Belpointe Asset Management LLC Invests $39,000 in Middlesex Water (NASDAQ:MSEX)

Belpointe Asset Management LLC bought a new position in shares of Middlesex Water (NASDAQ:MSEX – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 492 shares of the utilities provider’s stock, valued at approximately $39,000.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Middlesex Water by 179.6% in the first quarter. State Street Corp now owns 1,597,146 shares of the utilities provider’s stock valued at $167,972,000 after buying an additional 1,025,864 shares during the period. Eaton Vance Management raised its position in shares of Middlesex Water by 44,565.5% during the first quarter. Eaton Vance Management now owns 66,105 shares of the utilities provider’s stock worth $6,953,000 after purchasing an additional 65,957 shares during the period. Invesco Ltd. raised its position in shares of Middlesex Water by 17.6% during the first quarter. Invesco Ltd. now owns 396,210 shares of the utilities provider’s stock worth $41,669,000 after purchasing an additional 59,297 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Middlesex Water during the second quarter worth about $4,091,000. Finally, Vanguard Group Inc. raised its position in shares of Middlesex Water by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,399,160 shares of the utilities provider’s stock worth $108,016,000 after purchasing an additional 37,115 shares during the period. Institutional investors own 67.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com assumed coverage on Middlesex Water in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Robert W. Baird dropped their price target on Middlesex Water from $88.00 to $85.00 in a research report on Tuesday, May 2nd.

Middlesex Water Stock Down 0.9 %

Shares of Middlesex Water stock opened at $77.37 on Friday. The business’s 50 day simple moving average is $76.44 and its 200 day simple moving average is $82.01. Middlesex Water has a 52-week low of $66.51 and a 52-week high of $96.19. The firm has a market cap of $1.37 billion, a PE ratio of 38.11 and a beta of 0.76. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.34 and a current ratio of 0.41.

Middlesex Water (NASDAQ:MSEX – Get Rating) last released its quarterly earnings results on Friday, February 24th. The utilities provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.09). The firm had revenue of $38.82 million for the quarter, compared to analyst estimates of $39.00 million. Middlesex Water had a return on equity of 9.12% and a net margin of 22.02%. On average, analysts predict that Middlesex Water will post 2.22 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 12th will be issued a dividend of $0.313 per share. The ex-dividend date is Thursday, May 11th. This represents a $1.25 annualized dividend and a yield of 1.62%. Middlesex Water’s payout ratio is currently 61.58%.

Middlesex Water Profile

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Middlesex Water Co owns and operates regulated water utility and wastewater systems. The firm’s services include water production, treatment, & distribution, full service municipal contract operations, wastewater collection and treatment. It operates through two segments: Regulated and Non-Regulated.