Middlesex Water (NASDAQ:MSEX) Shares Sold by KBC Group NV

KBC Group NV reduced its stake in Middlesex Water (NASDAQ:MSEX - Free Report) by 99.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 961 shares of the utilities provider's stock after selling 254,409 shares during the period. KBC Group NV's holdings in Middlesex Water were worth $51,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MSEX. Crestwood Advisors Group LLC bought a new stake in Middlesex Water in the third quarter worth $210,000. Wealth Enhancement Advisory Services LLC bought a new stake in Middlesex Water in the third quarter worth $225,000. Everence Capital Management Inc. bought a new stake in Middlesex Water in the third quarter worth $230,000. Victory Capital Management Inc. bought a new stake in Middlesex Water in the third quarter worth $230,000. Finally, Intech Investment Management LLC bought a new stake in Middlesex Water in the third quarter worth $271,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MSEX. Bank of America started coverage on Middlesex Water in a report on Wednesday, December 11th. They issued an "underperform" rating and a $56.00 target price on the stock. Robert W. Baird raised their price objective on Middlesex Water from $58.00 to $61.00 and gave the company a "neutral" rating in a research note on Friday, November 1st.

Middlesex Water Trading Down 0.4 %

MSEX traded down $0.20 during trading hours on Friday, reaching $50.50. The company's stock had a trading volume of 112,940 shares, compared to its average volume of 106,825. Middlesex Water has a fifty-two week low of $45.42 and a fifty-two week high of $70.73. The stock has a market cap of $901.43 million, a PE ratio of 21.96, a P/E/G ratio of 1.49 and a beta of 0.85. The business's 50-day moving average is $52.45 and its 200-day moving average is $60.08. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, February 18th. Middlesex Water's dividend payout ratio (DPR) is 59.13%.

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.