First Trust Advisors LP Trims Stock Position in Middlesex Water (NASDAQ:MSEX)

First Trust Advisors LP lowered its position in Middlesex Water (NASDAQ:MSEX - Free Report) by 64.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,013 shares of the utilities provider's stock after selling 702,509 shares during the period. First Trust Advisors LP owned about 2.18% of Middlesex Water worth $20,526,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Middlesex Water by 187.2% during the 4th quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider's stock valued at $4,871,000 after acquiring an additional 60,337 shares during the period. Proficio Capital Partners LLC purchased a new stake in Middlesex Water during the 4th quarter worth about $1,595,000. Jackson Creek Investment Advisors LLC bought a new position in Middlesex Water in the 4th quarter worth about $1,246,000. Barclays PLC grew its holdings in Middlesex Water by 349.4% during the 3rd quarter. Barclays PLC now owns 29,919 shares of the utilities provider's stock valued at $1,952,000 after buying an additional 23,262 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Middlesex Water in the fourth quarter worth about $1,025,000. 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 dated Friday, March 21st. The shares were sold at an average price of $60.05, for a total transaction of $244,223.35. Following the completion of the sale, the director now directly owns 52,112 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.86% of the company's stock.

Middlesex Water Price Performance

MSEX traded down $3.42 during midday trading on Friday, hitting $59.38. The stock had a trading volume of 60,445 shares, compared to its average volume of 131,391. The company has a market cap of $1.06 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80. Middlesex Water has a 1 year low of $48.18 and a 1 year high of $70.73. The business has a fifty day moving average of $61.10 and a 200 day moving average of $58.83. 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 posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. The business had revenue of $44.30 million during the quarter, compared to the consensus estimate of $43.79 million. As a group, equities analysts forecast that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 2.29%. Middlesex Water's dividend payout ratio (DPR) is currently 55.06%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MSEX. Janney Montgomery Scott reiterated a "neutral" rating on shares of Middlesex Water in a research note on Friday, April 4th. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Robert W. Baird raised shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price on the stock in a research note on Monday, March 3rd. Finally, StockNews.com raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Middlesex Water currently has a consensus rating of "Hold" and an average target price of $58.50.

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.