Northstar Asset Management Inc. Purchases 17,723 Shares of Middlesex Water Company $MSEX

Northstar Asset Management Inc. raised its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 52.0% during the 3rd quarter, Holdings Channel reports. The fund owned 51,795 shares of the utilities provider’s stock after purchasing an additional 17,723 shares during the period. Northstar Asset Management Inc.’s holdings in Middlesex Water were worth $2,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Middlesex Water by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider’s stock valued at $892,000 after purchasing an additional 1,058 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Middlesex Water by 23.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider’s stock valued at $12,216,000 after buying an additional 36,540 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Middlesex Water by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,222 shares of the utilities provider’s stock valued at $3,796,000 after acquiring an additional 2,349 shares during the last quarter. GAMMA Investing LLC grew its position in Middlesex Water by 67.0% in the second quarter. GAMMA Investing LLC now owns 3,622 shares of the utilities provider’s stock worth $196,000 after acquiring an additional 1,453 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in Middlesex Water during the second quarter worth approximately $327,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Middlesex Water in a research report on Wednesday, October 8th. Robert W. Baird cut their price objective on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, New Street Research set a $52.00 target price on shares of Middlesex Water in a report on Friday, December 5th. Two 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Middlesex Water Stock Performance

MSEX stock opened at $53.48 on Friday. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $67.09. The business has a 50-day moving average price of $51.71 and a 200 day moving average price of $53.42. The company has a market capitalization of $980.82 million, a P/E ratio of 22.38, a PEG ratio of 3.46 and a beta of 0.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.42 and a quick ratio of 0.36.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings results on Friday, October 31st. The utilities provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.09). Middlesex Water had a net margin of 22.08% and a return on equity of 9.38%. The business had revenue of $54.09 million during the quarter, compared to the consensus estimate of $56.08 million. As a group, equities research analysts forecast that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

About Middlesex Water

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.