Analyst coverage is broadly favorable, with a consensus “Moderate Buy” rating and an average price target of $61.67, compared with the stock’s reported price of $58.49.
• Middlesex Water exceeded quarterly expectations, reporting EPS of $0.79 versus the $0.66 consensus and revenue of $56.36 million. The company also declared a quarterly dividend of $0.36, equivalent to a 2.5% annualized yield.

Jupiter Topco LLC acquired a new position in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 129,345 shares of the utilities provider's stock, valued at approximately $7,264,000. Jupiter Topco LLC owned approximately 0.69% of Middlesex Water at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MSEX. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Middlesex Water in the second quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in shares of Middlesex Water by 68.6% during the first quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider's stock worth $27,000 after purchasing an additional 212 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Middlesex Water in the 2nd quarter valued at $27,000. Western Wealth Management LLC acquired a new position in Middlesex Water in the 1st quarter valued at $33,000. Finally, Versant Capital Management Inc lifted its holdings in Middlesex Water by 328.9% in the 2nd quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 523 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MSEX shares. Wall Street Zen raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. New Street Research set a $64.00 price target on shares of Middlesex Water in a research note on Thursday, July 9th. Robert W. Baird set a $66.00 price target on shares of Middlesex Water in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Middlesex Water currently has a consensus rating of "Moderate Buy" and an average target price of $61.67.

Middlesex Water Stock Performance

Shares of Middlesex Water stock opened at $58.49 on Monday. The business's 50 day moving average price is $56.81 and its 200 day moving average price is $54.13. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 22.58 and a beta of 0.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.50. Middlesex Water Company has a one year low of $44.17 and a one year high of $62.17.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. Middlesex Water had a return on equity of 9.59% and a net margin of 23.26%.The company had revenue of $56.36 million during the quarter, compared to analysts' expectations of $54.51 million.

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.5%. Middlesex Water's dividend payout ratio is currently 55.60%.

Insider Activity

In related news, VP Lorrie Beth Ginegaw sold 615 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $57.61, for a total transaction of $35,430.15. Following the completion of the sale, the vice president directly owned 3,978 shares in the company, valued at approximately $229,172.58. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.92% of the company's stock.

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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