North Star Investment Management Corp. held its position in Middlesex Water Company (NASDAQ:MSEX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,500 shares of the utilities provider’s stock at the end of the second quarter. North Star Investment Management Corp. owned 0.27% of Middlesex Water worth $1,723,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Middlesex Water during the first quarter valued at $235,000. Bank of Montreal Can raised its position in Middlesex Water by 19.7% in the first quarter. Bank of Montreal Can now owns 6,643 shares of the utilities provider’s stock valued at $245,000 after buying an additional 1,094 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Middlesex Water by 33.9% in the first quarter. Private Advisor Group LLC now owns 8,865 shares of the utilities provider’s stock worth $328,000 after buying an additional 2,246 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Middlesex Water during the first quarter worth approximately $334,000. Finally, American International Group Inc. increased its position in shares of Middlesex Water by 7.1% in the first quarter. American International Group Inc. now owns 9,770 shares of the utilities provider’s stock worth $361,000 after buying an additional 644 shares during the period. 49.05% of the stock is currently owned by hedge funds and other institutional investors.
Middlesex Water Company (NASDAQ:MSEX) opened at 39.39 on Friday. Middlesex Water Company has a 52 week low of $32.23 and a 52 week high of $44.48. The stock has a market cap of $643.51 million, a P/E ratio of 29.73 and a beta of 0.40. The firm has a 50-day moving average price of $39.59 and a 200-day moving average price of $37.47.
Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.05. Middlesex Water had a net margin of 16.46% and a return on equity of 9.95%. The firm had revenue of $33.01 million during the quarter, compared to analyst estimates of $34 million. On average, equities research analysts predict that Middlesex Water Company will post $1.48 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a $0.2113 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, August 9th. Middlesex Water’s dividend payout ratio is 63.91%.
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A number of research analysts have commented on the company. ValuEngine upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research note on Friday.
Middlesex Water Company Profile
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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