Jane Street Group LLC Acquires 80,779 Shares of Middlesex Water (NASDAQ:MSEX)

Jane Street Group LLC boosted its holdings in Middlesex Water (NASDAQ:MSEX - Free Report) by 751.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,530 shares of the utilities provider's stock after purchasing an additional 80,779 shares during the quarter. Jane Street Group LLC owned 0.51% of Middlesex Water worth $4,817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp increased its stake in Middlesex Water by 11.6% during the 4th quarter. Northern Trust Corp now owns 223,361 shares of the utilities provider's stock worth $11,755,000 after acquiring an additional 23,289 shares during the period. Aquatic Capital Management LLC bought a new position in Middlesex Water in the 4th quarter valued at about $428,000. T. Rowe Price Investment Management Inc. raised its position in shares of Middlesex Water by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,471,404 shares of the utilities provider's stock valued at $77,440,000 after buying an additional 126,732 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Middlesex Water by 6.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,713 shares of the utilities provider's stock worth $1,091,000 after acquiring an additional 1,228 shares during the period. Finally, Hsbc Holdings PLC bought a new position in Middlesex Water in the fourth quarter valued at approximately $2,619,000. Institutional investors and hedge funds own 79.52% of the company's stock.

Wall Street Analysts Forecast Growth

MSEX has been the subject of several recent analyst reports. Janney Montgomery Scott restated a "neutral" rating on shares of Middlesex Water in a research report on Friday, April 4th. Baird R W raised shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. StockNews.com downgraded shares of Middlesex Water from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, Robert W. Baird upgraded 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. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Middlesex Water currently has a consensus rating of "Hold" and an average target price of $58.50.

Middlesex Water Price Performance

MSEX stock opened at $60.09 on Friday. 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 has a 52-week low of $48.18 and a 52-week high of $70.73. The company has a market capitalization of $1.08 billion, a P/E ratio of 26.13, a PEG ratio of 1.50 and a beta of 0.88. The company has a fifty day moving average price of $61.88 and a 200-day moving average price of $58.57.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.53 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 analyst estimates of $43.79 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. As a group, equities analysts expect that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Dividend Announcement

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 issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.26%. Middlesex Water's payout ratio is 56.43%.

Insider Transactions at Middlesex Water

In related news, Director Dennis W. Doll sold 4,067 shares of the business's stock in a transaction on 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 owns 52,112 shares in the company, valued at $3,129,325.60. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.32% of the company's stock.

Middlesex Water Company 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.

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