Lorrie Beth Ginegaw Sells 620 Shares of Middlesex Water (NASDAQ:MSEX) Stock

Middlesex Water (NASDAQ:MSEXGet Rating) VP Lorrie Beth Ginegaw sold 620 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $80.34, for a total value of $49,810.80. Following the sale, the vice president now owns 155 shares of the company’s stock, valued at approximately $12,452.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Middlesex Water stock opened at $81.83 on Thursday. The stock has a market cap of $1.44 billion, a PE ratio of 34.67 and a beta of 0.58. The business has a fifty day simple moving average of $87.52 and a 200 day simple moving average of $97.87. The company has a quick ratio of 0.46, a current ratio of 0.55 and a debt-to-equity ratio of 0.81. Middlesex Water has a 12 month low of $75.77 and a 12 month high of $121.43.

Middlesex Water (NASDAQ:MSEXGet Rating) last announced its earnings results on Friday, April 29th. The utilities provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. The firm had revenue of $36.20 million during the quarter, compared to analyst estimates of $36.00 million. Middlesex Water had a net margin of 28.43% and a return on equity of 11.41%. Analysts expect that Middlesex Water will post 2.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.42%. Middlesex Water’s payout ratio is 49.15%.

A number of institutional investors have recently made changes to their positions in MSEX. Teachers Retirement System of The State of Kentucky grew its holdings in Middlesex Water by 8.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 4,400 shares of the utilities provider’s stock valued at $463,000 after buying an additional 345 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in Middlesex Water during the first quarter valued at approximately $255,000. Jane Street Group LLC raised its holdings in shares of Middlesex Water by 736.1% during the 1st quarter. Jane Street Group LLC now owns 29,615 shares of the utilities provider’s stock worth $3,115,000 after buying an additional 26,073 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Middlesex Water during the 1st quarter valued at approximately $254,000. Finally, Eaton Vance Management increased its holdings in shares of Middlesex Water by 44,565.5% during the first quarter. Eaton Vance Management now owns 66,105 shares of the utilities provider’s stock worth $6,953,000 after buying an additional 65,957 shares in the last quarter. 68.14% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on MSEX. TheStreet downgraded Middlesex Water from a “b” rating to a “c+” rating in a research note on Monday, March 28th. Robert W. Baird dropped their price objective on shares of Middlesex Water from $102.00 to $99.00 in a research note on Monday, May 2nd. Finally, StockNews.com raised Middlesex Water from a “sell” rating to a “hold” rating in a report on Thursday, May 12th.

Middlesex Water Company Profile (Get Rating)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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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Insider Buying and Selling by Quarter for Middlesex Water (NASDAQ:MSEX)

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