Middlesex Water (NASDAQ:MSEX) Director Sells $48,986.12 in Stock

Middlesex Water (NASDAQ:MSEX) Director Walter G. Reinhard sold 857 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $57.16, for a total value of $48,986.12. Following the transaction, the director now owns 7,151 shares of the company’s stock, valued at $408,751.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Middlesex Water Price Performance

MSEX stock traded down $1.35 on Thursday, hitting $55.24. 46,650 shares of the company’s stock traded hands, compared to its average volume of 157,031. The stock has a market cap of $984.93 million, a price-to-earnings ratio of 28.01 and a beta of 0.74. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $84.38. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average of $51.59 and a 200-day moving average of $57.58.

Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.14. The company had revenue of $40.52 million for the quarter, compared to analyst estimates of $42.00 million. Middlesex Water had a return on equity of 8.64% and a net margin of 21.55%. On average, analysts forecast that Middlesex Water will post 2.28 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Tuesday, May 14th. Middlesex Water’s dividend payout ratio is 64.36%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MSEX shares. Robert W. Baird increased their price objective on Middlesex Water from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. StockNews.com upgraded shares of Middlesex Water to a “sell” rating in a research report on Thursday, May 9th.

Institutional Trading of Middlesex Water

Several large investors have recently added to or reduced their stakes in MSEX. GAMMA Investing LLC boosted its holdings in shares of Middlesex Water by 290.8% during the first quarter. GAMMA Investing LLC now owns 594 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 442 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Middlesex Water by 958.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,439 shares of the utilities provider’s stock valued at $94,000 after buying an additional 1,303 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in shares of Middlesex Water by 114.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,923 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,028 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Middlesex Water by 138.3% in the third quarter. Daiwa Securities Group Inc. now owns 2,903 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 1,685 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new stake in shares of Middlesex Water during the third quarter worth $212,000. 79.52% of the stock is owned by institutional investors and hedge funds.

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.