Middlesex Water Company $MSEX Stock Acquired by TSP Capital Management Group LLC

TSP Capital Management Group LLC increased its holdings in Middlesex Water Company (NASDAQ:MSEX) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,590 shares of the utilities provider’s stock after purchasing an additional 10,553 shares during the quarter. Middlesex Water makes up approximately 3.0% of TSP Capital Management Group LLC’s holdings, making the stock its 15th largest holding. TSP Capital Management Group LLC owned about 1.18% of Middlesex Water worth $11,738,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new position in Middlesex Water in the third quarter worth about $1,107,000. GAMMA Investing LLC boosted its holdings in Middlesex Water by 13.3% in the third quarter. GAMMA Investing LLC now owns 6,420 shares of the utilities provider’s stock worth $340,000 after acquiring an additional 753 shares in the last quarter. Versant Capital Management Inc boosted its stake in Middlesex Water by 44.7% in the 3rd quarter. Versant Capital Management Inc now owns 987 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 305 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Middlesex Water by 22.6% in the second quarter. Tidal Investments LLC now owns 10,515 shares of the utilities provider’s stock worth $591,000 after buying an additional 1,940 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Middlesex Water during the 2nd quarter valued at $28,000. Institutional investors own 79.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. New Street Research set a $64.00 target price on shares of Middlesex Water in a research note on Thursday, July 9th. Weiss Ratings raised Middlesex Water from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Finally, Robert W. Baird set a $66.00 target price on shares of Middlesex Water in a report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Middlesex Water Stock Up 0.5%

MSEX stock opened at $53.91 on Friday. The firm’s fifty day simple moving average is $56.21 and its 200-day simple moving average is $54.62. The company has a market capitalization of $1.02 billion, a P/E ratio of 20.81 and a beta of 0.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.50 and a quick ratio of 0.41. Middlesex Water Company has a 12 month low of $44.17 and a 12 month high of $62.17.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Middlesex Water had a return on equity of 9.59% and a net margin of 23.26%. The business had revenue of $56.36 million for the quarter, compared to analyst estimates of $54.51 million.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.36 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. Middlesex Water’s dividend payout ratio is presently 55.60%.

Insider Activity

In other news, VP Lorrie Ginegaw sold 615 shares of Middlesex Water stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $57.61, for a total transaction of $35,430.15. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.92% of the company’s stock.

About Middlesex Water

Middlesex Water Company is a regulated water and wastewater utility that owns and operates systems serving residential, commercial, industrial and public-sector customers. Its services include the collection, treatment, distribution and sale of potable water, as well as wastewater collection and treatment in areas where it provides sewer service.

The company’s principal operations are in New Jersey and Delaware. Its Middlesex System serves customers in central New Jersey, while subsidiaries and affiliated operations provide water and wastewater services in additional communities, including through contract operations and municipal partnerships.