First Trust Advisors LP Trims Position in Middlesex Water (NASDAQ:MSEX)

First Trust Advisors LP trimmed its holdings in Middlesex Water (NASDAQ:MSEXFree Report) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,214,004 shares of the utilities provider’s stock after selling 18,748 shares during the period. First Trust Advisors LP owned 6.82% of Middlesex Water worth $79,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Main Street Financial Solutions LLC raised its holdings in shares of Middlesex Water by 2.0% in the fourth quarter. Main Street Financial Solutions LLC now owns 10,447 shares of the utilities provider’s stock valued at $686,000 after buying an additional 200 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Middlesex Water by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 10,183 shares of the utilities provider’s stock valued at $668,000 after buying an additional 342 shares during the last quarter. Swiss National Bank raised its holdings in shares of Middlesex Water by 1.0% in the third quarter. Swiss National Bank now owns 38,862 shares of the utilities provider’s stock valued at $2,575,000 after buying an additional 400 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Middlesex Water by 2.8% in the fourth quarter. Cerity Partners LLC now owns 16,055 shares of the utilities provider’s stock valued at $1,054,000 after buying an additional 433 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Middlesex Water by 13.9% during the fourth quarter. Handelsbanken Fonder AB now owns 4,215 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 515 shares in the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MSEX shares. Robert W. Baird increased their price target on shares of Middlesex Water from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. StockNews.com raised shares of Middlesex Water to a “sell” rating in a report on Thursday, May 9th.

Get Our Latest Analysis on Middlesex Water

Insider Buying and Selling at Middlesex Water

In other Middlesex Water news, Director Walter G. Reinhard sold 857 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $57.16, for a total value of $48,986.12. Following the completion of the transaction, the director now directly owns 7,151 shares of the company’s stock, valued at $408,751.16. The sale was disclosed in a filing with the SEC, which is available at this link. 1.86% of the stock is currently owned by corporate insiders.

Middlesex Water Trading Up 0.2 %

NASDAQ MSEX opened at $53.96 on Thursday. The stock has a market capitalization of $962.11 million, a P/E ratio of 26.71 and a beta of 0.79. Middlesex Water has a 52-week low of $45.42 and a 52-week high of $84.38. The firm has a 50-day moving average price of $51.89 and a 200 day moving average price of $56.78. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.83.

Middlesex Water (NASDAQ:MSEXGet Free Report) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.14. Middlesex Water had a net margin of 21.55% and a return on equity of 8.64%. The company had revenue of $40.52 million during the quarter, compared to analysts’ expectations of $42.00 million. Equities research analysts expect that Middlesex Water will post 2.28 EPS for the current year.

Middlesex Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a $0.325 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.30 dividend on an annualized basis and a yield of 2.41%. Middlesex Water’s dividend payout ratio (DPR) is presently 64.36%.

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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Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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