GAMMA Investing LLC Buys 136,989 Shares of Middlesex Water (NASDAQ:MSEX)

GAMMA Investing LLC lifted its holdings in Middlesex Water (NASDAQ:MSEX - Free Report) by 6,702.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 139,033 shares of the utilities provider's stock after purchasing an additional 136,989 shares during the quarter. GAMMA Investing LLC owned about 0.78% of Middlesex Water worth $8,912,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in shares of Middlesex Water by 771.9% in the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock valued at $26,000 after buying an additional 440 shares during the period. Allworth Financial LP lifted 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. lifted its position 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 in the last quarter. Crowley Wealth Management Inc. acquired a new position in Middlesex Water in the 4th quarter worth $37,000. Finally, Pictet Asset Management Holding SA increased 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 worth $264,000 after purchasing an additional 1,192 shares in the last quarter. 79.52% of the stock is owned by institutional investors.

Middlesex Water Stock Up 0.4%

Shares of Middlesex Water stock traded up $0.23 during trading hours on Monday, reaching $56.29. 77,354 shares of the company's stock were exchanged, compared to its average volume of 132,532. The stock has a market cap of $1.01 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.50 and a beta of 0.81. The company has a 50 day moving average of $60.15 and a two-hundred day moving average of $57.35. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. Middlesex Water has a fifty-two week low of $48.18 and a fifty-two week high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its quarterly 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). The company had revenue of $44.30 million for the quarter, compared to analyst estimates of $43.79 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. On average, sell-side analysts forecast that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Thursday, May 15th. Middlesex Water's payout ratio is presently 56.43%.

Wall Street Analyst Weigh In

MSEX has been the subject of several recent research reports. Wall Street Zen cut Middlesex Water from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target for the company in a research report on Monday, March 3rd. Finally, Janney Montgomery Scott upgraded shares of Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 price objective on the stock in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Middlesex Water presently has a consensus rating of "Hold" and an average target price of $61.00.

Insider Activity at Middlesex Water

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $60.05, for a total transaction of $244,223.35. Following the sale, the director now directly owns 52,112 shares of the company's stock, valued at approximately $3,129,325.60. This represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.32% of the stock is owned by company 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.