Oppenheimer & Co. Inc. lowered its stake in Middlesex Water (NASDAQ:MSEX – Free Report) by 7.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,979 shares of the utilities provider’s stock after selling 1,328 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.10% of Middlesex Water worth $1,125,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Illinois Municipal Retirement Fund bought a new position in shares of Middlesex Water during the third quarter worth approximately $707,000. Assenagon Asset Management S.A. bought a new position in shares of Middlesex Water during the third quarter worth approximately $1,638,000. Victory Capital Management Inc. increased its holdings in shares of Middlesex Water by 34.8% during the third quarter. Victory Capital Management Inc. now owns 9,344 shares of the utilities provider’s stock worth $619,000 after purchasing an additional 2,411 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Middlesex Water by 138.3% during the third quarter. Daiwa Securities Group Inc. now owns 2,903 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,685 shares during the period. Finally, TIAA Trust National Association bought a new position in shares of Middlesex Water during the third quarter worth approximately $242,000. Institutional investors and hedge funds own 70.52% of the company’s stock.
Middlesex Water Price Performance
MSEX stock opened at $54.29 on Thursday. The firm has a market cap of $966.90 million, a price-to-earnings ratio of 29.51 and a beta of 0.77. The company has a quick ratio of 1.07, a current ratio of 1.12 and a debt-to-equity ratio of 0.84. Middlesex Water has a 12-month low of $54.17 and a 12-month high of $89.43. The company’s fifty day simple moving average is $63.24 and its 200 day simple moving average is $68.17.
Middlesex Water Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.325 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.30 annualized dividend and a yield of 2.39%. Middlesex Water’s payout ratio is 70.65%.
Wall Street Analyst Weigh In
Separately, TheStreet cut shares of Middlesex Water from a “b-” rating to a “c+” rating in a report on Friday, October 20th.
Insider Activity at Middlesex Water
In other Middlesex Water news, Director James F. Jr. Cosgrove sold 1,352 shares of Middlesex Water stock in a transaction on Monday, December 11th. The shares were sold at an average price of $66.83, for a total value of $90,354.16. Following the completion of the sale, the director now directly owns 7,742 shares of the company’s stock, valued at $517,397.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.86% of the stock is owned by company insiders.
About Middlesex Water
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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