CenterBook Partners LP Reduces Holdings in Middlesex Water Company $MSEX

CenterBook Partners LP cut its stake in Middlesex Water Company (NASDAQ:MSEX) by 39.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,839 shares of the utilities provider’s stock after selling 10,341 shares during the period. CenterBook Partners LP owned about 0.09% of Middlesex Water worth $857,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Middlesex Water by 35.8% during the third quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 170 shares in the last quarter. Amalgamated Bank grew its stake in Middlesex Water by 3.5% during the 3rd quarter. Amalgamated Bank now owns 5,257 shares of the utilities provider’s stock worth $285,000 after buying an additional 179 shares during the last quarter. Raymond James Financial Inc. increased its position in Middlesex Water by 1.8% during the second quarter. Raymond James Financial Inc. now owns 10,691 shares of the utilities provider’s stock worth $579,000 after buying an additional 193 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Middlesex Water by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 6,602 shares of the utilities provider’s stock valued at $358,000 after buying an additional 208 shares during the last quarter. Finally, Parcion Private Wealth LLC boosted its holdings in shares of Middlesex Water by 3.7% in the third quarter. Parcion Private Wealth LLC now owns 8,311 shares of the utilities provider’s stock valued at $450,000 after acquiring an additional 296 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Stock Performance

Shares of MSEX opened at $54.13 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.73. Middlesex Water Company has a 52-week low of $44.17 and a 52-week high of $67.09. The company has a 50-day simple moving average of $52.48 and a 200-day simple moving average of $53.30. The company has a market capitalization of $992.74 million, a PE ratio of 22.94, a P/E/G ratio of 3.53 and a beta of 0.89.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). The firm had revenue of $46.98 million for the quarter, compared to analyst estimates of $46.91 million. Middlesex Water had a return on equity of 9.25% and a net margin of 21.99%. Equities research analysts predict that Middlesex Water Company will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be given a $0.36 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. Middlesex Water’s dividend payout ratio is currently 60.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Robert W. Baird dropped their price objective on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, New Street Research set a $52.00 target price on shares of Middlesex Water in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate 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.