Shares of Middlesex Water (NASDAQ:MSEX) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus price objective of $46.00 for the company and are predicting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also given Middlesex Water an industry rank of 196 out of 265 based on the ratings given to its competitors.
MSEX has been the subject of a number of recent analyst reports. BidaskClub cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a research report on Thursday, December 21st. Zacks Investment Research cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.2238 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, February 14th. Middlesex Water’s dividend payout ratio is presently 71.20%.
In related news, 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 value of $45,190.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $175,320.00. Following the completion of the transaction, the vice president now owns 16,803 shares of the company’s stock, valued at approximately $736,475.49. The disclosure for this sale can be found here. 3.48% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its holdings in shares of Middlesex Water by 24.9% in the second quarter. Ameriprise Financial Inc. now owns 13,550 shares of the utilities provider’s stock valued at $536,000 after purchasing an additional 2,698 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Middlesex Water by 60.8% in the second quarter. Goldman Sachs Group Inc. now owns 24,722 shares of the utilities provider’s stock valued at $979,000 after purchasing an additional 9,348 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Middlesex Water by 11.4% in the third quarter. First Trust Advisors LP now owns 93,110 shares of the utilities provider’s stock valued at $3,656,000 after purchasing an additional 9,555 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Middlesex Water by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 586,412 shares of the utilities provider’s stock valued at $23,029,000 after purchasing an additional 19,647 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Middlesex Water by 1.9% in the second quarter. Northern Trust Corp now owns 229,701 shares of the utilities provider’s stock valued at $9,097,000 after purchasing an additional 4,209 shares in the last quarter. Hedge funds and other institutional investors own 49.97% of the company’s stock.
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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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