TSP Capital Management Group LLC Has $5.75 Million Stock Holdings in Middlesex Water (NASDAQ:MSEX)

TSP Capital Management Group LLC lessened its holdings in Middlesex Water (NASDAQ:MSEX) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,288 shares of the utilities provider’s stock after selling 350 shares during the period. Middlesex Water makes up 2.0% of TSP Capital Management Group LLC’s portfolio, making the stock its 20th biggest position. TSP Capital Management Group LLC owned about 0.61% of Middlesex Water worth $5,752,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MSEX. Crestwood Advisors Group LLC bought a new stake in Middlesex Water during the third quarter worth about $210,000. Wealth Enhancement Advisory Services LLC bought a new stake in Middlesex Water during the third quarter worth about $225,000. Everence Capital Management Inc. bought a new stake in Middlesex Water during the third quarter worth about $230,000. Victory Capital Management Inc. bought a new stake in Middlesex Water during the third quarter worth about $230,000. Finally, Intech Investment Management LLC bought a new stake in Middlesex Water during the third quarter worth about $271,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Price Performance

MSEX opened at $50.70 on Friday. Middlesex Water has a one year low of $45.42 and a one year high of $70.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. The company’s 50 day simple moving average is $52.66 and its 200-day simple moving average is $60.18. The stock has a market capitalization of $905.00 million, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.49 and a beta of 0.85.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.36 annualized dividend and a dividend yield of 2.68%. Middlesex Water’s dividend payout ratio (DPR) is currently 59.13%.

Wall Street Analyst Weigh In

MSEX has been the topic of several research analyst reports. Bank of America initiated coverage on shares of Middlesex Water in a research note on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price objective on the stock. Robert W. Baird increased their price target on shares of Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, November 1st.

About Middlesex Water

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.