Robert Hoglund Acquires 2,000 Shares of Middlesex Water (NASDAQ:MSEX) Stock

Middlesex Water Company (NASDAQ:MSEX) Director Robert Hoglund acquired 2,000 shares of Middlesex Water stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $54.31 per share, with a total value of $108,620.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at approximately $108,620. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Middlesex Water Trading Up 0.6%

NASDAQ:MSEX opened at $54.00 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.45 and a quick ratio of 0.36. Middlesex Water Company has a fifty-two week low of $44.17 and a fifty-two week high of $67.09. The stock’s 50-day moving average is $52.61 and its two-hundred day moving average is $53.35. The stock has a market cap of $1.00 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The business had revenue of $46.98 million during the quarter, compared to analyst estimates of $46.91 million. Middlesex Water had a net margin of 21.99% and a return on equity of 9.09%. As a group, equities research analysts forecast that Middlesex Water Company will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be given a $0.36 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. Middlesex Water’s dividend payout ratio is presently 61.02%.

Institutional Trading of Middlesex Water

Large investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of Middlesex Water by 4.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,699,403 shares of the utilities provider’s stock valued at $85,684,000 after acquiring an additional 66,174 shares during the last quarter. Invesco Ltd. boosted its position in Middlesex Water by 5.9% during the fourth quarter. Invesco Ltd. now owns 307,594 shares of the utilities provider’s stock worth $15,509,000 after purchasing an additional 17,261 shares during the period. Corient Private Wealth LLC boosted its position in Middlesex Water by 122.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,656 shares of the utilities provider’s stock worth $1,142,000 after purchasing an additional 12,476 shares during the period. Zimmer Partners LP grew its holdings in Middlesex Water by 18.8% during the fourth quarter. Zimmer Partners LP now owns 183,657 shares of the utilities provider’s stock valued at $9,260,000 after purchasing an additional 29,100 shares during the last quarter. Finally, Odyssean LLC bought a new position in shares of Middlesex Water in the fourth quarter valued at approximately $442,000. Institutional investors own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Middlesex Water in a research note on Thursday, January 22nd. New Street Research set a $52.00 target price on Middlesex Water in a research note on Friday, December 5th. Loop Capital set a $55.00 target price on Middlesex Water in a research report on Wednesday. Finally, Robert W. Baird reduced their price target on Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

About Middlesex Water

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.