10,227 Shares in Middlesex Water Company (NASDAQ:MSEX) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Middlesex Water Company, purchasing 10,227 shares valued at approximately $656,000.
• Middlesex Water recently reported earnings per share (EPS) of $0.60 for the quarter, missing analysts' estimates of $0.68, along with a revenue of $49.32 million, below the expected $52.60 million.
• The company announced a quarterly dividend of $0.34 per share, resulting in an annualized dividend yield of 2.6%, with a payout date set for September 2nd.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,227 shares of the utilities provider's stock, valued at approximately $656,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Middlesex Water as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of Middlesex Water by 771.9% in the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 440 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Middlesex Water by 1,006.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider's stock worth $27,000 after buying an additional 473 shares in the last quarter. CX Institutional acquired a new stake in Middlesex Water in the first quarter valued at approximately $38,000. Nisa Investment Advisors LLC raised its holdings in Middlesex Water by 128.3% in the first quarter. Nisa Investment Advisors LLC now owns 662 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 372 shares in the last quarter. Finally, Crestwood Advisors Group LLC purchased a new position in Middlesex Water in the first quarter worth approximately $208,000. 79.52% of the stock is owned by institutional investors and hedge funds.

Middlesex Water Stock Performance

MSEX traded down $0.10 during trading on Wednesday, hitting $51.84. 26,155 shares of the stock were exchanged, compared to its average volume of 148,273. The firm has a market capitalization of $934.07 million, a P/E ratio of 21.42, a PEG ratio of 3.75 and a beta of 0.81. Middlesex Water Company has a 1-year low of $48.18 and a 1-year high of $70.73. The stock has a fifty day moving average price of $55.09 and a two-hundred day moving average price of $56.78. The company has a quick ratio of 0.35, a current ratio of 0.41 and a debt-to-equity ratio of 0.77.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $52.60 million. Middlesex Water had a return on equity of 9.67% and a net margin of 22.15%. As a group, sell-side analysts predict that Middlesex Water Company will post 2.34 earnings per share for the current year.

Middlesex Water Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. Middlesex Water's payout ratio is presently 56.20%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Middlesex Water from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Janney Montgomery Scott raised Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 price target for the company in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $61.00.

About Middlesex Water

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.