IQ EQ FUND MANAGEMENT IRELAND Ltd Buys New Position in Middlesex Water (NASDAQ:MSEX)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Middlesex Water (NASDAQ:MSEX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,333 shares of the utilities provider's stock, valued at approximately $1,392,000. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.12% of Middlesex Water as of its most recent SEC filing.

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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Middlesex Water by 290.8% during the first quarter. GAMMA Investing LLC now owns 594 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 442 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in Middlesex Water in the first quarter worth $52,000. CWM LLC boosted its holdings in Middlesex Water by 65.1% in the second quarter. CWM LLC now owns 1,306 shares of the utilities provider's stock worth $68,000 after acquiring an additional 515 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Middlesex Water in the fourth quarter worth $221,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Middlesex Water during the first quarter valued at $266,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MSEX has been the topic of several recent analyst reports. Baird R W downgraded shares of Middlesex Water from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 5th. Robert W. Baird cut shares of Middlesex Water from an "outperform" rating to a "neutral" rating and set a $58.00 price target on the stock. in a report on Monday, August 5th.

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Get Our Latest Stock Analysis on MSEX

Middlesex Water Stock Down 0.5 %

Shares of MSEX stock traded down $0.30 during mid-day trading on Friday, hitting $65.63. The company's stock had a trading volume of 141,844 shares, compared to its average volume of 138,032. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 32.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 0.90. Middlesex Water has a 52-week low of $45.42 and a 52-week high of $73.47. The business has a 50-day moving average price of $63.45 and a 200 day moving average price of $57.68.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.05). The business had revenue of $49.15 million during the quarter, compared to the consensus estimate of $47.00 million. Middlesex Water had a return on equity of 8.69% and a net margin of 21.14%. Research analysts predict that Middlesex Water will post 2.21 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.325 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.30 annualized dividend and a dividend yield of 1.98%. Middlesex Water's payout ratio is 64.36%.

Middlesex Water Profile

(Free Report)

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.

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