Middlesex Water (NASDAQ:MSEX) Shares Gap Up - Here's What Happened

Key Points

• Middlesex Water gapped up before the open, rising from a $51.31 close to a $53.67 open and last trading around $54.27 on roughly 7,500 shares.
• Analysts hold a consensus Moderate Buy rating with a $59.00 target (two Buys, one Hold); Loop Capital set a $55 target while Weiss reiterated a hold.
• The company reported quarterly EPS of $0.46 (missing the $0.49 estimate) on revenue roughly in line with forecasts, has a market cap near $1.0B, pays a $0.36 quarterly dividend (annualized $1.44, ~2.7% yield), and a director recently bought 2,000 shares at about $54.31.

Middlesex Water Company (NASDAQ:MSEX - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $51.31, but opened at $53.67. Middlesex Water shares last traded at $54.2730, with a volume of 7,493 shares trading hands.

Analysts Set New Price Targets

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

Middlesex Water Stock Up 0.1%

The company has a market capitalization of $999.60 million, a price-to-earnings ratio of 22.76 and a beta of 0.86. The stock's fifty day simple moving average is $53.02 and its two-hundred day simple moving average is $53.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.45 and a quick ratio of 0.36.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.03). The business had revenue of $46.98 million for the quarter, compared to analyst estimates of $46.91 million. Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%.

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Middlesex Water's dividend payout ratio (DPR) is 61.02%.

Insider Buying and Selling at Middlesex Water

In other news, Director Robert N. Hoglund acquired 2,000 shares of the company's stock in a transaction that occurred on 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 acquisition, the director directly owned 2,000 shares in the company, valued at approximately $108,620. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.86% of the stock is currently owned by company insiders.

Institutional Trading of Middlesex Water

A number of large investors have recently modified their holdings of MSEX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Middlesex Water by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider's stock worth $892,000 after acquiring an additional 1,058 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Middlesex Water by 23.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider's stock worth $12,216,000 after acquiring an additional 36,540 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Middlesex Water by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,222 shares of the utilities provider's stock worth $3,796,000 after acquiring an additional 2,349 shares during the period. Creative Planning increased its holdings in shares of Middlesex Water by 47.1% in the 2nd quarter. Creative Planning now owns 4,795 shares of the utilities provider's stock worth $260,000 after acquiring an additional 1,535 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Middlesex Water by 21.0% in the 2nd quarter. American Century Companies Inc. now owns 42,320 shares of the utilities provider's stock worth $2,293,000 after acquiring an additional 7,335 shares during the period. Institutional investors and hedge funds own 79.52% of the company's stock.

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.

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