D. E. Shaw & Co. Inc. Boosts Holdings in Middlesex Water (NASDAQ:MSEX)

D. E. Shaw & Co. Inc. raised its position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 133.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,776 shares of the utilities provider's stock after purchasing an additional 9,013 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.09% of Middlesex Water worth $830,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in shares of Middlesex Water by 771.9% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 440 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Middlesex Water by 1,006.4% during the fourth 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 last quarter. Allworth Financial LP raised its stake in shares of Middlesex Water by 1,136.4% during the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Middlesex Water during the fourth quarter worth approximately $37,000. Finally, Pictet Asset Management Holding SA lifted its holdings 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 worth $264,000 after acquiring an additional 1,192 shares during the last quarter. Institutional investors own 79.52% of the company's stock.

Middlesex Water Trading Up 0.1%

Middlesex Water stock traded up $0.06 during trading hours on Thursday, reaching $57.50. The stock had a trading volume of 334,354 shares, compared to its average volume of 132,933. The company has a fifty day simple moving average of $60.84 and a 200-day simple moving average of $57.86. Middlesex Water has a 52 week low of $48.18 and a 52 week high of $70.73. The stock has a market cap of $1.03 billion, a PE ratio of 25.00, a PEG ratio of 1.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.53 EPS 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 business had revenue of $44.30 million for the quarter, compared to the consensus estimate of $43.79 million. 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 will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.37%. Middlesex Water's dividend payout ratio (DPR) is presently 56.43%.

Analyst Ratings Changes

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

Insider Transactions at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $60.05, for a total value of $244,223.35. Following the completion of the transaction, the director now owns 52,112 shares in the company, valued at $3,129,325.60. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.86% of the company's stock.

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.