12,199 Shares in Middlesex Water (NASDAQ:MSEX) Purchased by DRW Securities LLC

DRW Securities LLC bought a new position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,199 shares of the utilities provider's stock, valued at approximately $642,000. DRW Securities LLC owned 0.07% of Middlesex Water as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Middlesex Water during the 4th quarter valued at $522,000. Bank of Montreal Can lifted its holdings in shares of Middlesex Water by 3.5% during the 4th quarter. Bank of Montreal Can now owns 7,474 shares of the utilities provider's stock worth $393,000 after acquiring an additional 250 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Middlesex Water by 11.3% during the 4th quarter. Russell Investments Group Ltd. now owns 7,991 shares of the utilities provider's stock worth $421,000 after acquiring an additional 813 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Middlesex Water in the fourth quarter valued at approximately $302,000. Finally, Wells Fargo & Company MN raised its position in Middlesex Water by 13.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,613 shares of the utilities provider's stock valued at $664,000 after purchasing an additional 1,522 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Insider Activity at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of Middlesex Water stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $60.05, for a total transaction of $244,223.35. Following the completion of the transaction, the director now directly owns 52,112 shares in the company, valued at $3,129,325.60. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.86% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MSEX has been the topic of several research analyst reports. 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 research note on Monday, March 3rd. Baird R W raised shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. StockNews.com cut shares of Middlesex Water from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Finally, Janney Montgomery Scott reiterated a "neutral" rating on shares of Middlesex Water in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $58.50.

Middlesex Water Trading Up 0.2 %

MSEX traded up $0.13 during trading on Tuesday, reaching $63.00. 25,608 shares of the company's stock were exchanged, compared to its average volume of 131,493. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. Middlesex Water has a one year low of $45.42 and a one year high of $70.73. The firm has a fifty day moving average price of $57.99 and a two-hundred day moving average price of $58.86. The stock has a market capitalization of $1.13 billion, a PE ratio of 27.39, 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 quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.13. The firm had revenue of $47.11 million for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $0.32 EPS. As a group, equities research analysts forecast that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.36 annualized dividend and a dividend yield of 2.16%. Middlesex Water's dividend payout ratio is presently 55.06%.

About Middlesex Water

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.