13,730 Shares in Middlesex Water (NASDAQ:MSEX) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sterling Capital Management LLC boosted its position in Middlesex Water by 771.9% in the fourth 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised 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 valued at $27,000 after acquiring an additional 473 shares during the period. Allworth Financial LP boosted its holdings in Middlesex Water by 1,136.4% in the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after buying an additional 500 shares during the period. Crowley Wealth Management Inc. purchased a new position in Middlesex Water in the 4th quarter valued at approximately $37,000. Finally, Pictet Asset Management Holding SA raised its holdings in Middlesex Water by 31.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider's stock valued at $264,000 after acquiring an additional 1,192 shares during the period. Hedge funds and other institutional investors own 79.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MSEX shares. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price for the company in a report on Monday, March 3rd. StockNews.com raised Middlesex Water from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. 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, Baird R W raised Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Middlesex Water presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.00.

Insider Activity

In related news, Director Dennis W. Doll sold 4,067 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $60.05, for a total transaction of $244,223.35. Following the transaction, the director now owns 52,112 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.32% of the company's stock.

Middlesex Water Price Performance

Shares of MSEX stock traded down $0.19 during trading hours on Tuesday, hitting $58.93. 4,196 shares of the company's stock were exchanged, compared to its average volume of 131,371. Middlesex Water has a 12-month low of $48.18 and a 12-month high of $70.73. The company has a market capitalization of $1.06 billion, a PE ratio of 25.62, a PEG ratio of 1.50 and a beta of 0.88. The business's 50 day simple moving average is $61.33 and its 200-day simple moving average is $58.29. 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 issued its earnings results on Thursday, May 1st. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. The firm had revenue of $44.30 million during the quarter, compared to analysts' expectations of $43.79 million. On average, equities research analysts anticipate that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

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 2.31%. Middlesex Water's dividend payout ratio is currently 56.43%.

Middlesex Water Company 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.