Janney Montgomery Scott LLC Has $1.48 Million Position in Middlesex Water Company (NASDAQ:MSEX)
Janney Montgomery Scott LLC increased its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 37,403 shares of the utilities provider’s stock after buying an additional 2,116 shares during the period. Janney Montgomery Scott LLC’s holdings in Middlesex Water were worth $1,481,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MSEX. Russell Investments Group Ltd. bought a new position in Middlesex Water during the first quarter worth about $235,000. Bank of Montreal Can increased its position in Middlesex Water by 19.7% in the first quarter. Bank of Montreal Can now owns 6,643 shares of the utilities provider’s stock worth $245,000 after buying an additional 1,094 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Middlesex Water during the second quarter worth about $337,000. Private Advisor Group LLC increased its position in Middlesex Water by 33.9% in the first quarter. Private Advisor Group LLC now owns 8,865 shares of the utilities provider’s stock worth $328,000 after buying an additional 2,246 shares during the period. Finally, Old Mutual Global Investors UK Ltd. bought a new position in Middlesex Water during the first quarter worth about $334,000. Institutional investors and hedge funds own 48.93% of the company’s stock.
Middlesex Water Company (NASDAQ:MSEX) opened at 38.17 on Thursday. The stock has a market cap of $623.58 million, a P/E ratio of 28.81 and a beta of 0.40. The stock has a 50 day moving average price of $39.34 and a 200-day moving average price of $37.50. Middlesex Water Company has a 52 week low of $32.23 and a 52 week high of $44.48.
Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.05. Middlesex Water had a net margin of 16.46% and a return on equity of 9.95%. The business had revenue of $33.01 million for the quarter, compared to the consensus estimate of $34 million. On average, equities analysts anticipate that Middlesex Water Company will post $1.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.2113 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, August 9th. Middlesex Water’s dividend payout ratio is 63.91%.
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A number of research firms have issued reports on MSEX. Zacks Investment Research downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. ValuEngine upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th.
Middlesex Water Company Profile
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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