Thematics Asset Management Buys 10,000 Shares of Middlesex Water (NASDAQ:MSEX)

Thematics Asset Management lifted its position in Middlesex Water (NASDAQ:MSEX) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 181,000 shares of the utilities provider’s stock after purchasing an additional 10,000 shares during the period. Thematics Asset Management owned about 1.01% of Middlesex Water worth $11,808,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MSEX. Jacobs Levy Equity Management Inc. bought a new position in shares of Middlesex Water during the first quarter valued at about $1,113,000. Duff & Phelps Investment Management Co. purchased a new position in Middlesex Water during the 2nd quarter valued at about $2,016,000. Bank of New York Mellon Corp raised its position in Middlesex Water by 12.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 219,119 shares of the utilities provider’s stock valued at $11,451,000 after purchasing an additional 24,400 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Middlesex Water in the 3rd quarter worth approximately $1,392,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Middlesex Water by 35.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 6,791 shares of the utilities provider’s stock worth $357,000 after buying an additional 1,790 shares during the period. 79.52% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Stock Up 2.1 %

MSEX traded up $1.38 during midday trading on Tuesday, reaching $67.88. The company’s stock had a trading volume of 124,406 shares, compared to its average volume of 131,883. Middlesex Water has a 1 year low of $45.42 and a 1 year high of $73.47. The stock’s 50-day moving average is $65.27 and its 200-day moving average is $60.72. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.51 and a beta of 0.79. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. The company had revenue of $55.10 million for the quarter, compared to the consensus estimate of $50.00 million. During the same quarter in the prior year, the business posted $0.56 EPS. As a group, research analysts expect that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.00%. This is an increase from Middlesex Water’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, November 15th. Middlesex Water’s dividend payout ratio is 59.13%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Baird R W cut shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Robert W. Baird raised their target price on 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.