Northern Trust Corp Buys 23,289 Shares of Middlesex Water (NASDAQ:MSEX)

Northern Trust Corp increased its stake in Middlesex Water (NASDAQ:MSEX - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,361 shares of the utilities provider's stock after buying an additional 23,289 shares during the quarter. Northern Trust Corp owned approximately 1.25% of Middlesex Water worth $11,755,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MSEX. T. Rowe Price Investment Management Inc. boosted its holdings 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 during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 last quarter. Hsbc Holdings PLC acquired a new stake in shares of Middlesex Water in the 4th quarter valued at approximately $2,619,000. Proficio Capital Partners LLC acquired a new stake in shares of Middlesex Water in the 4th quarter valued at approximately $1,595,000. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in Middlesex Water during the 4th quarter valued at $1,246,000. Institutional investors and hedge funds own 79.52% of the company's stock.

Middlesex Water Stock Performance

MSEX stock traded down $0.85 during trading hours on Thursday, hitting $57.17. 85,127 shares of the stock were exchanged, compared to its average volume of 131,683. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1.02 billion, a P/E ratio of 24.86, a P/E/G ratio of 1.50 and a beta of 0.88. The company has a 50-day simple moving average of $61.11 and a two-hundred day simple moving average of $58.24. Middlesex Water has a 12 month low of $48.18 and a 12 month high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $44.30 million for the quarter, compared to the consensus estimate of $43.79 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. On average, analysts forecast that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, May 15th. Middlesex Water's payout ratio is 56.43%.

Insiders Place Their Bets

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $60.05, for a total transaction of $244,223.35. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Janney Montgomery Scott raised Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 price target for the company in a report on Monday, May 12th. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target for the company in a report on Monday, March 3rd. Wall Street Zen downgraded Middlesex Water from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Baird R W raised Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.