Middlesex Water (NASDAQ:MSEX) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in Middlesex Water (NASDAQ:MSEX - Free Report) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,391 shares of the utilities provider's stock after selling 28,891 shares during the period. Invesco Ltd. owned 1.43% of Middlesex Water worth $13,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Middlesex Water by 1,006.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 473 shares during the period. Allworth Financial LP grew its position in Middlesex Water by 1,136.4% in the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock valued at $27,000 after buying an additional 500 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in Middlesex Water in the 4th quarter valued at $37,000. Pictet Asset Management Holding SA increased its stake in Middlesex Water by 31.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider's stock valued at $264,000 after buying an additional 1,192 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Middlesex Water during the 4th quarter worth $302,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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 price target on the stock in a research note on Monday, March 3rd. Janney Montgomery Scott restated a "neutral" rating on shares of Middlesex Water in a research note on Friday, April 4th. StockNews.com upgraded Middlesex Water from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Baird R W upgraded shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Middlesex Water has an average rating of "Hold" and an average price target of $58.50.

Middlesex Water Price Performance

Shares of MSEX stock traded down $0.58 during midday trading on Wednesday, reaching $62.68. 191,513 shares of the company traded hands, compared to its average volume of 131,386. The firm's 50 day simple moving average is $59.74 and its two-hundred day simple moving average is $58.86. The firm has a market cap of $1.12 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. Middlesex Water has a 1-year low of $47.58 and a 1-year high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $45.00 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, equities research analysts expect that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.36 annualized dividend and a yield of 2.17%. Middlesex Water's dividend payout ratio (DPR) is currently 55.06%.

Middlesex Water 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.