Aquatic Capital Management LLC Takes $428,000 Position in Middlesex Water (NASDAQ:MSEX)

Aquatic Capital Management LLC acquired a new position in Middlesex Water (NASDAQ:MSEX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,130 shares of the utilities provider's stock, valued at approximately $428,000.

A number of other institutional investors have also recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in shares of Middlesex Water by 771.9% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock worth $26,000 after acquiring an additional 440 shares in the last quarter. Allworth Financial LP boosted its holdings in Middlesex Water by 1,136.4% in the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Middlesex Water by 1,006.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider's stock worth $27,000 after buying an additional 473 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Middlesex Water in the fourth quarter valued at approximately $37,000. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Middlesex Water by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider's stock worth $264,000 after buying an additional 1,192 shares during the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Middlesex Water Trading Down 0.4 %

Shares of NASDAQ:MSEX traded down $0.24 during mid-day trading on Thursday, reaching $60.32. The stock had a trading volume of 13,047 shares, compared to its average volume of 153,421. Middlesex Water has a twelve month low of $48.18 and a twelve month high of $70.73. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.08 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88. The firm has a 50 day simple moving average of $61.83 and a two-hundred day simple moving average of $58.68.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.53 earnings per share (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. On average, research analysts predict that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a $0.34 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.25%. Middlesex Water's payout ratio is 56.43%.

Insider Activity at Middlesex Water

In related news, Director Dennis W. Doll sold 4,067 shares of the company's stock in a transaction dated Friday, March 21st. The shares were 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 in the company, valued at approximately $3,129,325.60. This represents a 7.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MSEX. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target on the stock in a research report on Monday, March 3rd. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of Middlesex Water in a research report on Friday, April 4th. Finally, StockNews.com cut Middlesex Water from a "hold" rating to a "sell" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Middlesex Water currently has an average rating of "Hold" and an average target price of $58.50.

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.