Middlesex Water (NASDAQ:MSEX) Director Dennis W. Doll Sells 4,067 Shares

Middlesex Water (NASDAQ:MSEX - Get Free Report) Director Dennis W. Doll sold 4,067 shares of Middlesex Water stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $60.05, for a total value of $244,223.35. Following the transaction, the director now owns 52,112 shares of the company's stock, valued at approximately $3,129,325.60. This represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Middlesex Water Price Performance

MSEX traded up $1.61 during midday trading on Friday, hitting $63.56. 135,818 shares of the company traded hands, compared to its average volume of 129,311. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.50 and a beta of 0.85. The business has a 50 day simple moving average of $54.60 and a two-hundred day simple moving average of $59.12. 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 52-week low of $45.42 and a 52-week high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted 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. 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 for the quarter, compared to analysts' expectations of $45.00 million. During the same period in the previous year, the firm posted $0.32 EPS. On average, equities analysts forecast that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

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Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.14%. The ex-dividend date was Tuesday, February 18th. Middlesex Water's dividend payout ratio is currently 55.06%.

Institutional Investors Weigh In On Middlesex Water

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Middlesex Water by 15.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,873 shares of the utilities provider's stock worth $2,993,000 after buying an additional 7,562 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Middlesex Water by 119.0% in the 4th quarter. Squarepoint Ops LLC now owns 25,373 shares of the utilities provider's stock valued at $1,335,000 after acquiring an additional 13,786 shares during the last quarter. Two Sigma Investments LP purchased a new position in Middlesex Water in the 4th quarter worth approximately $829,000. ProShare Advisors LLC boosted its holdings in shares of Middlesex Water by 13.5% during the 4th quarter. ProShare Advisors LLC now owns 133,629 shares of the utilities provider's stock worth $7,033,000 after purchasing an additional 15,878 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Middlesex Water in the fourth quarter valued at approximately $2,224,000. Institutional investors and hedge funds own 79.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MSEX. Bank of America assumed coverage on shares of Middlesex Water in a research note on Wednesday, December 11th. They set an "underperform" rating and a $56.00 price objective on the stock. StockNews.com raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a report on Wednesday, March 19th. Robert W. Baird raised shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price on the stock in a research note on Monday, March 3rd. Finally, Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd.

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.