KBC Group NV Raises Stock Position in Middlesex Water (NASDAQ:MSEX)

KBC Group NV grew its position in Middlesex Water (NASDAQ:MSEX) by 0.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 255,370 shares of the utilities provider’s stock after purchasing an additional 355 shares during the period. KBC Group NV’s holdings in Middlesex Water were worth $16,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSEX. Pathway Financial Advisers LLC purchased a new position in Middlesex Water in the first quarter worth approximately $52,000. GAMMA Investing LLC grew its holdings in shares of Middlesex Water by 107.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,231 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 637 shares during the period. CWM LLC increased its position in shares of Middlesex Water by 65.1% during the 2nd quarter. CWM LLC now owns 1,306 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 515 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in Middlesex Water in the 3rd quarter valued at about $210,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Middlesex Water in the third quarter valued at about $225,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Baird R W cut shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Robert W. Baird lifted their target price on shares of Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, November 1st.

Middlesex Water Price Performance

MSEX opened at $66.98 on Friday. The stock’s 50-day moving average price is $64.98 and its 200 day moving average price is $60.09. Middlesex Water has a 12-month low of $45.42 and a 12-month high of $73.47. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 29.12 and a beta of 0.79. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The business had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $50.00 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. As a group, sell-side analysts expect that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, November 15th. This is a boost from Middlesex Water’s previous quarterly dividend of $0.33. Middlesex Water’s dividend payout ratio (DPR) is currently 56.52%.

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.