Short Interest in Middlesex Water (NASDAQ:MSEX) Decreases By 19.0%

Middlesex Water (NASDAQ:MSEXGet Free Report) saw a large decline in short interest in February. As of February 29th, there was short interest totalling 318,900 shares, a decline of 19.0% from the February 14th total of 393,500 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 165,800 shares, the days-to-cover ratio is presently 1.9 days.

Middlesex Water Price Performance

Shares of MSEX opened at $52.57 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.98 and a current ratio of 1.05. The stock’s fifty day moving average is $55.61 and its 200-day moving average is $63.17. Middlesex Water has a one year low of $48.59 and a one year high of $84.38. The firm has a market capitalization of $936.90 million, a price-to-earnings ratio of 29.87 and a beta of 0.74.

Middlesex Water (NASDAQ:MSEXGet Free Report) last released its earnings results on Thursday, February 29th. The utilities provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.14). Middlesex Water had a net margin of 18.96% and a return on equity of 7.61%. The company had revenue of $38.60 million for the quarter, compared to analyst estimates of $41.00 million. Equities analysts anticipate that Middlesex Water will post 2.28 EPS for the current year.

Middlesex Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a $0.325 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.30 annualized dividend and a dividend yield of 2.47%. Middlesex Water’s dividend payout ratio is presently 73.86%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their price target on Middlesex Water from $69.00 to $59.00 and set an “outperform” rating for the company in a report on Friday, March 1st.

Get Our Latest Analysis on MSEX

Insider Buying and Selling

In other news, Director James F. Jr. Cosgrove acquired 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $51.70 per share, with a total value of $82,720.00. Following the completion of the acquisition, the director now owns 9,342 shares of the company’s stock, valued at approximately $482,981.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Middlesex Water by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,427,157 shares of the utilities provider’s stock valued at $93,650,000 after buying an additional 20,712 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Middlesex Water by 70.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 29,020 shares of the utilities provider’s stock valued at $1,904,000 after acquiring an additional 12,037 shares during the last quarter. Virtu Financial LLC bought a new stake in Middlesex Water in the 4th quarter worth approximately $221,000. Price T Rowe Associates Inc. MD increased its stake in Middlesex Water by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,784 shares of the utilities provider’s stock worth $971,000 after purchasing an additional 2,455 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in Middlesex Water in the fourth quarter worth $38,000. Institutional investors and hedge funds own 70.52% of the company’s stock.

Middlesex Water Company Profile

(Get Free Report)

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.

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