Tower Research Capital LLC TRC grew its holdings in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 320.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,758 shares of the utilities provider's stock after purchasing an additional 5,150 shares during the period. Tower Research Capital LLC TRC's holdings in Middlesex Water were worth $356,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Barclays PLC raised its holdings in shares of 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 acquiring an additional 23,262 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Middlesex Water during the 4th quarter worth about $1,595,000. Principal Financial Group Inc. lifted its holdings in Middlesex Water by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 86,640 shares of the utilities provider's stock valued at $4,560,000 after purchasing an additional 2,544 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Middlesex Water during the fourth quarter worth about $379,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Middlesex Water in the fourth quarter valued at approximately $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 a number of analyst reports. Baird R W upgraded shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price objective for the company in a research report on Monday, March 3rd. Janney Montgomery Scott reiterated a "neutral" rating on shares of Middlesex Water in a research note on Friday, April 4th. Finally, StockNews.com raised Middlesex Water from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Middlesex Water currently has a consensus rating of "Hold" and a consensus target price of $58.50.
Check Out Our Latest Stock Analysis on MSEX
Insider Buying and Selling at Middlesex Water
In related news, Director Dennis W. Doll sold 4,067 shares of Middlesex Water stock in a transaction 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 transaction, the director now owns 52,112 shares in the company, valued at approximately $3,129,325.60. The trade was a 7.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.32% of the stock is currently owned by corporate insiders.
Middlesex Water Trading Down 3.9 %
Shares of MSEX traded down $2.43 during mid-day trading on Friday, reaching $60.36. The company had a trading volume of 243,353 shares, compared to its average volume of 132,442. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88. 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 fifty day simple moving average of $61.26 and a 200-day simple moving average of $58.69. Middlesex Water has a fifty-two week low of $48.18 and a fifty-two week 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 firm had revenue of $44.30 million for the quarter, compared to analysts' expectations of $43.79 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. On average, sell-side analysts anticipate that Middlesex Water will post 2.34 EPS for the current fiscal year.
Middlesex Water Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.25%. Middlesex Water's payout ratio is 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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