Alpha Cubed Investments LLC Purchases New Holdings in Middlesex Water (NASDAQ:MSEX)

Alpha Cubed Investments LLC acquired a new position in Middlesex Water (NASDAQ:MSEX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,840 shares of the utilities provider’s stock, valued at approximately $252,000.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Middlesex Water by 36.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,786 shares of the utilities provider’s stock valued at $251,000 after purchasing an additional 1,015 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Middlesex Water in the 3rd quarter valued at $308,000. TIAA Trust National Association acquired a new position in shares of Middlesex Water in the 3rd quarter valued at $242,000. Daiwa Securities Group Inc. lifted its holdings in shares of Middlesex Water by 138.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,903 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 1,685 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Middlesex Water by 34.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,344 shares of the utilities provider’s stock valued at $619,000 after acquiring an additional 2,411 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Price Performance

Shares of MSEX stock opened at $52.00 on Thursday. The stock’s fifty day simple moving average is $50.23 and its 200 day simple moving average is $58.47. Middlesex Water has a one year low of $45.42 and a one year high of $84.38. The firm has a market cap of $926.12 million, a price-to-earnings ratio of 29.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.05 and a quick ratio of 0.98.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, February 29th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.14). Middlesex Water had a net margin of 18.96% and a return on equity of 7.61%. The company had revenue of $38.60 million for the quarter, compared to the consensus estimate of $41.00 million. On average, analysts expect that Middlesex Water will post 2.28 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a $0.325 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.30 dividend on an annualized basis and a yield of 2.50%. Middlesex Water’s dividend payout ratio (DPR) is presently 73.86%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their price target on shares of Middlesex Water from $69.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, March 1st.

Insider Buying and Selling at Middlesex Water

In other news, Director James F. Jr. Cosgrove acquired 1,600 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $51.70 per share, with a total value of $82,720.00. Following the completion of the acquisition, the director now owns 9,342 shares in the company, valued at approximately $482,981.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.86% of the company’s stock.

Middlesex Water 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.