State of Alaska Department of Revenue Acquires 763 Shares of Middlesex Water Company $MSEX

State of Alaska Department of Revenue grew its holdings in shares of Middlesex Water Company (NASDAQ:MSEX) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,657 shares of the utilities provider’s stock after acquiring an additional 763 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Middlesex Water worth $576,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. CX Institutional bought a new stake in Middlesex Water in the first quarter valued at approximately $38,000. Nisa Investment Advisors LLC grew its stake in Middlesex Water by 128.3% in the first quarter. Nisa Investment Advisors LLC now owns 662 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 372 shares during the period. Costello Asset Management INC purchased a new stake in shares of Middlesex Water in the first quarter worth $50,000. ST Germain D J Co. Inc. purchased a new stake in shares of Middlesex Water in the second quarter worth $72,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Middlesex Water by 67.0% during the second quarter. GAMMA Investing LLC now owns 3,622 shares of the utilities provider’s stock valued at $196,000 after purchasing an additional 1,453 shares in the last quarter. Institutional investors own 79.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Middlesex Water in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Middlesex Water Price Performance

NASDAQ:MSEX opened at $55.19 on Thursday. Middlesex Water Company has a 1 year low of $48.18 and a 1 year high of $70.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.41 and a quick ratio of 0.35. The firm has a market capitalization of $994.52 million, a price-to-earnings ratio of 22.81, a PEG ratio of 3.79 and a beta of 0.83. The business has a 50 day simple moving average of $53.28 and a 200-day simple moving average of $56.53.

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

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, August 15th. Middlesex Water’s dividend payout ratio (DPR) is presently 56.20%.

Middlesex Water Company 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.