Key Points
- Director Robert Hoglund bought 2,000 shares on Feb. 27 at an average price of $54.31 for a total of $108,620, a purchase disclosed in an SEC Form 4 that brought his direct stake to 2,000 shares.
- The company missed quarterly EPS estimates ($0.46 reported vs. $0.49 expected) while revenue was roughly in line at $46.98M; the stock trades at a PE of 22.9 with a MarketBeat consensus rating of "Moderate Buy" and a $59 target.
- Quarterly dividend of $0.36 per share was declared (annualized $1.44, yield ~2.7%), with an ex-dividend date of Feb. 17 and payment on March 2; the payout ratio is about 61%.
Middlesex Water Company (NASDAQ:MSEX - Get Free Report) Director Robert Hoglund bought 2,000 shares of the stock in a transaction on Friday, February 27th. The stock was purchased at an average cost of $54.31 per share, with a total value of $108,620.00. Following the completion of the purchase, the director directly owned 2,000 shares in the company, valued at $108,620. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Middlesex Water Trading Up 0.6%
Shares of Middlesex Water stock opened at $54.00 on Friday. Middlesex Water Company has a fifty-two week low of $44.17 and a fifty-two week high of $67.09. The business's fifty day moving average is $52.61 and its two-hundred day moving average is $53.35. The company has a quick ratio of 0.36, a current ratio of 0.45 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.00 billion, a PE ratio of 22.88, a P/E/G ratio of 2.51 and a beta of 0.89.
Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.03). Middlesex Water had a net margin of 21.99% and a return on equity of 9.09%. The business had revenue of $46.98 million during the quarter, compared to analysts' expectations of $46.91 million. Analysts anticipate that Middlesex Water Company will post 2.34 earnings per share for the current year.
Middlesex Water Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be issued 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 is Tuesday, February 17th. Middlesex Water's dividend payout ratio is presently 61.02%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in MSEX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Middlesex Water by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider's stock worth $892,000 after purchasing an additional 1,058 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Middlesex Water by 23.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider's stock valued at $12,216,000 after buying an additional 36,540 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Middlesex Water by 4.1% during 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 in the last quarter. CWM LLC lifted its position in Middlesex Water by 31.6% during the 2nd quarter. CWM LLC now owns 1,742 shares of the utilities provider's stock worth $94,000 after acquiring an additional 418 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Middlesex Water by 32.4% in the 2nd quarter. Bank of Montreal Can now owns 4,298 shares of the utilities provider's stock worth $233,000 after acquiring an additional 1,052 shares during the period. 79.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
MSEX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Middlesex Water in a research report on Thursday, January 22nd. Robert W. Baird lowered their price objective on shares of Middlesex Water from $73.00 to $63.00 and set an "outperform" rating for the company in a research note on Monday, November 3rd. Loop Capital set a $55.00 price objective on Middlesex Water in a report on Wednesday. Finally, New Street Research set a $52.00 target price on Middlesex Water in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.00.
Read Our Latest Analysis on Middlesex Water
About Middlesex Water
(
Get Free Report)
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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