Dimensional Fund Advisors LP Sells 10,650 Shares of Middlesex Water (NASDAQ:MSEX)

Dimensional Fund Advisors LP lessened its stake in Middlesex Water (NASDAQ:MSEX - Free Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 429,580 shares of the utilities provider's stock after selling 10,650 shares during the quarter. Dimensional Fund Advisors LP owned about 2.41% of Middlesex Water worth $22,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in Middlesex Water by 771.9% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 440 shares in the last quarter. Allworth Financial LP increased its position in Middlesex Water by 1,136.4% in the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 473 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Middlesex Water in the 4th quarter valued at about $37,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Middlesex Water by 31.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider's stock valued at $264,000 after purchasing an additional 1,192 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Middlesex Water Trading Down 0.3%

Middlesex Water stock traded down $0.15 during midday trading on Monday, hitting $59.94. 10,960 shares of the stock were exchanged, compared to its average volume of 151,702. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. Middlesex Water has a 52 week low of $48.18 and a 52 week high of $70.73. The company has a fifty day simple moving average of $61.88 and a two-hundred day simple moving average of $58.54. The stock has a market capitalization of $1.07 billion, a PE ratio of 26.23, a P/E/G ratio of 1.50 and a beta of 0.88.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its quarterly 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). 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 during the quarter, compared to the consensus estimate of $43.79 million. Equities research analysts anticipate that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.27%. Middlesex Water's payout ratio is presently 56.43%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MSEX shares. StockNews.com lowered shares of Middlesex Water from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. 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 research note on Monday, March 3rd. Janney Montgomery Scott reissued a "neutral" rating on shares of Middlesex Water in a research note on Friday, April 4th. Finally, Baird R W raised shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $58.50.

Insider Transactions at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $60.05, for a total value of $244,223.35. Following the sale, the director now 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 SEC, which can be accessed through the SEC website. 1.32% of the stock is currently owned by insiders.

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.