Shares of Middlesex Water (NASDAQ:MSEX) hit a new 52-week high during trading on Friday . The company traded as high as $48.36 and last traded at $48.11, with a volume of 46311 shares trading hands. The stock had previously closed at $46.92.

A number of analysts recently commented on MSEX shares. BidaskClub lowered Middlesex Water from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 25th. Zacks Investment Research lowered Middlesex Water from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. Finally, ValuEngine raised Middlesex Water from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd.

The stock has a market cap of $760.44 million, a P/E ratio of 34.86 and a beta of 0.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.38 and a quick ratio of 0.32.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Thursday, August 2nd. The utilities provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.14. Middlesex Water had a return on equity of 11.34% and a net margin of 19.56%. The business had revenue of $34.92 million during the quarter, compared to analyst estimates of $34.00 million. equities analysts predict that Middlesex Water will post 1.84 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Wednesday, August 15th were given a $0.224 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Tuesday, August 14th. Middlesex Water’s payout ratio is 64.49%.

In related news, VP A Bruce Oconnor sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $42.75, for a total value of $171,000.00. Following the completion of the sale, the vice president now directly owns 19,628 shares of the company’s stock, valued at approximately $839,097. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lorrie Beth Ginegaw sold 760 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $44.45, for a total value of $33,782.00. Following the completion of the sale, the vice president now directly owns 8,131 shares of the company’s stock, valued at $361,422.95. The disclosure for this sale can be found here. Insiders sold a total of 5,260 shares of company stock valued at $226,417 over the last ninety days. 3.48% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of MSEX. Sei Investments Co. boosted its stake in Middlesex Water by 6,000.0% during the 2nd quarter. Sei Investments Co. now owns 2,562 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 2,520 shares during the last quarter. Hancock Holding Co. boosted its stake in Middlesex Water by 26.1% during the 1st quarter. Hancock Holding Co. now owns 7,195 shares of the utilities provider’s stock valued at $264,000 after purchasing an additional 1,488 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Middlesex Water by 80.7% during the 1st quarter. JPMorgan Chase & Co. now owns 8,098 shares of the utilities provider’s stock valued at $298,000 after purchasing an additional 3,616 shares during the last quarter. Private Advisor Group LLC acquired a new position in Middlesex Water during the 2nd quarter valued at about $333,000. Finally, TD Asset Management Inc. boosted its stake in Middlesex Water by 69.3% during the 2nd quarter. TD Asset Management Inc. now owns 10,751 shares of the utilities provider’s stock valued at $453,000 after purchasing an additional 4,400 shares during the last quarter. 53.26% of the stock is owned by institutional investors and hedge funds.

Middlesex Water Company Profile (NASDAQ:MSEX)

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.

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