IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $1.39 Million in Middlesex Water (NASDAQ:MSEX)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Middlesex Water (NASDAQ:MSEX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,333 shares of the utilities provider’s stock, valued at approximately $1,392,000. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.12% of Middlesex Water as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MSEX. GAMMA Investing LLC raised its position in shares of Middlesex Water by 290.8% in the 1st quarter. GAMMA Investing LLC now owns 594 shares of the utilities provider’s stock valued at $31,000 after buying an additional 442 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in shares of Middlesex Water in the 1st quarter valued at $52,000. CWM LLC raised its holdings in shares of Middlesex Water by 65.1% during the 2nd quarter. CWM LLC now owns 1,306 shares of the utilities provider’s stock worth $68,000 after buying an additional 515 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Middlesex Water during the 4th quarter worth $221,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Middlesex Water in the first quarter valued at about $266,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Price Performance

Shares of MSEX opened at $65.93 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.18 billion, a PE ratio of 32.64 and a beta of 0.79. Middlesex Water has a 12-month low of $45.42 and a 12-month high of $73.47. The business has a 50-day simple moving average of $63.35 and a two-hundred day simple moving average of $57.58.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.05). The firm had revenue of $49.15 million during the quarter, compared to analyst estimates of $47.00 million. Middlesex Water had a net margin of 21.14% and a return on equity of 8.69%. Analysts anticipate that Middlesex Water will post 2.21 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Thursday, August 15th. Middlesex Water’s payout ratio is currently 64.36%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MSEX. Robert W. Baird downgraded Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 target price for the company. in a research note on Monday, August 5th. Baird R W cut shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a research 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.