Middlesex Water (NASDAQ:MSEX) Holdings Raised by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its holdings in Middlesex Water (NASDAQ:MSEX) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,863 shares of the utilities provider’s stock after acquiring an additional 202 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Middlesex Water were worth $1,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP raised its position in Middlesex Water by 1,136.4% in the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in Middlesex Water in the third quarter worth about $210,000. Wealth Enhancement Advisory Services LLC bought a new stake in Middlesex Water in the third quarter worth about $225,000. Victory Capital Management Inc. bought a new stake in Middlesex Water in the third quarter worth about $230,000. Finally, Intech Investment Management LLC bought a new stake in Middlesex Water in the third quarter worth about $271,000. 79.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MSEX has been the topic of several recent analyst reports. Baird R W upgraded Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday. Robert W. Baird upgraded Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price objective on the stock in a report on Monday. Bank of America initiated coverage on Middlesex Water in a report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price objective on the stock. Finally, StockNews.com upgraded Middlesex Water from a “sell” rating to a “hold” rating in a report on Monday.

Middlesex Water Trading Up 2.6 %

NASDAQ:MSEX opened at $59.52 on Wednesday. The stock has a market cap of $1.06 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85. Middlesex Water has a fifty-two week low of $45.42 and a fifty-two week high of $70.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. The stock’s 50-day moving average is $51.21 and its two-hundred day moving average is $59.17.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. The company had revenue of $47.11 million for the quarter, compared to the consensus estimate of $45.00 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, equities research analysts forecast that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.34 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a yield of 2.28%. Middlesex Water’s dividend payout ratio is currently 55.06%.

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.