Universal Beteiligungs und Servicegesellschaft mbH Invests $656,000 in Middlesex Water Company (NASDAQ:MSEX)

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 Middlesex Water Company (NASDAQ:MSEX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Crestwood Advisors Group LLC bought a new stake in Middlesex Water during the first quarter valued at $208,000. Cable Hill Partners LLC boosted its stake in Middlesex Water by 10.6% during the first quarter. Cable Hill Partners LLC now owns 4,293 shares of the utilities provider's stock valued at $271,000 after buying an additional 413 shares during the period. Victory Capital Management Inc. bought a new stake in Middlesex Water during the first quarter valued at $238,000. Nisa Investment Advisors LLC boosted its stake in Middlesex Water by 128.3% during the first quarter. Nisa Investment Advisors LLC now owns 662 shares of the utilities provider's stock valued at $42,000 after buying an additional 372 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Middlesex Water by 2.6% during the first quarter. Principal Financial Group Inc. now owns 88,933 shares of the utilities provider's stock valued at $5,701,000 after buying an additional 2,293 shares during the period. 79.52% of the stock is owned by institutional investors.

Middlesex Water Trading Up 1.5%

Shares of MSEX stock traded up $0.79 during mid-day trading on Monday, reaching $53.18. The stock had a trading volume of 157,466 shares, compared to its average volume of 149,211. The company has a current ratio of 0.41, a quick ratio of 0.35 and a debt-to-equity ratio of 0.77. The stock's 50-day moving average price is $55.29 and its two-hundred day moving average price is $56.80. The firm has a market capitalization of $958.30 million, a PE ratio of 21.98, a price-to-earnings-growth ratio of 3.61 and a beta of 0.81. Middlesex Water Company has a 52-week low of $48.18 and a 52-week high of $70.73.

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

Middlesex Water Announces Dividend

The firm 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 dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, August 15th. Middlesex Water's payout ratio is 56.20%.

Analysts Set New Price Targets

MSEX has been the subject of several research analyst reports. Wall Street Zen lowered Middlesex Water from a "hold" rating to a "sell" rating in a research note 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 research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $61.00.

Middlesex Water Profile

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.