Middlesex Water Company (NASDAQ:MSEX) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 169,910 shares, a growth of 3.4% from the May 15th total of 164,372 shares. Based on an average daily volume of 51,253 shares, the days-to-cover ratio is presently 3.3 days.
Middlesex Water Company (NASDAQ:MSEX) opened at 40.50 on Friday. Middlesex Water Company has a 52 week low of $32.23 and a 52 week high of $44.48. The firm has a market capitalization of $660.27 million, a P/E ratio of 29.80 and a beta of 0.42. The stock has a 50 day moving average price of $36.27 and a 200-day moving average price of $37.98.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were issued a dividend of $0.2113 per share. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.09%. Middlesex Water Company’s dividend payout ratio is currently 62.50%.
In other news, Director Walter G. Reinhard sold 1,200 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $36.14, for a total value of $43,368.00. Following the transaction, the director now directly owns 81 shares of the company’s stock, valued at approximately $2,927.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.48% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of MSEX. Russell Investments Group Ltd. purchased a new stake in Middlesex Water Company during the first quarter worth $235,000. Private Advisor Group LLC bought a new stake in shares of Middlesex Water Company during the fourth quarter valued at approximately $262,000. Bank of Montreal Can raised its stake in shares of Middlesex Water Company by 19.7% in the first quarter. Bank of Montreal Can now owns 6,643 shares of the utilities provider’s stock valued at $245,000 after buying an additional 1,094 shares during the period. Summit Global Investments bought a new stake in shares of Middlesex Water Company during the fourth quarter valued at approximately $386,000. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in shares of Middlesex Water Company during the first quarter valued at approximately $334,000. Institutional investors own 49.06% of the company’s stock.
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About Middlesex Water Company
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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