Thematics Asset Management Raises Holdings in Middlesex Water (NASDAQ:MSEX)

Thematics Asset Management lifted its holdings in Middlesex Water (NASDAQ:MSEX) by 5.8% in the 3rd quarter, Holdings Channel reports. The firm owned 181,000 shares of the utilities provider’s stock after acquiring an additional 10,000 shares during the period. Thematics Asset Management’s holdings in Middlesex Water were worth $11,808,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSEX. Louisiana State Employees Retirement System raised its position in Middlesex Water by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the utilities provider’s stock worth $470,000 after buying an additional 200 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings 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 during the last quarter. Squarepoint Ops LLC raised its holdings 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 during the last quarter. CWM LLC lifted its position in Middlesex Water by 65.1% during the second quarter. CWM LLC now owns 1,306 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 515 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Middlesex Water by 2.4% in the second quarter. Marshall Wace LLP now owns 24,685 shares of the utilities provider’s stock worth $1,290,000 after purchasing an additional 580 shares during the last quarter. 79.52% of the stock is owned by institutional investors.

Middlesex Water Stock Performance

NASDAQ MSEX traded up $1.38 during trading hours on Tuesday, hitting $67.88. 124,406 shares of the company’s stock traded hands, compared to its average volume of 131,883. Middlesex Water has a 52 week low of $45.42 and a 52 week high of $73.47. The firm has a market capitalization of $1.21 billion, a P/E ratio of 29.51 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. The business’s fifty day moving average price is $65.27 and its two-hundred day moving average price is $60.72.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.80 earnings per share (EPS) 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 firm had revenue of $55.10 million during the quarter, compared to the consensus estimate of $50.00 million. During the same quarter in the previous year, the firm posted $0.56 EPS. Equities research analysts predict that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.00%. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, November 15th. Middlesex Water’s dividend payout ratio is currently 59.13%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MSEX. Robert W. Baird increased their price target on Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Baird R W downgraded Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th.

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.