Middlesex Water (NASDAQ:MSEX) Director Robert Hoglund Purchases 2,000 Shares

Middlesex Water Company (NASDAQ:MSEX) Director Robert Hoglund acquired 2,000 shares of the company’s stock in a transaction on Friday, February 27th. The stock was purchased at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the purchase, the director directly owned 2,000 shares in the company, valued at $108,620. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Middlesex Water Stock Up 0.6%

Shares of NASDAQ:MSEX opened at $54.00 on Friday. Middlesex Water Company has a fifty-two week low of $44.17 and a fifty-two week high of $67.09. The company has a quick ratio of 0.36, a current ratio of 0.45 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $52.61 and its 200-day simple moving average is $53.35. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.51 and a beta of 0.89.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Middlesex Water had a net margin of 21.99% and a return on equity of 9.09%. The firm had revenue of $46.98 million during the quarter, compared to analyst estimates of $46.91 million. As a group, equities research analysts predict that Middlesex Water Company will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, February 17th. Middlesex Water’s dividend payout ratio is currently 61.02%.

Wall Street Analysts Forecast Growth

MSEX has been the topic of a number of recent analyst reports. Loop Capital set a $55.00 price target on shares of Middlesex Water in a research note on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Robert W. Baird dropped their target price on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, New Street Research set a $52.00 price target on shares of Middlesex Water in a research report on Friday, December 5th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Hedge Funds Weigh In On Middlesex Water

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of Middlesex Water by 112.0% during the fourth quarter. Morgan Stanley now owns 1,066,578 shares of the utilities provider’s stock valued at $53,777,000 after acquiring an additional 563,457 shares during the last quarter. Legal & General Group Plc lifted its holdings in Middlesex Water by 32.9% in the 3rd quarter. Legal & General Group Plc now owns 379,762 shares of the utilities provider’s stock valued at $20,553,000 after purchasing an additional 94,082 shares in the last quarter. TSP Capital Management Group LLC lifted its holdings in Middlesex Water by 57.8% in the 4th quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider’s stock valued at $9,483,000 after purchasing an additional 68,854 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Middlesex Water by 4.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock worth $85,684,000 after purchasing an additional 66,174 shares during the last quarter. Finally, Aventail Capital Group LP purchased a new stake in shares of Middlesex Water during the fourth quarter worth about $2,295,000. 79.52% of the stock is owned by institutional investors and hedge funds.

About Middlesex Water

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.