Middlesex Water (NASDAQ:MSEX) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Middlesex Water saw unusually heavy trading, with about 496,305 shares changing hands, up 237% from the prior session, while the stock slipped to $53.75 from $54.84.
• Analyst sentiment remains constructive overall: the stock carries a Moderate Buy consensus rating and a consensus price target of $60.67, with New Street Research recently setting a $64 target.
• The company reported quarterly EPS of $0.57, matching expectations, and paid a quarterly dividend of $0.36 per share, implying a 2.7% yield.

Middlesex Water Company (NASDAQ:MSEX - Get Free Report) saw an uptick in trading volume on Thursday . Approximately 496,305 shares traded hands during mid-day trading, an increase of 237% from the previous session's volume of 147,172 shares.The stock last traded at $53.75 and had previously closed at $54.84.

Analyst Ratings Changes

MSEX has been the topic of several research reports. Weiss Ratings raised Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. New Street Research set a $64.00 price target on Middlesex Water in a research report on Thursday. Finally, Wall Street Zen raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

Middlesex Water Price Performance

The company has a market cap of $1.00 billion, a P/E ratio of 22.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. The stock has a 50-day simple moving average of $52.94 and a 200 day simple moving average of $52.74.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.57 earnings per share for the quarter, hitting analysts' consensus estimates of $0.57. The firm had revenue of $48.71 million for the quarter, compared to the consensus estimate of $49.75 million. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%.

Middlesex Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, May 15th. Middlesex Water's dividend payout ratio (DPR) is 60.00%.

Institutional Investors Weigh In On Middlesex Water

Large investors have recently bought and sold shares of the business. Morgan Stanley boosted its stake in Middlesex Water by 112.0% in the 4th quarter. Morgan Stanley now owns 1,066,578 shares of the utilities provider's stock worth $53,777,000 after purchasing an additional 563,457 shares during the period. Legal & General Group Plc increased its holdings in Middlesex Water by 32.9% during the third quarter. Legal & General Group Plc now owns 379,762 shares of the utilities provider's stock worth $20,553,000 after buying an additional 94,082 shares during the last quarter. TSP Capital Management Group LLC lifted its stake in Middlesex Water by 57.8% in the fourth quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider's stock valued at $9,483,000 after acquiring an additional 68,854 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Middlesex Water by 4.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider's stock worth $85,684,000 after purchasing an additional 66,174 shares during the last quarter. Finally, Aventail Capital Group LP acquired a new position in Middlesex Water during the fourth quarter worth approximately $2,295,000. 79.52% of the stock is currently owned by institutional investors.

Middlesex Water Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.