TSP Capital Management Group LLC Purchases 68,854 Shares of Middlesex Water Company $MSEX

Key Points

• TSP Capital Management raised its stake in Middlesex Water by 57.8%, buying 68,854 shares to hold 188,078 shares (about 1.03% of the company) worth $9.48 million, making MSEX the fund's 18th largest holding and ~2.3% of its portfolio.
• Institutional ownership is high at 79.52%, with several funds (Penn Capital, Principal, Exchange Traded Concepts, Northstar) increasing positions, and director Robert N. Hoglund buying 2,000 shares at $54.31; corporate insiders own 1.86%.
• Middlesex Water has a market cap of ~$984M and a P/E of 22.5; it reported Q4 EPS of $0.46 (missed by $0.03) and pays a $0.36 quarterly dividend ($1.44 annually, ~2.7% yield) with a ~61% payout ratio.

TSP Capital Management Group LLC increased its stake in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 188,078 shares of the utilities provider's stock after acquiring an additional 68,854 shares during the quarter. Middlesex Water comprises about 2.3% of TSP Capital Management Group LLC's portfolio, making the stock its 18th largest holding. TSP Capital Management Group LLC owned approximately 1.03% of Middlesex Water worth $9,483,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Penn Capital Management Company LLC boosted its position in shares of Middlesex Water by 129.7% during the third quarter. Penn Capital Management Company LLC now owns 39,705 shares of the utilities provider's stock worth $2,149,000 after acquiring an additional 22,422 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Middlesex Water by 23.3% during the third quarter. Principal Financial Group Inc. now owns 126,343 shares of the utilities provider's stock worth $6,838,000 after acquiring an additional 23,911 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Middlesex Water by 204.6% during the third quarter. Exchange Traded Concepts LLC now owns 40,250 shares of the utilities provider's stock worth $2,178,000 after acquiring an additional 27,038 shares during the last quarter. Northstar Asset Management Inc. boosted its position in shares of Middlesex Water by 52.0% during the third quarter. Northstar Asset Management Inc. now owns 51,795 shares of the utilities provider's stock worth $2,803,000 after acquiring an additional 17,723 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Middlesex Water during the third quarter worth $737,000. Institutional investors own 79.52% of the company's stock.

Insider Buying and Selling at Middlesex Water

In other news, Director Robert N. Hoglund bought 2,000 shares of Middlesex Water stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $54.31 per share, with a total value of $108,620.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at $108,620. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.86% of the company's stock.

Analyst Ratings Changes

MSEX has been the subject of a number of research reports. Loop Capital set a $55.00 target price on shares of Middlesex Water in a research report on Wednesday, February 25th. Weiss Ratings restated a "hold (c-)" rating on shares of Middlesex Water in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.00.

Middlesex Water Price Performance

Middlesex Water stock opened at $53.15 on Wednesday. The company has a market cap of $984.44 million, a price-to-earnings ratio of 22.52, a PEG ratio of 2.51 and a beta of 0.86. The firm's fifty day moving average is $52.84 and its 200 day moving average is $53.21. The company has a quick ratio of 0.36, a current ratio of 0.45 and a debt-to-equity ratio of 0.77. Middlesex Water Company has a 52-week low of $44.17 and a 52-week high of $63.97.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.03). Middlesex Water had a net margin of 21.99% and a return on equity of 9.09%. The business had revenue of $46.98 million for the quarter, compared to analysts' expectations of $46.91 million. Sell-side analysts forecast that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. Middlesex Water's dividend payout ratio 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.

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