Middlesex Water (NASDAQ:MSEX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Middlesex Water (NASDAQ:MSEX) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 434,559 shares of the utilities provider’s stock after purchasing an additional 3,430 shares during the quarter. Geode Capital Management LLC owned about 2.43% of Middlesex Water worth $28,356,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Middlesex Water by 66.2% during the third quarter. GAMMA Investing LLC now owns 2,046 shares of the utilities provider’s stock worth $133,000 after buying an additional 815 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Middlesex Water during the 3rd quarter valued at approximately $210,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Middlesex Water during the 3rd quarter worth approximately $225,000. Everence Capital Management Inc. acquired a new stake in shares of Middlesex Water in the 3rd quarter worth approximately $230,000. Finally, Victory Capital Management Inc. purchased a new position in Middlesex Water in the 3rd quarter valued at approximately $230,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MSEX shares. Robert W. Baird upped their target price on 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 shares of Middlesex Water in a research note on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price objective on the stock.

Middlesex Water Trading Up 0.3 %

MSEX stock opened at $53.66 on Friday. Middlesex Water has a 52 week low of $45.42 and a 52 week high of $70.73. The company has a market cap of $958.10 million, a price-to-earnings ratio of 23.33, a PEG ratio of 1.82 and a beta of 0.82. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $62.93 and a 200-day simple moving average of $61.39.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $55.10 million during the quarter, compared to the consensus estimate of $50.00 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, equities research analysts expect that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.34 dividend. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, November 15th. Middlesex Water’s payout ratio is currently 59.13%.

Middlesex Water Company 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.