13,111 Shares in Middlesex Water (NASDAQ:MSEX) Bought by Franklin Resources Inc.

Franklin Resources Inc. purchased a new stake in Middlesex Water (NASDAQ:MSEX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,111 shares of the utilities provider's stock, valued at approximately $690,000. Franklin Resources Inc. owned approximately 0.07% of Middlesex Water at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in Middlesex Water by 349.4% during the third quarter. Barclays PLC now owns 29,919 shares of the utilities provider's stock worth $1,952,000 after purchasing an additional 23,262 shares during the last quarter. State Street Corp grew its holdings in shares of Middlesex Water by 7.0% during the third quarter. State Street Corp now owns 813,455 shares of the utilities provider's stock worth $53,070,000 after purchasing an additional 53,098 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Middlesex Water by 0.8% during the third quarter. Geode Capital Management LLC now owns 434,559 shares of the utilities provider's stock worth $28,356,000 after purchasing an additional 3,430 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Middlesex Water in the 4th quarter valued at about $1,595,000. Finally, FMR LLC boosted its position in shares of Middlesex Water by 9.7% in the 3rd quarter. FMR LLC now owns 7,018 shares of the utilities provider's stock valued at $458,000 after purchasing an additional 618 shares during the period. 79.52% of the stock is owned by hedge funds and other 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.86% of the stock is owned by corporate insiders.

Middlesex Water Stock Performance

Middlesex Water stock traded up $0.77 during trading hours on Tuesday, reaching $63.26. 115,990 shares of the stock were exchanged, compared to its average volume of 130,987. Middlesex Water has a 52-week low of $47.58 and a 52-week high of $70.73. The stock has a market cap of $1.13 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. The firm's 50 day moving average is $59.50 and its 200 day moving average is $58.84.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The firm had revenue of $47.11 million during the quarter, compared to analysts' expectations of $45.00 million. During the same period in the prior year, the company posted $0.32 earnings per share. Analysts predict that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Tuesday, February 18th. Middlesex Water's dividend payout ratio is presently 55.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MSEX shares. StockNews.com upgraded Middlesex Water from a "sell" rating to a "hold" rating in a research note on Friday. 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 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 report on Monday, March 3rd. Finally, Janney Montgomery Scott reiterated a "neutral" rating on shares of Middlesex Water in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.