Corient Private Wealth LP Takes $1.22 Million Position in Middlesex Water Company $MSEX

Corient Private Wealth LP bought a new stake in Middlesex Water Company (NASDAQ:MSEX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,752 shares of the utilities provider’s stock, valued at approximately $1,222,000.

A number of other institutional investors have also added to or reduced their stakes in MSEX. Renaissance Technologies LLC grew its holdings in shares of Middlesex Water by 13.8% during the 1st quarter. Renaissance Technologies LLC now owns 147,013 shares of the utilities provider’s stock worth $7,652,000 after purchasing an additional 17,800 shares in the last quarter. Legal & General Group Plc bought a new position in Middlesex Water in the second quarter worth $24,570,000. BlackRock Inc. acquired a new stake in Middlesex Water during the second quarter worth $176,031,000. Nuance Investments LLC bought a new stake in Middlesex Water in the 2nd quarter valued at $4,820,000. Finally, Jupiter Topco LLC bought a new stake in Middlesex Water in the 2nd quarter valued at $7,264,000. 79.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Middlesex Water

In other Middlesex Water news, VP Lorrie Ginegaw sold 615 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $57.61, for a total value of $35,430.15. Following the completion of the transaction, the vice president directly owned 3,978 shares of the company’s stock, valued at approximately $229,172.58. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.92% of the company’s stock.

Middlesex Water Price Performance

Middlesex Water stock opened at $58.26 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.50. The firm has a market cap of $1.10 billion, a P/E ratio of 22.49 and a beta of 0.74. The business’s fifty day moving average is $57.25 and its two-hundred day moving average is $54.29. Middlesex Water Company has a 52 week low of $44.17 and a 52 week high of $62.17.

Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Thursday, July 30th. The utilities provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Middlesex Water had a return on equity of 9.59% and a net margin of 23.26%.The company had revenue of $56.36 million during the quarter, compared to analyst estimates of $54.51 million.

Middlesex Water Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 17th. Middlesex Water’s dividend payout ratio (DPR) is presently 55.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MSEX shares. Robert W. Baird set a $66.00 price objective on shares of Middlesex Water in a report on Friday, July 31st. New Street Research set a $64.00 price target on shares of Middlesex Water in a research report on Thursday, July 9th. Weiss Ratings raised Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised Middlesex Water from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.67.

Middlesex Water Profile

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.