Corient Private Wealth LP Buys Shares of 21,752 Middlesex Water Company $MSEX

Key Points

• Corient Private Wealth LP acquired 21,752 shares of Middlesex Water in the second quarter, valued at approximately $1.22 million. Institutional investors collectively own 79.52% of the company.
• Middlesex Water reported quarterly earnings of $0.79 per share, beating estimates of $0.66, while revenue of $56.36 million also exceeded expectations.
• The stock opened at $58.26, and analysts maintain a “Moderate Buy” consensus with an average price target of $61.67. The company also pays a quarterly dividend of $0.36, representing a 2.5% yield.

Corient Private Wealth LP bought a new stake in Middlesex Water Company (NASDAQ:MSEX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,752 shares of the utilities provider's stock, valued at approximately $1,222,000. Corient Private Wealth LP owned approximately 0.12% of Middlesex Water as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Middlesex Water during the 2nd quarter worth about $25,000. Parallel Advisors LLC boosted its holdings 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Middlesex Water during the second quarter valued at approximately $27,000. Western Wealth Management LLC acquired a new position in Middlesex Water in the 1st quarter valued at approximately $33,000. Finally, Versant Capital Management Inc lifted its position in Middlesex Water by 328.9% in the 2nd quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider's stock worth $38,000 after buying an additional 523 shares in the last quarter. Hedge funds and other institutional investors own 79.52% of the company's stock.

Insider Activity

In other news, VP Lorrie Ginegaw sold 615 shares of Middlesex Water stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $57.61, for a total value of $35,430.15. Following the transaction, the vice president directly owned 3,978 shares in the company, valued at approximately $229,172.58. The trade was a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.92% of the company's stock.

Analyst Ratings Changes

MSEX has been the topic of a number of research reports. Robert W. Baird set a $66.00 price target on shares of Middlesex Water in a research note on Friday, July 31st. Weiss Ratings raised Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. New Street Research set a $64.00 price objective on Middlesex Water in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Middlesex Water from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. One equities research analyst has 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 a consensus rating of "Moderate Buy" and an average price target of $61.67.

Middlesex Water Trading Down 0.4%

Shares of MSEX stock opened at $58.26 on Friday. Middlesex Water Company has a 12 month low of $44.17 and a 12 month high of $62.17. The company has a market cap of $1.10 billion, a PE ratio of 22.49 and a beta of 0.74. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 0.76. The business's 50 day moving average is $57.25 and its two-hundred day moving average is $54.29.

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

Middlesex Water Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. Middlesex Water's dividend payout ratio (DPR) is currently 55.60%.

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.

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