Oregon Public Employees Retirement Fund lowered its holdings in shares of Middlesex Water (NASDAQ:MSEX – Get Rating) by 3.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,501 shares of the utilities provider’s stock after selling 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Middlesex Water were worth $684,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its holdings in shares of Middlesex Water by 3.9% during the 4th quarter. New York State Teachers Retirement System now owns 5,311 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 200 shares during the last quarter. Ellevest Inc. grew its holdings in Middlesex Water by 13.4% in the 1st quarter. Ellevest Inc. now owns 1,721 shares of the utilities provider’s stock worth $181,000 after acquiring an additional 204 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Middlesex Water by 0.8% in the 4th quarter. Public Sector Pension Investment Board now owns 35,640 shares of the utilities provider’s stock worth $4,287,000 after acquiring an additional 290 shares during the last quarter. Allegheny Financial Group LTD bought a new stake in Middlesex Water in the 4th quarter worth $47,000. Finally, UMB Bank N A MO bought a new stake in Middlesex Water in the 4th quarter worth $48,000. 68.14% of the stock is currently owned by institutional investors.
Shares of MSEX opened at $87.74 on Friday. The firm’s 50-day moving average price is $86.42 and its 200-day moving average price is $95.87. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 37.18 and a beta of 0.54. The company has a current ratio of 0.55, a quick ratio of 0.46 and a debt-to-equity ratio of 0.81. Middlesex Water has a 1-year low of $75.77 and a 1-year high of $121.43.
Middlesex Water (NASDAQ:MSEX – Get Rating) last announced its earnings results on Friday, April 29th. The utilities provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. The firm had revenue of $36.20 million for the quarter, compared to analyst estimates of $36.00 million. Middlesex Water had a net margin of 28.43% and a return on equity of 11.41%. On average, research analysts forecast that Middlesex Water will post 2.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Thursday, May 12th. Middlesex Water’s payout ratio is 49.15%.
A number of equities research analysts have issued reports on MSEX shares. Robert W. Baird cut their price target on shares of Middlesex Water from $102.00 to $99.00 in a report on Monday, May 2nd. TheStreet lowered shares of Middlesex Water from a “b” rating to a “c+” rating in a report on Monday, March 28th. Janney Montgomery Scott raised shares of Middlesex Water from a “neutral” rating to a “buy” rating in a research note on Friday, June 24th. Finally, StockNews.com raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th.
In other Middlesex Water news, VP Lorrie Beth Ginegaw sold 620 shares of the company’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $80.34, for a total value of $49,810.80. Following the sale, the vice president now owns 155 shares in the company, valued at $12,452.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.92% of the company’s stock.
Middlesex Water Profile (Get Rating)
Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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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