Hsbc Holdings PLC bought a new position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 50,126 shares of the utilities provider's stock, valued at approximately $2,619,000. Hsbc Holdings PLC owned about 0.28% of Middlesex Water at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Middlesex Water by 187.2% in the 4th quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider's stock valued at $4,871,000 after buying an additional 60,337 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Middlesex Water in the fourth quarter valued at approximately $1,595,000. Jackson Creek Investment Advisors LLC bought a new position in Middlesex Water in the fourth quarter worth approximately $1,246,000. Barclays PLC grew its stake in Middlesex Water by 349.4% in 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 in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Middlesex Water during the 4th quarter worth $1,025,000. 79.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
MSEX has been the topic of several research reports. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Robert W. Baird upgraded Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price for the company in a report on Monday, March 3rd. StockNews.com raised Middlesex Water from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Janney Montgomery Scott reaffirmed a "neutral" rating on shares of Middlesex Water in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $58.50.
Check Out Our Latest Stock Analysis on MSEX
Insider Activity
In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the firm's 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 completion of the transaction, the director now directly owns 52,112 shares of the company's stock, valued at approximately $3,129,325.60. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.32% of the company's stock.
Middlesex Water Stock Up 2.1 %
Shares of MSEX traded up $1.28 during mid-day trading on Tuesday, hitting $61.11. 40,199 shares of the company traded hands, compared to its average volume of 132,025. The company has a market capitalization of $1.09 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $61.42 and a 200 day moving average of $58.65. Middlesex Water has a 1-year low of $48.18 and a 1-year high of $70.73.
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 (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The company had revenue of $44.30 million during the quarter, compared to analysts' expectations of $43.79 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. Equities research analysts anticipate that Middlesex Water will post 2.34 EPS for the current year.
Middlesex Water Announces Dividend
The company 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 dividend of $0.34 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.23%. Middlesex Water's payout ratio is presently 56.43%.
About Middlesex Water
(
Free Report)
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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