AUS
NZ
UK
CA
USA
IND
Highlights
- Allworth Financial LP increased its investment in Middlesex Water (NASDAQ:MSEX) by 1,136.4% in the fourth quarter.
- Several other institutional investors and hedge funds have also augmented their stakes in Middlesex Water.
- Middlesex Water recently announced a quarterly dividend with a yield of 2.63%.
In a significant move, Allworth Financial LP has dramatically increased its investment in Middlesex Water (NASDAQ:MSEX), boosting its shares by an outstanding 1,136.4% during the fourth quarter. The institutional investor now owns 544 shares, a significant increase from the prior count, as shown in the latest 13F filing with the Securities and Exchange Commission (SEC). The holdings were valued at approximately $27,000 at the quarter's end.
Numerous other institutional investors and hedge funds have followed suit in augmenting their stakes in Middlesex Water. Notably, Creative Financial Designs Inc. ADV increased its holdings by 5.0% in the third quarter, raising its ownership to 4,236 shares valued at $276,000. Meanwhile, FMR LLC achieved a 9.7% rise in its stake during the same period. Additionally, Inspire Investing LLC and Cerity Partners LLC also made substantial upgrades to their portfolios during the fourth and third quarters, respectively.
Stock Performance and Dividend Announcement
Middlesex Water's stock opened at $51.80, moving within a fifty-two-week range of $45.42 to $70.73. The company currently maintains a debt-to-equity ratio of 0.80, a quick ratio of 0.57, and a current ratio of 0.65. It boasts a market capitalization of $924.89 million with a P/E ratio of 22.52. Recently, Middlesex Water declared a quarterly dividend, at $0.34 per share, culminating in an annualized dividend of $1.36, yielding 2.63% for its investors.
Analyst Ratings and Company Profile
Analyst perspectives on Middlesex Water have shown varying ratings. Robert W. Baird adjusted the price target for Middlesex Water, raising it from $58.00 to $61.00. Concurrently, Bank of America initiated coverage by setting a target price of $56.00.
Middlesex Water Company operates both regulated and non-regulated segments, specializing in water utility and wastewater systems within New Jersey and Delaware. The company's regulated segment focuses on collecting, treating, and distributing water to diverse customer categories.
