Middlesex Water (NASDAQ:MSEX) Short Interest Down 15.0% in February

Middlesex Water (NASDAQ:MSEX) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 408,700 shares, a drop of 15.0% from the February 13th total of 480,900 shares. Based on an average daily volume of 140,500 shares, the short-interest ratio is currently 2.9 days. Approximately 2.4% of the shares of the stock are sold short.

Middlesex Water Price Performance

Shares of NASDAQ MSEX traded down $0.91 during mid-day trading on Wednesday, hitting $59.95. 37,893 shares of the company’s stock traded hands, compared to its average volume of 115,631. The company has a market capitalization of $1.07 billion, a P/E ratio of 26.04, a PEG ratio of 1.50 and a beta of 0.85. Middlesex Water has a 1 year low of $45.42 and a 1 year high of $70.73. The company’s 50-day moving average is $53.12 and its two-hundred day moving average is $59.18. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The firm had revenue of $47.11 million for the quarter, compared to the consensus estimate of $45.00 million. During the same period last year, the firm earned $0.32 earnings per share. On average, equities analysts anticipate that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.36 annualized dividend and a dividend yield of 2.27%. Middlesex Water’s dividend payout ratio (DPR) is 55.06%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MSEX. StockNews.com raised Middlesex Water from a “sell” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird upgraded shares of Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 target price for the company in a report on Monday, March 3rd. Bank of America initiated coverage on shares of Middlesex Water in a report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price objective for the company. Finally, Baird R W raised shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Hedge Funds Weigh In On Middlesex Water

A number of institutional investors have recently bought and sold shares of MSEX. Barclays PLC grew its holdings in shares of Middlesex Water by 349.4% in the third quarter. Barclays PLC now owns 29,919 shares of the utilities provider’s stock valued at $1,952,000 after purchasing an additional 23,262 shares in the last quarter. State Street Corp raised its position in Middlesex Water by 7.0% in the 3rd quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock valued at $53,070,000 after purchasing an additional 53,098 shares during the last quarter. Geode Capital Management LLC raised its position in Middlesex Water by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 434,559 shares of the utilities provider’s stock worth $28,356,000 after buying an additional 3,430 shares during the last quarter. Principal Financial Group Inc. raised its position in Middlesex Water by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 86,640 shares of the utilities provider’s stock worth $4,560,000 after buying an additional 2,544 shares during the last quarter. Finally, FMR LLC raised its position in Middlesex Water by 9.7% during the 3rd quarter. FMR LLC now owns 7,018 shares of the utilities provider’s stock worth $458,000 after buying an additional 618 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Company Profile

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.