Everence Capital Management Inc. Purchases Shares of 3,520 Middlesex Water (NASDAQ:MSEX)

Everence Capital Management Inc. purchased a new stake in Middlesex Water (NASDAQ:MSEX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,520 shares of the utilities provider’s stock, valued at approximately $230,000.

Several other large investors also recently made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Middlesex Water in the third quarter valued at approximately $1,392,000. GAMMA Investing LLC increased its stake in shares of Middlesex Water by 66.2% in the third quarter. GAMMA Investing LLC now owns 2,046 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 815 shares during the period. SG Americas Securities LLC increased its stake in shares of Middlesex Water by 479.7% in the third quarter. SG Americas Securities LLC now owns 23,366 shares of the utilities provider’s stock valued at $1,524,000 after purchasing an additional 19,335 shares during the period. Duff & Phelps Investment Management Co. acquired a new stake in shares of Middlesex Water in the second quarter valued at approximately $2,016,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Middlesex Water by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 9,280 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 767 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MSEX shares. Robert W. Baird lowered shares of Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research note on Monday, August 5th. Baird R W lowered shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 5th.

Middlesex Water Price Performance

NASDAQ MSEX opened at $64.66 on Wednesday. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $73.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.85. The firm has a market capitalization of $1.15 billion, a PE ratio of 32.01 and a beta of 0.79. The company’s 50 day simple moving average is $63.55 and its 200 day simple moving average is $57.91.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.05). The company had revenue of $49.15 million for 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%. As a group, equities research analysts forecast that Middlesex Water will post 2.21 EPS for the current fiscal year.

Middlesex Water Company 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.