Stifel Financial Corp acquired a new stake in Middlesex Water (NASDAQ:MSEX) in the second quarter, according to its most recent filing with the SEC. The fund acquired 5,053 shares of the utilities provider’s stock, valued at approximately $339,000.

Other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in Middlesex Water in the 2nd quarter valued at approximately $25,000. Campbell Wealth Management purchased a new position in shares of Middlesex Water during the 2nd quarter valued at $94,000. Russell Investments Group Ltd. purchased a new position in shares of Middlesex Water during the 2nd quarter valued at $130,000. Tortoise Capital Advisors L.L.C. grew its position in shares of Middlesex Water by 103.2% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 2,658 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Middlesex Water by 58.5% during the 2nd quarter. Bank of Montreal Can now owns 2,782 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 1,027 shares in the last quarter. Institutional investors and hedge funds own 59.23% of the company’s stock.

NASDAQ MSEX opened at $63.42 on Friday. Middlesex Water has a 52-week low of $48.79 and a 52-week high of $72.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.46 and a current ratio of 0.52. The company has a market capitalization of $1.11 billion, a P/E ratio of 30.06 and a beta of 0.21. The company has a fifty day moving average of $63.95 and a 200-day moving average of $63.47.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Middlesex Water had a net margin of 26.57% and a return on equity of 11.60%. The company had revenue of $35.28 million during the quarter, compared to the consensus estimate of $35.00 million. As a group, analysts forecast that Middlesex Water will post 2.12 EPS for the current fiscal year.

A number of research firms have recently commented on MSEX. BidaskClub lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Zacks Investment Research upgraded shares of Middlesex Water from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.00.

In other news, VP Lorrie Beth Ginegaw sold 850 shares of Middlesex Water stock in a transaction on Friday, July 10th. The shares were sold at an average price of $63.11, for a total transaction of $53,643.50. Following the completion of the sale, the vice president now directly owns 5,154 shares of the company’s stock, valued at approximately $325,268.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.13% of the company’s stock.

About Middlesex Water

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.

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Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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