Exchange Traded Concepts LLC Purchases 27,038 Shares of Middlesex Water Company $MSEX

Exchange Traded Concepts LLC boosted its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 204.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,250 shares of the utilities provider’s stock after purchasing an additional 27,038 shares during the period. Exchange Traded Concepts LLC’s holdings in Middlesex Water were worth $2,178,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Middlesex Water during the first quarter valued at approximately $3,306,000. American Century Companies Inc. raised its holdings in Middlesex Water by 18.4% in the 1st quarter. American Century Companies Inc. now owns 34,985 shares of the utilities provider’s stock worth $2,243,000 after acquiring an additional 5,447 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Middlesex Water in the 1st quarter valued at approximately $3,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Middlesex Water by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider’s stock valued at $892,000 after purchasing an additional 1,058 shares during the last quarter. Finally, NFJ Investment Group LLC bought a new stake in shares of Middlesex Water in the 1st quarter worth $3,213,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MSEX. Robert W. Baird lowered their price target on Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Middlesex Water in a research report on Wednesday, October 8th. Finally, New Street Research set a $52.00 price target on shares of Middlesex Water in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $60.33.

Middlesex Water Stock Up 0.2%

Shares of MSEX stock opened at $51.72 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.73. Middlesex Water Company has a 12 month low of $44.17 and a 12 month high of $67.09. The stock has a market cap of $948.45 million, a P/E ratio of 21.64, a P/E/G ratio of 3.69 and a beta of 0.88. The company has a 50 day simple moving average of $53.47 and a two-hundred day simple moving average of $53.95.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Friday, October 31st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.09). The business had revenue of $54.09 million for the quarter, compared to the consensus estimate of $56.08 million. Middlesex Water had a net margin of 22.08% and a return on equity of 9.38%. On average, research analysts expect that Middlesex Water Company will post 2.34 earnings per share for the current year.

Middlesex Water Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $0.36 dividend. The ex-dividend date was Monday, November 17th. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 2.8%. Middlesex Water’s dividend payout ratio (DPR) is currently 60.25%.

Middlesex Water Company Profile

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.