Middlesex Water (NASDAQ:MSEX) Hits New 12-Month Low at $54.05

Middlesex Water (NASDAQ:MSEXGet Free Report)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $54.05 and last traded at $54.39, with a volume of 4169 shares traded. The stock had previously closed at $54.29.

Wall Street Analysts Forecast Growth

Separately, TheStreet cut Middlesex Water from a “b-” rating to a “c+” rating in a report on Friday, October 20th.

Read Our Latest Stock Analysis on Middlesex Water

Middlesex Water Stock Performance

The stock’s 50-day moving average is $62.89 and its 200-day moving average is $67.90. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.12 and a quick ratio of 1.07. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 30.67 and a beta of 0.77.

Middlesex Water (NASDAQ:MSEXGet Free Report) last released its earnings results on Thursday, November 9th. The utilities provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.32). Middlesex Water had a net margin of 19.78% and a return on equity of 8.06%. The business had revenue of $46.72 million during the quarter, compared to analyst estimates of $50.00 million. Analysts anticipate that Middlesex Water will post 1.9 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.325 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.30 annualized dividend and a dividend yield of 2.30%. Middlesex Water’s payout ratio is currently 70.65%.

Insider Buying and Selling

In related news, Director James F. Jr. Cosgrove sold 1,352 shares of Middlesex Water stock in a transaction on Monday, December 11th. The stock was sold at an average price of $66.83, for a total value of $90,354.16. Following the transaction, the director now owns 7,742 shares in the company, valued at $517,397.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.86% of the company’s stock.

Institutional Investors Weigh In On Middlesex Water

Institutional investors have recently bought and sold shares of the business. US Bancorp DE lifted its stake in shares of Middlesex Water by 60.4% during the fourth quarter. US Bancorp DE now owns 648 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 244 shares in the last quarter. Corient Private Wealth LLC grew its position in Middlesex Water by 4.5% in the fourth quarter. Corient Private Wealth LLC now owns 14,756 shares of the utilities provider’s stock valued at $968,000 after acquiring an additional 638 shares in the last quarter. UBS Group AG grew its position in Middlesex Water by 34.7% in the fourth quarter. UBS Group AG now owns 38,492 shares of the utilities provider’s stock valued at $2,526,000 after acquiring an additional 9,913 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in Middlesex Water in the fourth quarter valued at approximately $307,000. Finally, Main Street Financial Solutions LLC grew its position in Middlesex Water by 2.0% in the fourth quarter. Main Street Financial Solutions LLC now owns 10,447 shares of the utilities provider’s stock valued at $686,000 after acquiring an additional 200 shares in the last quarter. 70.52% of the stock is currently owned by hedge funds and other institutional investors.

Middlesex Water Company Profile

(Get Free Report)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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.

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