Deutsche Bank AG Acquires 5,140 Shares of Middlesex Water (NASDAQ:MSEX)

Deutsche Bank AG lifted its stake in Middlesex Water (NASDAQ:MSEX - Free Report) by 42.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,214 shares of the utilities provider's stock after acquiring an additional 5,140 shares during the quarter. Deutsche Bank AG owned 0.10% of Middlesex Water worth $906,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Middlesex Water in the 4th quarter valued at $723,000. Centiva Capital LP purchased a new position in Middlesex Water during the 4th quarter worth $342,000. Balyasny Asset Management L.P. lifted its stake in shares of Middlesex Water by 120.2% in the 4th 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 during the period. Bank of America Corp DE raised its position in 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 worth $3,014,000 after acquiring an additional 16,665 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Middlesex Water by 751.4% in the fourth 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 during the period. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Baird R W raised shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Wall Street Zen lowered shares of Middlesex Water from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Janney Montgomery Scott upgraded shares of 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 shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price objective for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Middlesex Water currently has a consensus rating of "Hold" and an average price target of $61.00.

Insider Activity

In other news, Director Dennis W. Doll sold 4,067 shares of the firm'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 completion of the transaction, the director now directly owns 52,112 shares of the company's stock, valued at approximately $3,129,325.60. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.86% of the company's stock.

Middlesex Water Trading Up 1.2%

Shares of MSEX traded up $0.71 during midday trading on Friday, hitting $58.21. The stock had a trading volume of 217,012 shares, compared to its average volume of 133,237. Middlesex Water has a fifty-two week low of $48.18 and a fifty-two week high of $70.73. The business has a 50-day simple moving average of $60.79 and a two-hundred day simple moving average of $57.73. The firm has a market cap of $1.04 billion, a P/E ratio of 25.31, a price-to-earnings-growth 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 posted its quarterly earnings results 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). The company had revenue of $44.30 million during the quarter, compared to analysts' expectations of $43.79 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. As a group, equities analysts forecast that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Announces Dividend

The company also recently declared 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, May 15th. Middlesex Water's dividend payout ratio is 56.43%.

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.