Northstar Asset Management Inc. Purchases 17,723 Shares of Middlesex Water Company $MSEX

Northstar Asset Management Inc. lifted its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 52.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,795 shares of the utilities provider’s stock after acquiring an additional 17,723 shares during the period. Northstar Asset Management Inc. owned approximately 0.29% of Middlesex Water worth $2,803,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Middlesex Water by 483.5% in the 3rd quarter. Versant Capital Management Inc now owns 566 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 469 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Middlesex Water by 35.8% during the third quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock valued at $35,000 after buying an additional 170 shares during the last quarter. ST Germain D J Co. Inc. bought a new stake in Middlesex Water in the 2nd quarter worth about $72,000. CWM LLC raised its position in Middlesex Water by 31.6% in the 2nd quarter. CWM LLC now owns 1,742 shares of the utilities provider’s stock worth $94,000 after buying an additional 418 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Middlesex Water by 67.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,622 shares of the utilities provider’s stock worth $196,000 after buying an additional 1,453 shares during the last quarter. 79.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MSEX has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Middlesex Water in a research note on Wednesday, October 8th. Robert W. Baird dropped their target price on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, New Street Research set a $52.00 target price on shares of Middlesex Water in a research report on Friday, December 5th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.33.

Middlesex Water Trading Up 0.3%

MSEX stock opened at $53.48 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.42 and a quick ratio of 0.36. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $67.09. The business has a 50 day simple moving average of $51.71 and a two-hundred day simple moving average of $53.42. The company has a market capitalization of $980.82 million, a price-to-earnings ratio of 22.38, a PEG ratio of 3.46 and a beta of 0.87.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Friday, October 31st. The utilities provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.09). The company had revenue of $54.09 million during the quarter, compared to analysts’ expectations of $56.08 million. Middlesex Water had a return on equity of 9.38% and a net margin of 22.08%. Research analysts anticipate that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

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.