Two Sigma Investments LP Takes $829,000 Position in Middlesex Water (NASDAQ:MSEX)

Two Sigma Investments LP bought a new stake in Middlesex Water (NASDAQ:MSEX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,755 shares of the utilities provider's stock, valued at approximately $829,000. Two Sigma Investments LP owned 0.09% of Middlesex Water as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MSEX. T. Rowe Price Investment Management Inc. lifted its position in Middlesex Water by 9.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,471,404 shares of the utilities provider's stock worth $77,440,000 after purchasing an additional 126,732 shares during the period. Jane Street Group LLC increased its position in Middlesex Water by 751.4% during the 4th 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. JPMorgan Chase & Co. grew its position in shares of Middlesex Water by 187.2% during the 4th quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider's stock worth $4,871,000 after buying an additional 60,337 shares during the period. Hsbc Holdings PLC bought a new position in shares of Middlesex Water in the 4th quarter worth $2,619,000. Finally, Millennium Management LLC bought a new position in Middlesex Water during the 4th quarter valued at $2,224,000. Institutional investors own 79.52% of the company's stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have commented on MSEX shares. Baird R W raised 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 shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target for the company 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 report on Thursday, May 22nd. Finally, Janney Montgomery Scott upgraded shares of Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 price objective for the company in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $61.00.

Middlesex Water Stock Performance

MSEX opened at $56.06 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.50 and a beta of 0.88. The company's 50 day moving average is $60.15 and its 200 day moving average is $57.46. Middlesex Water has a 12-month low of $48.18 and a 12-month high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.53 earnings per share (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 the consensus estimate of $43.79 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. On average, equities research analysts predict that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 15th. Middlesex Water's dividend payout ratio is presently 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.

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