Bank of New York Mellon Corp Has $11.31 Million Stock Holdings in Middlesex Water (NASDAQ:MSEX)

Bank of New York Mellon Corp boosted its holdings in Middlesex Water (NASDAQ:MSEX - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,913 shares of the utilities provider's stock after acquiring an additional 6,983 shares during the quarter. Bank of New York Mellon Corp owned 1.20% of Middlesex Water worth $11,311,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Middlesex Water by 1,136.4% during the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 500 shares during the period. Victory Capital Management Inc. bought a new position in Middlesex Water during the 3rd quarter valued at about $230,000. Intech Investment Management LLC bought a new position in Middlesex Water during the 3rd quarter valued at about $271,000. Cable Hill Partners LLC acquired a new position in Middlesex Water in the third quarter valued at about $292,000. Finally, FMR LLC grew its stake in Middlesex Water by 9.7% during the third quarter. FMR LLC now owns 7,018 shares of the utilities provider's stock worth $458,000 after buying an additional 618 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Robert W. Baird upgraded shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price for the company in a research note on Monday, March 3rd. Bank of America assumed coverage on Middlesex Water in a research report on Wednesday, December 11th. They issued an "underperform" rating and a $56.00 price objective for the company. StockNews.com cut Middlesex Water from a "hold" rating to a "sell" rating in a report on Tuesday, March 11th. Finally, Baird R W raised Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd.

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Middlesex Water Trading Down 2.1 %

MSEX stock traded down $1.31 during trading on Monday, hitting $60.90. The company had a trading volume of 264,099 shares, compared to its average volume of 115,828. The firm has a 50-day moving average price of $52.71 and a 200-day moving average price of $59.21. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $70.73. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.50 and a beta of 0.85.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.13. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. The company had revenue of $47.11 million during the quarter, compared to the consensus estimate of $45.00 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, analysts predict that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, February 18th. Middlesex Water's dividend payout ratio (DPR) is currently 55.06%.

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.