Barclays PLC Boosts Stock Holdings in Middlesex Water (NASDAQ:MSEX)

Barclays PLC raised its position in shares of Middlesex Water (NASDAQ:MSEX) by 349.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,919 shares of the utilities provider’s stock after acquiring an additional 23,262 shares during the quarter. Barclays PLC owned approximately 0.17% of Middlesex Water worth $1,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MSEX. State Street Corp raised its stake in Middlesex Water by 7.0% in the 3rd quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock valued at $53,070,000 after purchasing an additional 53,098 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Middlesex Water by 12.5% during the second quarter. Bank of New York Mellon Corp now owns 219,119 shares of the utilities provider’s stock worth $11,451,000 after buying an additional 24,400 shares in the last quarter. Thematics Asset Management raised its position in shares of Middlesex Water by 5.8% in the third quarter. Thematics Asset Management now owns 181,000 shares of the utilities provider’s stock valued at $11,808,000 after buying an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Middlesex Water by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,281 shares of the utilities provider’s stock worth $10,913,000 after buying an additional 6,844 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Middlesex Water by 89.0% during the third quarter. Assenagon Asset Management S.A. now owns 74,946 shares of the utilities provider’s stock worth $4,889,000 after acquiring an additional 35,282 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MSEX. Robert W. Baird increased their price objective on shares of Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Bank of America started coverage on Middlesex Water in a report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price target for the company.

Middlesex Water Price Performance

Shares of MSEX stock opened at $53.66 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. The company has a market capitalization of $958.10 million, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82. The firm’s 50-day moving average is $62.93 and its two-hundred day moving average is $61.39. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $70.73.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The firm had revenue of $55.10 million for the quarter, compared to analyst estimates of $50.00 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. During the same quarter in the previous year, the company earned $0.56 EPS. Analysts predict that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Middlesex Water’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.53%. Middlesex Water’s dividend payout ratio is currently 59.13%.

Middlesex Water 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.