Aquatic Capital Management LLC acquired a new position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,130 shares of the utilities provider's stock, valued at approximately $428,000.
A number of other large investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Middlesex Water by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,471,404 shares of the utilities provider's stock valued at $77,440,000 after purchasing an additional 126,732 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Middlesex Water by 187.2% in the fourth quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider's stock valued at $4,871,000 after buying an additional 60,337 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Middlesex Water during the 4th quarter worth about $2,619,000. Proficio Capital Partners LLC acquired a new position in shares of Middlesex Water during the 4th quarter worth about $1,595,000. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Middlesex Water in the 4th quarter valued at about $1,246,000. 79.52% of the stock is currently owned by hedge funds and other institutional investors.
Middlesex Water Stock Performance
Shares of Middlesex Water stock opened at $60.36 on Friday. The firm's fifty day simple moving average is $61.26 and its 200-day simple moving average is $58.80. Middlesex Water has a 12 month low of $48.18 and a 12 month high of $70.73. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57.
Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The business had revenue of $44.30 million during the quarter, compared to analyst estimates of $43.79 million. As a group, equities analysts forecast that Middlesex Water will post 2.34 earnings per share for the current year.
Middlesex Water Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, May 15th. Middlesex Water's dividend payout ratio is presently 55.06%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on MSEX. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of Middlesex Water in a report on Friday, April 4th. StockNews.com upgraded shares of Middlesex Water from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Baird R W upgraded shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Robert W. Baird upgraded shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price objective for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $58.50.
Check Out Our Latest Stock Analysis on MSEX
Insiders Place Their Bets
In other news, Director Dennis W. Doll sold 4,067 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $60.05, for a total value of $244,223.35. Following the transaction, the director now owns 52,112 shares of the company's stock, valued at approximately $3,129,325.60. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.86% of the stock is owned by insiders.
Middlesex Water Profile
(
Free Report)
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.
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