UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 7,562 Shares of Middlesex Water (NASDAQ:MSEX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,873 shares of the utilities provider's stock after acquiring an additional 7,562 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.32% of Middlesex Water worth $2,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in Middlesex Water by 771.9% in the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock worth $26,000 after buying an additional 440 shares in the last quarter. Allworth Financial LP raised its stake in Middlesex Water by 1,136.4% in the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after buying an additional 500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Middlesex Water by 1,006.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider's stock worth $27,000 after buying an additional 473 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in Middlesex Water in the fourth quarter worth about $37,000. Finally, Pictet Asset Management Holding SA raised its stake in Middlesex Water by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider's stock worth $264,000 after buying an additional 1,192 shares in the last quarter. 79.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of the stock in a transaction that occurred 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 owns 52,112 shares in the company, valued at $3,129,325.60. This represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.32% of the company's stock.

Middlesex Water Price Performance

Shares of NASDAQ MSEX opened at $56.20 on Friday. Middlesex Water has a fifty-two week low of $48.18 and a fifty-two week high of $70.73. The company has a 50 day simple moving average of $60.31 and a two-hundred day simple moving average of $57.53. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 1.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.53 earnings per share 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 expect that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, May 15th. Middlesex Water's dividend payout ratio is 56.43%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MSEX shares. Janney Montgomery Scott raised shares of Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 price target for the company in a research note on Monday, May 12th. Robert W. Baird raised shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target for the company in a research note on Monday, March 3rd. Baird R W raised shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of Middlesex Water from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Two equities 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. Based on data from MarketBeat, Middlesex Water currently has an average rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.