American Century Companies Inc. Purchases 11,402 Shares of Middlesex Water (NASDAQ:MSEX)

American Century Companies Inc. increased its position in Middlesex Water (NASDAQ:MSEX - Free Report) by 62.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,538 shares of the utilities provider's stock after acquiring an additional 11,402 shares during the quarter. American Century Companies Inc. owned about 0.17% of Middlesex Water worth $1,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MSEX. Allworth Financial LP increased its stake in shares of Middlesex Water by 1,136.4% in the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Middlesex Water by 20.8% during the fourth quarter. Inspire Investing LLC now owns 7,633 shares of the utilities provider's stock worth $402,000 after acquiring an additional 1,315 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Middlesex Water by 16.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,313 shares of the utilities provider's stock worth $438,000 after acquiring an additional 1,186 shares during the period. FMR LLC grew its position in shares of Middlesex Water by 9.7% in the third quarter. FMR LLC now owns 7,018 shares of the utilities provider's stock valued at $458,000 after purchasing an additional 618 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Middlesex Water during the 4th quarter worth about $522,000. 79.52% of the stock is currently owned by institutional investors.

Middlesex Water Trading Up 0.6 %

Shares of NASDAQ:MSEX traded up $0.40 on Tuesday, reaching $63.27. 10,160 shares of the company traded hands, compared to its average volume of 131,430. Middlesex Water has a 52 week low of $45.42 and a 52 week high of $70.73. 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 business's 50-day simple moving average is $57.99 and its 200 day simple moving average is $58.86. The stock has a market capitalization of $1.13 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.13. The firm had revenue of $47.11 million for the quarter, compared to analysts' expectations of $45.00 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. During the same quarter last year, the business earned $0.32 earnings per share. As a group, equities 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 was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Tuesday, February 18th. Middlesex Water's payout ratio is 55.06%.

Insiders Place Their Bets

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the business's 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 directly owns 52,112 shares of the company's stock, valued at approximately $3,129,325.60. The trade was a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.86% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MSEX shares. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Janney Montgomery Scott reiterated a "neutral" rating on shares of Middlesex Water in a research report on Friday, April 4th. StockNews.com lowered Middlesex Water from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Finally, Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price objective on the stock in a report on Monday, March 3rd. Two investment 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 company's stock. According to MarketBeat, Middlesex Water presently has an average rating of "Hold" and an average 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.