Centiva Capital LP Makes New $342,000 Investment in Middlesex Water (NASDAQ:MSEX)

Centiva Capital LP purchased a new position in Middlesex Water (NASDAQ:MSEX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,502 shares of the utilities provider's stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Oppenheimer & Co. Inc. boosted its stake in Middlesex Water by 1.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 19,863 shares of the utilities provider's stock worth $1,045,000 after purchasing an additional 202 shares during the period. Bank of Montreal Can boosted its stake in Middlesex Water by 3.5% in the 4th quarter. Bank of Montreal Can now owns 7,474 shares of the utilities provider's stock worth $393,000 after purchasing an additional 250 shares during the period. Sterling Capital Management LLC boosted its stake in Middlesex Water by 771.9% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock worth $26,000 after purchasing an additional 440 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Middlesex Water by 2.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,614 shares of the utilities provider's stock worth $1,081,000 after purchasing an additional 443 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Middlesex Water by 1,006.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider's stock worth $27,000 after purchasing an additional 473 shares during the period. 79.52% of the stock is currently owned by institutional investors.

Insider Activity at Middlesex Water

In related news, Director Dennis W. Doll sold 4,067 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $60.05, for a total transaction of $244,223.35. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com upgraded Middlesex Water from a "sell" rating to a "hold" rating in a research report on Wednesday. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Janney Montgomery Scott upgraded Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 target price for the company in a research report on Monday, May 12th. Finally, Robert W. Baird upgraded Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price for the company in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.00.

Middlesex Water Trading Up 2.3%

NASDAQ:MSEX traded up $1.32 during midday trading on Friday, hitting $58.42. 100,408 shares of the company traded hands, compared to its average volume of 132,074. The firm's fifty day moving average is $61.36 and its 200-day moving average is $58.35. Middlesex Water has a 12-month low of $48.18 and a 12-month high of $70.73. The firm has a market capitalization of $1.05 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.50 and a beta of 0.88. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The company had revenue of $44.30 million for the quarter, compared to analysts' expectations of $43.79 million. On average, sell-side analysts predict that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.33%. Middlesex Water's payout ratio is presently 56.43%.

Middlesex Water 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.