5,600 Shares in Middlesex Water Company $MSEX Bought by Versor Investments LP

Key Points

• Versor Investments LP has acquired a new stake in Middlesex Water Company, purchasing 5,600 shares valued at approximately $359,000 in the first quarter.
• The company reported $0.60 earnings per share (EPS) for the latest quarter, missing the consensus estimate of $0.68, with total revenue of $49.32 million.
• Middlesex Water announced a quarterly dividend of $0.34, which equates to an annualized dividend yield of 2.6% and will be distributed on September 2nd.

Versor Investments LP purchased a new position in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,600 shares of the utilities provider's stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ellevest Inc. lifted its position in shares of Middlesex Water by 3.8% during the 4th quarter. Ellevest Inc. now owns 6,395 shares of the utilities provider's stock valued at $337,000 after acquiring an additional 233 shares during the period. Bank of Montreal Can raised its position in shares of Middlesex Water by 3.5% during the 4th quarter. Bank of Montreal Can now owns 7,474 shares of the utilities provider's stock worth $393,000 after purchasing an additional 250 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Middlesex Water by 128.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 662 shares of the utilities provider's stock worth $42,000 after purchasing an additional 372 shares during the last quarter. Cable Hill Partners LLC grew its stake in Middlesex Water by 10.6% in the 1st quarter. Cable Hill Partners LLC now owns 4,293 shares of the utilities provider's stock worth $271,000 after acquiring an additional 413 shares during the period. Finally, Sterling Capital Management LLC grew its stake in Middlesex Water by 771.9% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock worth $26,000 after acquiring an additional 440 shares during the period. Hedge funds and other institutional investors own 79.52% of the company's stock.

Middlesex Water Trading Down 0.6%

Shares of MSEX stock traded down $0.30 on Tuesday, reaching $53.22. 172,987 shares of the stock were exchanged, compared to its average volume of 123,543. The stock has a market cap of $959.02 million, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 3.70 and a beta of 0.81. The company has a quick ratio of 0.35, a current ratio of 0.41 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $54.01 and a two-hundred day moving average of $57.07. Middlesex Water Company has a 1-year low of $48.18 and a 1-year high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). The firm 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%. On average, research analysts anticipate that Middlesex Water Company will post 2.34 EPS for the current year.

Middlesex Water Dividend Announcement

The company also recently disclosed 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 dividend payout ratio is presently 56.20%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MSEX shares. Janney Montgomery Scott raised shares of Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 target price for the company in a research note on Monday, May 12th. Wall Street Zen cut shares of Middlesex Water from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.