Middlesex Water (NASDAQ:MSEX) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Middlesex Water Company (NASDAQ:MSEX) saw unusually-strong trading volume on Thursday . 496,305 shares were traded during mid-day trading, an increase of 237% from the previous session’s volume of 147,172 shares.The stock last traded at $53.75 and had previously closed at $54.84.

Analyst Ratings Changes

MSEX has been the topic of several recent analyst reports. Wall Street Zen upgraded Middlesex Water from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. New Street Research set a $64.00 target price on shares of Middlesex Water in a report on Thursday. Finally, Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Middlesex Water presently has an average rating of “Moderate Buy” and an average target price of $60.67.

Middlesex Water Stock Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of 22.92 and a beta of 0.78. The stock has a 50 day simple moving average of $53.02 and a two-hundred day simple moving average of $52.78. The company has a quick ratio of 0.32, a current ratio of 0.39 and a debt-to-equity ratio of 0.74.

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

Middlesex Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 15th. Middlesex Water’s payout ratio is 60.00%.

Hedge Funds Weigh In On Middlesex Water

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. lifted its position in Middlesex Water by 1.8% during the second quarter. Raymond James Financial Inc. now owns 10,691 shares of the utilities provider’s stock worth $579,000 after acquiring an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position 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 valued at $212,000 after purchasing an additional 200 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Middlesex Water by 4.4% during the first quarter. Janney Montgomery Scott LLC now owns 4,836 shares of the utilities provider’s stock worth $252,000 after purchasing an additional 202 shares during the period. The Manufacturers Life Insurance Company increased its position in Middlesex Water by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,602 shares of the utilities provider’s stock worth $358,000 after buying an additional 208 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Middlesex Water by 68.6% during the first quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock worth $27,000 after buying an additional 212 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

About Middlesex Water

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.