JPMorgan Chase & Co. Has $4.87 Million Holdings in Middlesex Water (NASDAQ:MSEX)

JPMorgan Chase & Co. grew its holdings in Middlesex Water (NASDAQ:MSEX - Free Report) by 187.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,560 shares of the utilities provider's stock after acquiring an additional 60,337 shares during the quarter. JPMorgan Chase & Co. owned 0.52% of Middlesex Water worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. grew its position in Middlesex Water by 1.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 19,863 shares of the utilities provider's stock worth $1,045,000 after buying an additional 202 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Middlesex Water by 1,006.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 473 shares in the last quarter. Allworth Financial LP raised its position in Middlesex Water by 1,136.4% in the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after purchasing an additional 500 shares in the last quarter. FMR LLC lifted its stake in Middlesex Water by 9.7% during the third 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. Finally, Crowley Wealth Management Inc. bought a new position in Middlesex Water during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 79.52% of the company's stock.

Insider Activity

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the business's 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 sale, the director now directly owns 52,112 shares of the company's stock, valued at approximately $3,129,325.60. The trade was a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Middlesex Water Price Performance

Shares of Middlesex Water stock traded down $1.14 during trading on Wednesday, reaching $62.12. The company's stock had a trading volume of 85,269 shares, compared to its average volume of 130,817. The stock has a 50-day moving average price of $59.50 and a two-hundred day moving average price of $58.84. The stock has a market capitalization of $1.11 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80. 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 earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The company had revenue of $47.11 million during the quarter, compared to the consensus estimate of $45.00 million. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, sell-side analysts anticipate that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.19%. Middlesex Water's payout ratio is currently 55.06%.

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.