Middlesex Water (NASDAQ:MSEX) Given New $61.00 Price Target at Robert W. Baird

Middlesex Water (NASDAQ:MSEX) had its price objective lifted by Robert W. Baird from $58.00 to $61.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Separately, Baird R W lowered Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th.

Middlesex Water Stock Up 6.7 %

MSEX opened at $65.27 on Friday. The stock’s 50 day moving average price is $64.03 and its 200 day moving average price is $58.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.85. The stock has a market cap of $1.16 billion, a P/E ratio of 28.38 and a beta of 0.79. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $73.47.

Middlesex Water Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, November 15th. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.33. Middlesex Water’s dividend payout ratio (DPR) is currently 56.52%.

Institutional Investors Weigh In On Middlesex Water

A number of institutional investors have recently added to or reduced their stakes in MSEX. Pathway Financial Advisers LLC bought a new stake in shares of Middlesex Water in the 1st quarter worth $52,000. GAMMA Investing LLC raised its position in Middlesex Water by 107.2% in the second quarter. GAMMA Investing LLC now owns 1,231 shares of the utilities provider’s stock worth $64,000 after acquiring an additional 637 shares in the last quarter. CWM LLC lifted its holdings in Middlesex Water by 65.1% in the 2nd quarter. CWM LLC now owns 1,306 shares of the utilities provider’s stock valued at $68,000 after acquiring an additional 515 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Middlesex Water during the 3rd quarter valued at about $210,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Middlesex Water during the 3rd quarter valued at about $225,000. 79.52% of the stock is currently owned by institutional investors and hedge funds.

About Middlesex Water

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.