Tower Research Capital LLC TRC Raises Holdings in Middlesex Water (NASDAQ:MSEX)

Tower Research Capital LLC TRC boosted its stake in Middlesex Water (NASDAQ:MSEX - Free Report) by 320.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,758 shares of the utilities provider's stock after acquiring an additional 5,150 shares during the quarter. Tower Research Capital LLC TRC's holdings in Middlesex Water were worth $356,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of Middlesex Water by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 214,913 shares of the utilities provider's stock worth $11,311,000 after buying an additional 6,983 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Middlesex Water by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 172,472 shares of the utilities provider's stock valued at $9,077,000 after acquiring an additional 5,191 shares during the last quarter. Amundi lifted its stake in Middlesex Water by 7.4% in the 4th quarter. Amundi now owns 128,526 shares of the utilities provider's stock worth $6,470,000 after purchasing an additional 8,848 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Middlesex Water by 187.2% during the 4th quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider's stock worth $4,871,000 after purchasing an additional 60,337 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Middlesex Water by 3.0% in the fourth 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. Institutional investors and hedge funds own 79.52% of the company's stock.

Middlesex Water Trading Down 0.5 %

Shares of NASDAQ MSEX traded down $0.32 during trading on Wednesday, reaching $60.85. The stock had a trading volume of 3,656 shares, compared to its average volume of 131,925. The business's 50-day moving average price is $61.62 and its 200-day moving average price is $58.67. Middlesex Water has a fifty-two week low of $48.18 and a fifty-two week high of $70.73. 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 company has a market cap of $1.09 billion, a P/E ratio of 26.46, a PEG ratio of 1.50 and a beta of 0.88.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The business had revenue of $44.30 million during the quarter, compared to analysts' expectations of $43.79 million. On average, equities research analysts predict that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Thursday, May 15th. Middlesex Water's dividend payout ratio is currently 56.43%.

Insider Activity

In related news, Director Dennis W. Doll sold 4,067 shares of the company'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 sale, the director now directly owns 52,112 shares in the company, valued at approximately $3,129,325.60. This represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.32% of the company's stock.

Wall Street Analyst Weigh In

MSEX has been the topic of a number of recent research reports. Baird R W raised Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Janney Montgomery Scott restated a "neutral" rating on shares of Middlesex Water in a research report on Friday, April 4th. StockNews.com downgraded shares of Middlesex Water from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, Robert W. Baird upgraded Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price on the stock in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $58.50.

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.