Key Points
- Middlesex Water VP Lorrie Beth Ginegaw sold 615 shares for approximately $35,430 at an average price of $57.61, reducing her holdings by 13.39% to 3,978 shares.
- The company exceeded quarterly expectations, reporting EPS of $0.79 versus the $0.66 consensus and revenue of $56.36 million compared with estimates of $54.51 million.
- Middlesex Water announced a quarterly dividend of $0.36 per share, equivalent to a $1.44 annualized payout and a 2.5% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $61.67.
Middlesex Water Company (NASDAQ:MSEX - Get Free Report) VP Lorrie Beth Ginegaw sold 615 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $57.61, for a total value of $35,430.15. Following the completion of the transaction, the vice president owned 3,978 shares of the company's stock, valued at approximately $229,172.58. The trade was a 13.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Middlesex Water Trading Up 1.5%
NASDAQ MSEX opened at $58.22 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 0.76. Middlesex Water Company has a twelve month low of $44.17 and a twelve month high of $62.17. The firm has a market capitalization of $1.10 billion, a PE ratio of 22.48 and a beta of 0.75. The stock's 50 day moving average is $55.04 and its 200 day moving average is $53.47.
Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. The business had revenue of $56.36 million during the quarter, compared to the consensus estimate of $54.51 million. Middlesex Water had a return on equity of 9.59% and a net margin of 23.26%.
Middlesex Water Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.5%. Middlesex Water's dividend payout ratio is currently 55.60%.
Institutional Investors Weigh In On Middlesex Water
Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in shares of Middlesex Water by 68.6% in the first quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider's stock worth $27,000 after acquiring an additional 212 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Middlesex Water in the 2nd quarter worth about $27,000. Western Wealth Management LLC bought a new position in Middlesex Water in the 1st quarter worth about $33,000. Versant Capital Management Inc boosted its stake in Middlesex Water by 328.9% in the 2nd quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider's stock worth $38,000 after purchasing an additional 523 shares in the last quarter. Finally, KBC Group NV bought a new position in Middlesex Water in the 1st quarter worth about $45,000. 79.52% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on MSEX shares. Robert W. Baird set a $66.00 price target on shares of Middlesex Water in a research report on Friday, July 31st. Wall Street Zen raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. New Street Research set a $64.00 price objective on shares of Middlesex Water in a report on Thursday, July 9th. Finally, Weiss Ratings raised shares of Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.67.
View Our Latest Stock Analysis on Middlesex Water
Middlesex Water Company Profile
(
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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