GAMMA Investing LLC Acquires 1,453 Shares of Middlesex Water Company $MSEX

GAMMA Investing LLC increased its holdings in Middlesex Water Company (NASDAQ:MSEX) by 67.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,622 shares of the utilities provider’s stock after acquiring an additional 1,453 shares during the period. GAMMA Investing LLC’s holdings in Middlesex Water were worth $196,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CX Institutional purchased a new stake in shares of Middlesex Water in the first quarter worth approximately $38,000. Nisa Investment Advisors LLC grew its holdings in Middlesex Water by 128.3% during the first quarter. Nisa Investment Advisors LLC now owns 662 shares of the utilities provider’s stock worth $42,000 after buying an additional 372 shares in the last quarter. Costello Asset Management INC purchased a new stake in Middlesex Water in the 1st quarter valued at $50,000. Meeder Asset Management Inc. bought a new position in Middlesex Water during the 1st quarter valued at $203,000. Finally, Crestwood Advisors Group LLC purchased a new position in Middlesex Water during the 1st quarter worth $208,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Stock Performance

NASDAQ MSEX opened at $53.50 on Monday. The company has a fifty day moving average price of $53.12 and a 200-day moving average price of $56.85. The firm has a market cap of $964.07 million, a price-to-earnings ratio of 22.11, a PEG ratio of 3.70 and a beta of 0.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.41 and a quick ratio of 0.35. Middlesex Water Company has a 1 year low of $48.18 and a 1 year high of $70.73.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Middlesex Water had a net margin of 22.15% and a return on equity of 9.67%. The firm had revenue of $49.32 million for the quarter, compared to the consensus estimate of $52.60 million. As a group, equities research analysts predict that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. Middlesex Water’s dividend payout ratio is currently 56.20%.

Middlesex Water Profile

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.