Middlesex Water Company (NASDAQ:MSEX – Get Free Report)’s share price reached a new 52-week high on Thursday. The stock traded as high as $60.16 and last traded at $60.8250, with a volume of 10,847 shares changing hands. The stock had previously closed at $59.20.
Middlesex Water News Summary
Here are the key news stories impacting Middlesex Water this week:
- Positive Sentiment: Huntington initiated coverage with a Strong Buy rating and projected EPS of $2.82 for FY2026, $2.80 for FY2027 and $2.92 for FY2028. These are analyst forecasts, not company guidance. Huntington stock recommendations
- Positive Sentiment: Freedom Broker raised its price target for MSEX, another potentially supportive signal; the available report does not specify the revised target. Middlesex Water stock gets price target increase from Freedom Broker
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on MSEX shares. Huntington began coverage on Middlesex Water in a report on Sunday. They set a “strong-buy” rating for the company. Freedom Broker increased their target price on Middlesex Water from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday. Weiss Ratings raised Middlesex Water from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, October 12th. New Street Research set a $64.00 price target on Middlesex Water in a research note on Thursday, July 9th. Finally, Robert W. Baird set a $66.00 price objective on Middlesex Water in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Middlesex Water presently has an average rating of “Moderate Buy” and an average target price of $60.75.
Middlesex Water Stock Performance
The stock’s 50-day simple moving average is $55.48 and its 200-day simple moving average is $54.26. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 21.88 and a beta of 0.71. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 0.72.
Middlesex Water (NASDAQ:MSEX – Get Free Report) last announced its earnings results on Thursday, October 29th. The utilities provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.82 by $0.13. The company had revenue of $60.21 million for the quarter, compared to analysts’ expectations of $59.90 million. Middlesex Water had a net margin of 24.50% and a return on equity of 10.08%.
Middlesex Water Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.38 per share. This is a boost from Middlesex Water’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, November 16th. This represents a $1.52 dividend on an annualized basis and a yield of 2.5%. Middlesex Water’s dividend payout ratio is 54.87%.
Insiders Place Their Bets
In other Middlesex Water news, VP Lorrie Ginegaw sold 615 shares of Middlesex Water stock in a transaction on Friday, August 7th. The stock was sold at an average price of $57.61, for a total value of $35,430.15. Following the completion of the transaction, the vice president directly owned 3,978 shares of the company’s stock, valued at $229,172.58. The trade was a 13.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.92% of the stock is owned by corporate insiders.
Institutional Trading of Middlesex Water
Several large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Middlesex Water in the 2nd quarter valued at $176,031,000. Legal & General Group Plc acquired a new position in shares of Middlesex Water during the 2nd quarter worth $24,570,000. Dimensional Fund Advisors LP lifted its position in shares of Middlesex Water by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 345,761 shares of the utilities provider’s stock worth $17,998,000 after buying an additional 3,045 shares during the last quarter. TSP Capital Management Group LLC boosted its stake in Middlesex Water by 5.0% in the third quarter. TSP Capital Management Group LLC now owns 221,590 shares of the utilities provider’s stock valued at $11,738,000 after buying an additional 10,553 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Middlesex Water in the second quarter valued at about $10,054,000. 79.52% of the stock is owned by institutional investors and hedge funds.
About Middlesex Water
Middlesex Water Company (NASDAQ:MSEX) is a regulated water and wastewater utility that owns and operates systems serving residential, commercial, industrial and municipal customers. Its services include the production, treatment, distribution and sale of potable water, as well as wastewater collection and treatment.
Founded in 1897, the company primarily serves communities in New Jersey and Delaware through its regulated utility operations. Its New Jersey service area includes portions of Middlesex, Union, Somerset and Mercer counties, while its Delaware operations serve customers through the Tidewater Utilities subsidiary.
Middlesex Water also provides contract operations, maintenance and related services for municipal and other public water and wastewater systems.
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