Charles Schwab Investment Management Inc. Has $9.08 Million Stock Position in Middlesex Water (NASDAQ:MSEX)

Charles Schwab Investment Management Inc. grew its stake in shares of Middlesex Water (NASDAQ:MSEX) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,472 shares of the utilities provider’s stock after purchasing an additional 5,191 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Middlesex Water were worth $9,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of Middlesex Water in the 4th quarter worth about $1,595,000. Oppenheimer & Co. Inc. raised its holdings in shares of Middlesex Water by 1.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 19,863 shares of the utilities provider’s stock worth $1,045,000 after acquiring an additional 202 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Middlesex Water by 10.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 10,513 shares of the utilities provider’s stock worth $553,000 after acquiring an additional 1,009 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Middlesex Water by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 214,913 shares of the utilities provider’s stock worth $11,311,000 after acquiring an additional 6,983 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Middlesex Water by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 86,640 shares of the utilities provider’s stock worth $4,560,000 after acquiring an additional 2,544 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Baird R W upgraded shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. StockNews.com upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Wednesday. Robert W. Baird upgraded shares of Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 target price on the stock in a report on Monday, March 3rd. Finally, Bank of America began coverage on shares of Middlesex Water in a research report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price objective for the company.

Middlesex Water Trading Up 0.9 %

Shares of MSEX stock opened at $59.97 on Friday. Middlesex Water has a 52-week low of $45.42 and a 52-week high of $70.73. 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 company has a 50-day simple moving average of $53.72 and a two-hundred day simple moving average of $59.14. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.50 and a beta of 0.85.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 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 $47.11 million during the quarter, compared to the consensus estimate of $45.00 million. During the same period in the prior year, the firm posted $0.32 EPS. Research analysts anticipate that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, February 18th. Middlesex Water’s dividend payout ratio is currently 55.06%.

Middlesex Water 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.