LPL Financial LLC Has $1.42 Million Holdings in Middlesex Water (NASDAQ:MSEX)

LPL Financial LLC increased its position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 19.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,921 shares of the utilities provider's stock after acquiring an additional 4,415 shares during the quarter. LPL Financial LLC owned about 0.15% of Middlesex Water worth $1,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MSEX. Allworth Financial LP boosted its stake in Middlesex Water by 1,136.4% during the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after acquiring an additional 500 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Middlesex Water during the fourth quarter worth $379,000. Inspire Investing LLC raised its holdings 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 during the period. Daiwa Securities Group Inc. lifted its position in Middlesex Water by 16.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,313 shares of the utilities provider's stock valued at $438,000 after acquiring an additional 1,186 shares in the last quarter. Finally, FMR LLC boosted its stake in Middlesex Water by 9.7% in the 3rd quarter. FMR LLC now owns 7,018 shares of the utilities provider's stock worth $458,000 after purchasing an additional 618 shares during the period. Institutional investors own 79.52% of the company's stock.

Insider Buying and Selling

In related news, Director Dennis W. Doll sold 4,067 shares of Middlesex Water stock in a transaction dated Friday, March 21st. The stock was 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 owns 52,112 shares in the company, valued at approximately $3,129,325.60. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.86% of the stock is currently owned by corporate insiders.

Middlesex Water Stock Down 1.1 %

Shares of NASDAQ MSEX traded down $0.68 during mid-day trading on Wednesday, hitting $62.58. The company had a trading volume of 20,707 shares, compared to its average volume of 156,983. The company has a market capitalization of $1.12 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80. The firm has a 50-day simple moving average of $59.50 and a two-hundred day simple moving average of $58.84. 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 $47.58 and a one year high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.13. The company 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 quarter last year, the company earned $0.32 EPS. On average, equities analysts expect that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Middlesex Water from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Janney Montgomery Scott reiterated a "neutral" rating on shares of Middlesex Water in a report on Friday, April 4th. Finally, Robert W. Baird upgraded Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Middlesex Water has a consensus rating of "Hold" and an average price target of $58.50.

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.