Middlesex Water (NASDAQ:MSEX - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $47.60 and last traded at $47.90, with a volume of 8894 shares traded. The stock had previously closed at $50.00.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird reduced their target price on shares of Middlesex Water from $69.00 to $59.00 and set an "outperform" rating for the company in a report on Friday, March 1st.
Check Out Our Latest Stock Report on Middlesex Water
Middlesex Water Price Performance
The stock has a 50 day moving average of $52.53 and a two-hundred day moving average of $60.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.98 and a current ratio of 1.05. The stock has a market cap of $852.78 million, a PE ratio of 27.19 and a beta of 0.74.
Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its earnings results on Thursday, February 29th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.14). The business had revenue of $38.60 million during the quarter, compared to analysts' expectations of $41.00 million. Middlesex Water had a net margin of 18.96% and a return on equity of 7.61%. Equities analysts anticipate that Middlesex Water will post 2.28 EPS for the current year.
Middlesex Water Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Wednesday, February 14th. Middlesex Water's dividend payout ratio (DPR) is presently 73.86%.
Insider Activity at Middlesex Water
In other Middlesex Water news, Director James F. Jr. Cosgrove acquired 1,600 shares of Middlesex Water stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $51.70 per share, with a total value of $82,720.00. Following the purchase, the director now owns 9,342 shares in the company, valued at $482,981.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.86% of the company's stock.
Hedge Funds Weigh In On Middlesex Water
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Middlesex Water by 106.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 51,137 shares of the utilities provider's stock valued at $3,356,000 after purchasing an additional 26,415 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Middlesex Water in the 3rd quarter valued at $393,000. Crestwood Advisors Group LLC bought a new position in shares of Middlesex Water during the 3rd quarter worth about $212,000. Daiwa Securities Group Inc. increased its stake in Middlesex Water by 138.3% in the third quarter. Daiwa Securities Group Inc. now owns 2,903 shares of the utilities provider's stock valued at $192,000 after acquiring an additional 1,685 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Middlesex Water by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 138,148 shares of the utilities provider's stock worth $9,152,000 after purchasing an additional 1,439 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.
About Middlesex Water
(
Get Free Report)
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.
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