Insider Buying: Middlesex Water (NASDAQ:MSEX) Director Purchases $108,620.00 in Stock

Middlesex Water Company (NASDAQ:MSEX) Director Robert Hoglund acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the acquisition, the director owned 2,000 shares of the company’s stock, valued at $108,620. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Middlesex Water Stock Performance

Shares of Middlesex Water stock opened at $54.00 on Monday. The company has a market capitalization of $1.00 billion, a PE ratio of 22.88, a P/E/G ratio of 2.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.45. The company has a 50-day simple moving average of $52.61 and a two-hundred day simple moving average of $53.34. Middlesex Water Company has a one year low of $44.17 and a one year high of $67.09.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%.The firm had revenue of $46.98 million during the quarter, compared to analysts’ expectations of $46.91 million. Research analysts expect that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, February 17th. Middlesex Water’s payout ratio is presently 61.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MSEX shares. New Street Research set a $52.00 price target on shares of Middlesex Water in a report on Friday, December 5th. Robert W. Baird lowered their target price on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Middlesex Water in a research report on Thursday, January 22nd. Finally, Loop Capital set a $55.00 price target on Middlesex Water in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.00.

Hedge Funds Weigh In On Middlesex Water

A number of large investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Middlesex Water by 4.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock worth $85,684,000 after purchasing an additional 66,174 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Middlesex Water by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,398,851 shares of the utilities provider’s stock valued at $70,530,000 after purchasing an additional 25,363 shares in the last quarter. Morgan Stanley boosted its stake in Middlesex Water by 112.0% during the 4th quarter. Morgan Stanley now owns 1,066,578 shares of the utilities provider’s stock worth $53,777,000 after purchasing an additional 563,457 shares during the last quarter. State Street Corp grew its holdings in shares of Middlesex Water by 3.9% during the fourth quarter. State Street Corp now owns 730,072 shares of the utilities provider’s stock worth $36,810,000 after buying an additional 27,597 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Middlesex Water by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 464,484 shares of the utilities provider’s stock worth $23,424,000 after buying an additional 5,132 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.