Penn Capital Management Company LLC Buys 11,251 Shares of Middlesex Water Company $MSEX

Penn Capital Management Company LLC raised its stake in shares of Middlesex Water Company (NASDAQ:MSEX) by 28.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 50,956 shares of the utilities provider’s stock after purchasing an additional 11,251 shares during the period. Penn Capital Management Company LLC owned 0.28% of Middlesex Water worth $2,569,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Legal & General Group Plc grew its holdings in Middlesex Water by 2.3% during the fourth quarter. Legal & General Group Plc now owns 388,546 shares of the utilities provider’s stock valued at $19,590,000 after purchasing an additional 8,784 shares during the period. Abacus Wealth Partners LLC bought a new position in shares of Middlesex Water in the fourth quarter worth about $609,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Middlesex Water by 5.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,214 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 200 shares during the period. International Assets Investment Management LLC bought a new position in shares of Middlesex Water in the fourth quarter worth about $128,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Middlesex Water by 2.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 27,366 shares of the utilities provider’s stock worth $1,380,000 after acquiring an additional 601 shares during the period. 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 MSEX shares. Loop Capital set a $55.00 price objective on Middlesex Water in a research note on Wednesday, February 25th. Weiss Ratings lowered Middlesex Water from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Middlesex Water presently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

Middlesex Water Stock Performance

NASDAQ MSEX opened at $52.08 on Wednesday. The firm has a market cap of $969.94 million, a price-to-earnings ratio of 21.70 and a beta of 0.78. The company has a quick ratio of 0.32, a current ratio of 0.39 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $52.12 and a 200-day moving average price of $52.29. Middlesex Water Company has a twelve month low of $44.17 and a twelve month high of $62.17.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $48.71 million during the quarter, compared to analyst estimates of $49.75 million. Middlesex Water had a return on equity of 9.08% and a net margin of 22.07%.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, May 15th. Middlesex Water’s payout ratio is currently 60.00%.

Insider Activity at Middlesex Water

In other news, Director Robert N. Hoglund bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $108,620. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.92% of the company’s stock.

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.