Exchange Traded Concepts LLC Purchases 27,038 Shares of Middlesex Water Company $MSEX

Exchange Traded Concepts LLC grew its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 204.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,250 shares of the utilities provider’s stock after acquiring an additional 27,038 shares during the period. Exchange Traded Concepts LLC owned about 0.22% of Middlesex Water worth $2,178,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. ST Germain D J Co. Inc. purchased a new position in Middlesex Water during the 2nd quarter valued at about $72,000. CWM LLC grew its position in shares of Middlesex Water by 31.6% in the 2nd quarter. CWM LLC now owns 1,742 shares of the utilities provider’s stock worth $94,000 after buying an additional 418 shares during the last quarter. GAMMA Investing LLC increased its stake 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 buying an additional 1,453 shares during the period. Bank of Montreal Can raised its holdings in shares of Middlesex Water by 32.4% during the second quarter. Bank of Montreal Can now owns 4,298 shares of the utilities provider’s stock valued at $233,000 after acquiring an additional 1,052 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Middlesex Water during the second quarter valued at approximately $244,000. 79.52% of the stock is owned by institutional investors.

Middlesex Water Trading Up 0.2%

NASDAQ:MSEX opened at $51.72 on Friday. The firm has a market capitalization of $948.45 million, a P/E ratio of 21.64, a PEG ratio of 3.69 and a beta of 0.88. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.42 and a quick ratio of 0.36. Middlesex Water Company has a one year low of $44.17 and a one year high of $67.09. The company’s 50-day simple moving average is $53.47 and its 200 day simple moving average is $53.95.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Friday, October 31st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.09). Middlesex Water had a net margin of 22.08% and a return on equity of 9.38%. The business had revenue of $54.09 million for the quarter, compared to analysts’ expectations of $56.08 million. As a group, analysts forecast that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.8%. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, November 17th. Middlesex Water’s dividend payout ratio is presently 60.25%.

Analysts Set New Price Targets

A number of research analysts have issued reports on MSEX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Middlesex Water in a research report on Wednesday, October 8th. New Street Research set a $52.00 target price on shares of Middlesex Water in a research note on Friday, December 5th. Finally, Robert W. Baird decreased their price target on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Middlesex Water presently has an average rating of “Buy” and an average price target of $60.33.

Middlesex Water Profile

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.