Shares of Middlesex Water (NASDAQ:MSEX) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus price objective of $46.00 for the company and are expecting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Middlesex Water an industry rank of 172 out of 265 based on the ratings given to related companies.
Several research firms recently weighed in on MSEX. Zacks Investment Research downgraded shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. BidaskClub downgraded shares of Middlesex Water from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.2238 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.90 annualized dividend and a yield of 2.45%. Middlesex Water’s dividend payout ratio (DPR) is presently 71.20%.
In related news, VP A Bruce Oconnor sold 4,000 shares of Middlesex Water stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $43.83, for a total value of $175,320.00. Following the completion of the sale, the vice president now owns 16,803 shares in the company, valued at approximately $736,475.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bernadette M. Sohler sold 1,000 shares of Middlesex Water stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $45.19, for a total transaction of $45,190.00. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Middlesex Water in the fourth quarter worth $107,000. BB&T Investment Services Inc. acquired a new position in shares of Middlesex Water in the second quarter worth $119,000. Legal & General Group Plc grew its stake in shares of Middlesex Water by 4.1% in the second quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock worth $162,000 after acquiring an additional 161 shares in the last quarter. Creative Planning grew its stake in shares of Middlesex Water by 23.1% in the fourth quarter. Creative Planning now owns 7,284 shares of the utilities provider’s stock worth $291,000 after acquiring an additional 1,369 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Middlesex Water by 14.7% in the second quarter. Voya Investment Management LLC now owns 8,397 shares of the utilities provider’s stock worth $333,000 after acquiring an additional 1,076 shares in the last quarter. Institutional investors and hedge funds own 49.95% of the company’s stock.
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About Middlesex Water
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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