8,180 Shares in Middlesex Water Company $MSEX Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP acquired 8,180 shares of Middlesex Water Company (NASDAQ:MSEX) for approximately $524,000, highlighting growing institutional interest in the company.
• Recent analyst ratings show mixed views, with Janney Montgomery Scott upgrading Middlesex Water to a "buy" rating, while Wall Street Zen downgraded it to a "sell" rating.
• Middlesex Water announced a quarterly dividend of $0.34 per share, resulting in an annualized dividend of $1.36 and a yield of 2.5%, with an upcoming payment date set for September 2nd.

Quantbot Technologies LP purchased a new position in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,180 shares of the utilities provider's stock, valued at approximately $524,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSEX. CX Institutional bought a new position in shares of Middlesex Water during the 1st quarter worth $38,000. Nisa Investment Advisors LLC grew its position in shares of Middlesex Water by 128.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 662 shares of the utilities provider's stock worth $42,000 after buying an additional 372 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Middlesex Water during the 1st quarter worth $50,000. Meeder Asset Management Inc. bought a new position in shares of Middlesex Water during the 1st quarter worth $203,000. Finally, Crestwood Advisors Group LLC bought a new stake in Middlesex Water during the first quarter valued at about $208,000. Institutional investors own 79.52% of the company's stock.

Middlesex Water Price Performance

Shares of NASDAQ:MSEX traded down $0.28 during midday trading on Friday, reaching $53.54. 146,190 shares of the company's stock traded hands, compared to its average volume of 144,988. Middlesex Water Company has a 1 year low of $48.18 and a 1 year high of $70.73. The company has a market cap of $964.79 million, a P/E ratio of 22.12, a PEG ratio of 3.73 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.35 and a current ratio of 0.41. The company has a fifty day simple moving average of $53.92 and a two-hundred day simple moving average of $57.08.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). Middlesex Water had a return on equity of 9.67% and a net margin of 22.15%.The firm had revenue of $49.32 million for the quarter, compared to analysts' expectations of $52.60 million. Equities analysts predict that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 15th. Middlesex Water's payout ratio is 56.20%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MSEX. Janney Montgomery Scott raised Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 price objective on the stock in a research report on Monday, May 12th. Wall Street Zen downgraded Middlesex Water from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Middlesex Water has a consensus rating of "Moderate Buy" and an average price target of $61.00.

Middlesex Water 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.