Middlesex Water (NASDAQ:MSEX) Short Interest Update

Middlesex Water (NASDAQ:MSEX) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 578,500 shares, a decline of 23.0% from the December 15th total of 751,200 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 117,800 shares, the days-to-cover ratio is presently 4.9 days.

Middlesex Water Stock Performance

Shares of MSEX traded down $0.47 during midday trading on Friday, hitting $51.06. 124,991 shares of the stock traded hands, compared to its average volume of 127,308. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $70.73. The business’s 50 day moving average price is $58.44 and its two-hundred day moving average price is $61.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a market capitalization of $911.42 million, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.45 and a beta of 0.85.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.56 earnings per share. Equities research analysts predict that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a dividend of $0.34 per share. This is a boost from Middlesex Water’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Friday, November 15th. Middlesex Water’s payout ratio is currently 59.13%.

Wall Street Analysts Forecast Growth

MSEX has been the subject of several analyst reports. Robert W. Baird boosted their price target 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. Bank of America initiated coverage on shares of Middlesex Water in a report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price target for the company.

Institutional Investors Weigh In On Middlesex Water

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its stake in shares of Middlesex Water by 5.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 4,236 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 201 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Middlesex Water by 4.7% during the second quarter. Squarepoint Ops LLC now owns 9,462 shares of the utilities provider’s stock valued at $494,000 after purchasing an additional 421 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Middlesex Water by 2.4% during the second quarter. Marshall Wace LLP now owns 24,685 shares of the utilities provider’s stock valued at $1,290,000 after purchasing an additional 580 shares in the last quarter. FMR LLC raised its position in Middlesex Water by 9.7% in the third quarter. FMR LLC now owns 7,018 shares of the utilities provider’s stock worth $458,000 after acquiring an additional 618 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Middlesex Water by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 9,280 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 767 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.

Middlesex Water Company Profile

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.