Commonwealth Equity Services LLC Purchases 2,149 Shares of Middlesex Water (NASDAQ:MSEX)

Commonwealth Equity Services LLC grew its position in Middlesex Water (NASDAQ:MSEX) by 33.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,568 shares of the utilities provider’s stock after purchasing an additional 2,149 shares during the period. Commonwealth Equity Services LLC’s holdings in Middlesex Water were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in Middlesex Water by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 146,041 shares of the utilities provider’s stock valued at $9,583,000 after buying an additional 7,893 shares during the period. Dimensional Fund Advisors LP raised its stake in Middlesex Water by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 467,032 shares of the utilities provider’s stock valued at $30,648,000 after buying an additional 1,546 shares during the period. Quadrant Capital Group LLC raised its stake in Middlesex Water by 958.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,439 shares of the utilities provider’s stock valued at $94,000 after buying an additional 1,303 shares during the period. Corient Private Wealth LLC raised its stake in Middlesex Water by 4.5% in the fourth quarter. Corient Private Wealth LLC now owns 14,756 shares of the utilities provider’s stock valued at $968,000 after buying an additional 638 shares during the period. Finally, KBC Group NV raised its stake in Middlesex Water by 16.1% in the fourth quarter. KBC Group NV now owns 255,015 shares of the utilities provider’s stock valued at $16,734,000 after buying an additional 35,332 shares during the period. Institutional investors own 79.52% of the company’s stock.

Middlesex Water Stock Performance

Shares of Middlesex Water stock opened at $65.10 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $63.02 and a two-hundred day moving average price of $55.94. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $73.47. The company has a market cap of $1.16 billion, a P/E ratio of 32.23 and a beta of 0.79.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.05). The firm had revenue of $49.15 million during the quarter, compared to analyst estimates of $47.00 million. Middlesex Water had a net margin of 21.14% and a return on equity of 8.69%. As a group, analysts anticipate that Middlesex Water will post 2.21 EPS for the current year.

Middlesex Water Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.30 dividend on an annualized basis and a yield of 2.00%. Middlesex Water’s dividend payout ratio (DPR) is currently 64.36%.

Wall Street Analyst Weigh In

MSEX has been the topic of several research reports. Robert W. Baird downgraded Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 target price on the stock. in a research report on Monday, August 5th. Baird R W downgraded Middlesex Water from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th.

About Middlesex Water

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. 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.