Assenagon Asset Management S.A. Buys Shares of 13,731 Middlesex Water (NASDAQ:MSEX)

Assenagon Asset Management S.A. bought a new stake in shares of Middlesex Water (NASDAQ:MSEXGet Rating) during the third quarter, Holdings Channel reports. The fund bought 13,731 shares of the utilities provider’s stock, valued at approximately $1,060,000.

A number of other institutional investors have also added to or reduced their stakes in MSEX. Bank of New York Mellon Corp increased its position in Middlesex Water by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 191,533 shares of the utilities provider’s stock valued at $20,144,000 after purchasing an additional 500 shares during the period. American Century Companies Inc. purchased a new position in shares of Middlesex Water in the 1st quarter worth approximately $740,000. Citigroup Inc. grew its position in shares of Middlesex Water by 17.4% in the 1st quarter. Citigroup Inc. now owns 17,760 shares of the utilities provider’s stock worth $1,867,000 after buying an additional 2,627 shares during the last quarter. Bank of Montreal Can grew its position in shares of Middlesex Water by 2.1% in the 1st quarter. Bank of Montreal Can now owns 6,060 shares of the utilities provider’s stock worth $645,000 after buying an additional 125 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Middlesex Water by 57.2% in the 1st quarter. MetLife Investment Management LLC now owns 9,417 shares of the utilities provider’s stock worth $990,000 after buying an additional 3,426 shares during the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.

Middlesex Water Stock Up 0.6 %

Shares of Middlesex Water stock opened at $81.81 on Friday. The firm’s 50 day moving average price is $87.68 and its 200-day moving average price is $87.66. The company has a quick ratio of 0.38, a current ratio of 0.45 and a debt-to-equity ratio of 0.76. Middlesex Water has a 52-week low of $74.20 and a 52-week high of $109.51. The company has a market cap of $1.44 billion, a P/E ratio of 34.23 and a beta of 0.71.

Middlesex Water (NASDAQ:MSEXGet Rating) last released its earnings results on Friday, October 28th. The utilities provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.08). The company had revenue of $47.73 million during the quarter, compared to analyst estimates of $47.00 million. Middlesex Water had a return on equity of 11.12% and a net margin of 26.96%. On average, sell-side analysts predict that Middlesex Water will post 2.29 EPS for the current fiscal year.

Middlesex Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Wednesday, November 16th were paid a $0.313 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This is a boost from Middlesex Water’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a yield of 1.53%. Middlesex Water’s dividend payout ratio (DPR) is 52.30%.

Insider Buying and Selling

In related news, VP Bernadette M. Sohler sold 2,200 shares of Middlesex Water stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $92.03, for a total value of $202,466.00. Following the completion of the sale, the vice president now directly owns 3,373 shares in the company, valued at approximately $310,417.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research report on Wednesday, November 30th.

Middlesex Water Company Profile

(Get Rating)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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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Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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