Exchange Traded Concepts LLC bought a new stake in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,960 shares of the utilities provider's stock, valued at approximately $831,000. Exchange Traded Concepts LLC owned approximately 0.07% of Middlesex Water as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Middlesex Water by 6,702.0% in the first quarter. GAMMA Investing LLC now owns 139,033 shares of the utilities provider's stock valued at $8,912,000 after acquiring an additional 136,989 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Middlesex Water by 9.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,471,404 shares of the utilities provider's stock valued at $77,440,000 after acquiring an additional 126,732 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Middlesex Water by 751.4% in the fourth quarter. Jane Street Group LLC now owns 91,530 shares of the utilities provider's stock worth $4,817,000 after purchasing an additional 80,779 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Middlesex Water by 187.2% in the fourth quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider's stock worth $4,871,000 after purchasing an additional 60,337 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Middlesex Water in the fourth quarter worth about $2,619,000. 79.52% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on MSEX shares. Janney Montgomery Scott raised Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 target price on the stock in a report on Monday, May 12th. Wall Street Zen cut Middlesex Water from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price on the stock in a report on Monday, March 3rd. Finally, Baird R W raised Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Middlesex Water presently has a consensus rating of "Hold" and a consensus price target of $61.00.
View Our Latest Analysis on Middlesex Water
Middlesex Water Trading Up 2.5%
NASDAQ MSEX traded up $1.39 during trading hours on Monday, hitting $57.49. 83,883 shares of the company were exchanged, compared to its average volume of 132,043. The stock has a 50-day moving average price of $58.88 and a 200 day moving average price of $56.75. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.78. Middlesex Water Company has a 52 week low of $48.18 and a 52 week high of $70.73. The stock has a market cap of $1.03 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 3.64 and a beta of 0.81.
Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Middlesex Water had a return on equity of 9.76% and a net margin of 22.05%. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $43.79 million. Analysts forecast that Middlesex Water Company will post 2.34 earnings per share for the current fiscal year.
Middlesex Water Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.37%. Middlesex Water's payout ratio is currently 56.43%.
About Middlesex Water
(
Free Report)
Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.
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