Cubist Systematic Strategies LLC Purchases Shares of 13,730 Middlesex Water (NASDAQ:MSEX)

Cubist Systematic Strategies LLC acquired a new stake in shares of Middlesex Water (NASDAQ:MSEX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,730 shares of the utilities provider's stock, valued at approximately $723,000. Cubist Systematic Strategies LLC owned approximately 0.08% of Middlesex Water at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Centiva Capital LP bought a new position in shares of Middlesex Water during the 4th quarter worth approximately $342,000. Balyasny Asset Management L.P. raised its stake in Middlesex Water by 120.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 7,332 shares of the utilities provider's stock worth $386,000 after acquiring an additional 4,002 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Middlesex Water by 41.1% during the fourth quarter. Bank of America Corp DE now owns 57,260 shares of the utilities provider's stock valued at $3,014,000 after acquiring an additional 16,665 shares during the period. Jane Street Group LLC boosted its stake in shares of Middlesex Water by 751.4% in the 4th quarter. Jane Street Group LLC now owns 91,530 shares of the utilities provider's stock valued at $4,817,000 after purchasing an additional 80,779 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Middlesex Water by 11.6% in the 4th quarter. Northern Trust Corp now owns 223,361 shares of the utilities provider's stock valued at $11,755,000 after purchasing an additional 23,289 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.

Middlesex Water Price Performance

NASDAQ MSEX traded up $1.32 on Friday, hitting $58.42. 100,408 shares of the company were exchanged, compared to its average volume of 132,074. Middlesex Water has a 1-year low of $48.18 and a 1-year high of $70.73. The firm has a 50 day moving average of $61.36 and a two-hundred day moving average of $58.35. 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 company has a market cap 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.

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

Middlesex Water Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MSEX. Baird R W raised shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Janney Montgomery Scott raised shares of Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 price objective for the company in a report on Monday, May 12th. StockNews.com upgraded shares of Middlesex Water from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price on the stock in a 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 company's stock. According to MarketBeat.com, Middlesex Water presently has a consensus rating of "Moderate Buy" and an average target price of $61.00.

Insider Buying and Selling at Middlesex Water

In related news, Director Dennis W. Doll sold 4,067 shares of Middlesex Water 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 completion of the sale, the director now directly owns 52,112 shares of the company's stock, valued at $3,129,325.60. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.32% of the company's stock.

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.