Log Out

Philadelphia Trust Co. Buys Shares of 2,000 Middlesex Water (NASDAQ:MSEX)

Financial News Live · Jul 31, 2022 11:33

Philadelphia Trust Co. bought a new stake in shares of Middlesex Water (NASDAQ:MSEX – Get Rating) in the 1st quarter, HoldingsChannel reports. The fund bought 2,000 shares of the utilities provider's stock, valued at approximately $210,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hanson & Doremus Investment Management bought a new position in shares of Middlesex Water during the first quarter worth about $32,000. Allegheny Financial Group LTD bought a new position in shares of Middlesex Water during the fourth quarter worth about $47,000. UMB Bank N A MO bought a new position in shares of Middlesex Water during the fourth quarter worth about $48,000. Point72 Hong Kong Ltd bought a new position in shares of Middlesex Water during the fourth quarter worth about $65,000. Finally, Castleview Partners LLC bought a new position in shares of Middlesex Water during the fourth quarter worth about $82,000. Institutional investors own 68.14% of the company's stock.

Get Middlesex Water alerts:

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Middlesex Water from a "sell" rating to a "hold" rating in a research report on Thursday, May 12th. Janney Montgomery Scott raised shares of Middlesex Water from a "neutral" rating to a "buy" rating in a report on Friday, June 24th. TheStreet raised shares of Middlesex Water from a "c+" rating to a "b-" rating in a report on Monday, July 25th. Finally, 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.

Middlesex Water Price Performance

NASDAQ MSEX opened at $95.11 on Friday. The company has a market cap of $1.67 billion, a PE ratio of 40.30 and a beta of 0.54. Middlesex Water has a 1 year low of $75.77 and a 1 year high of $121.43. The company has a current ratio of 0.55, a quick ratio of 0.46 and a debt-to-equity ratio of 0.81. The stock's 50-day moving average price is $86.86 and its two-hundred day moving average price is $93.99.

Middlesex Water (NASDAQ:MSEX – Get Rating) last issued 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 company had revenue of $36.20 million for the quarter, compared to the consensus estimate of $36.00 million. Middlesex Water had a return on equity of 11.41% and a net margin of 28.43%. On average, analysts predict that Middlesex Water will post 2.65 EPS for the current year.

Middlesex Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be issued a $0.29 dividend. The ex-dividend date is Thursday, August 11th. This represents a $1.16 dividend on an annualized basis and a yield of 1.22%. Middlesex Water's dividend payout ratio is currently 49.15%.

Insider Buying and Selling

In related news, VP Lorrie Beth Ginegaw sold 620 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $80.34, for a total value of $49,810.80. Following the transaction, the vice president now owns 155 shares in the company, valued at $12,452.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.92% of the stock is currently owned by corporate insiders.

About Middlesex Water

(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.