4,477 Shares in Middlesex Water (NASDAQ:MSEX) Bought by Cable Hill Partners LLC

Cable Hill Partners LLC bought a new stake in shares of Middlesex Water (NASDAQ:MSEX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,477 shares of the utilities provider’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in Middlesex Water during the first quarter worth $52,000. GAMMA Investing LLC boosted its stake in shares of Middlesex Water by 107.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,231 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 637 shares in the last quarter. CWM LLC increased its position in shares of Middlesex Water by 65.1% during the 2nd quarter. CWM LLC now owns 1,306 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 515 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in Middlesex Water during the 3rd quarter valued at about $210,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Middlesex Water during the 3rd quarter valued at about $225,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Stock Down 0.6 %

Shares of NASDAQ:MSEX opened at $65.99 on Friday. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $73.47. The firm has a market cap of $1.18 billion, a P/E ratio of 28.69 and a beta of 0.79. 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 company’s 50-day moving average price is $64.88 and its two-hundred day moving average price is $59.97.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $55.10 million during 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 last year, the business posted $0.56 earnings per share. As a group, research analysts forecast that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.34 dividend. This is a boost from Middlesex Water’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 2.06%. Middlesex Water’s dividend payout ratio (DPR) is currently 56.52%.

Analyst Ratings Changes

Several research firms have recently weighed in on MSEX. Baird R W lowered shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Robert W. Baird lifted their price objective on Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, November 1st.

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.