Middlesex Water (NASDAQ:MSEX) Trading 2.8% Higher

Middlesex Water (NASDAQ:MSEXGet Rating)’s share price traded up 2.8% during trading on Friday . The stock traded as high as $92.82 and last traded at $92.28. 1,516 shares changed hands during trading, a decline of 98% from the average session volume of 76,403 shares. The stock had previously closed at $89.78.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TheStreet raised Middlesex Water from a “c+” rating to a “b-” rating in a research report on Monday, July 25th. StockNews.com raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, Janney Montgomery Scott raised Middlesex Water from a “neutral” rating to a “buy” rating in a research report on Friday, June 24th.

Middlesex Water Stock Performance

The company has a current ratio of 0.50, a quick ratio of 0.42 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 39.76 and a beta of 0.57. The stock has a 50-day simple moving average of $90.85 and a 200-day simple moving average of $92.06.

Middlesex Water Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. Middlesex Water’s dividend payout ratio (DPR) is 51.79%.

Insider Activity

In other news, VP Lorrie Beth Ginegaw sold 620 shares of the business’s 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 completion of the sale, the vice president now directly owns 155 shares in the company, valued at approximately $12,452.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Hanson & Doremus Investment Management bought a new position in Middlesex Water during the 1st quarter worth $32,000. Meeder Asset Management Inc. grew its stake in Middlesex Water by 67.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 393 shares of the utilities provider’s stock worth $34,000 after buying an additional 159 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Middlesex Water during the 4th quarter worth $65,000. Captrust Financial Advisors grew its stake in Middlesex Water by 2,666.7% during the 2nd quarter. Captrust Financial Advisors now owns 664 shares of the utilities provider’s stock worth $58,000 after buying an additional 640 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new position in Middlesex Water during the 2nd quarter worth $66,000. 66.92% of the stock is currently owned by institutional investors.

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.

Further Reading

Receive News & Ratings for Middlesex Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlesex Water and related companies with MarketBeat.com's FREE daily email newsletter.