Insider Buying: Middlesex Water (NASDAQ:MSEX) Director Purchases 2,000 Shares of Stock

Middlesex Water Company (NASDAQ:MSEX) Director Robert Hoglund purchased 2,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $54.31 per share, with a total value of $108,620.00. Following the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at $108,620. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Middlesex Water Stock Performance

Shares of NASDAQ MSEX traded up $0.31 during trading on Friday, hitting $54.00. The company had a trading volume of 105,122 shares, compared to its average volume of 111,683. Middlesex Water Company has a 12 month low of $44.17 and a 12 month high of $67.09. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.45. The firm has a market capitalization of $1.00 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89. The stock has a 50 day simple moving average of $52.57 and a 200 day simple moving average of $53.35.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%.The firm had revenue of $46.98 million during the quarter, compared to analysts’ expectations of $46.91 million. As a group, analysts anticipate that Middlesex Water Company will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be given 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 (DPR) is presently 61.02%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MSEX shares. Robert W. Baird cut their price target on Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. New Street Research set a $52.00 price objective on Middlesex Water in a research note on Friday, December 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Middlesex Water in a research report on Thursday, January 22nd. Finally, Loop Capital set a $55.00 target price on Middlesex Water in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Institutional Investors Weigh In On Middlesex Water

A number of hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Middlesex Water by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider’s stock valued at $892,000 after buying an additional 1,058 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Middlesex Water by 23.7% in the first quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider’s stock worth $12,216,000 after acquiring an additional 36,540 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Middlesex Water by 4.1% during the first 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 during the last quarter. CWM LLC raised its position in Middlesex Water by 31.6% during the second quarter. CWM LLC now owns 1,742 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 418 shares during the period. Finally, Bank of Montreal Can raised its position in Middlesex Water by 32.4% during the second quarter. Bank of Montreal Can now owns 4,298 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 1,052 shares during the period. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Middlesex Water Company Profile

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.