Jane Street Group LLC Reduces Stock Holdings in Middlesex Water (NASDAQ:MSEX)

Jane Street Group LLC lowered its stake in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 83.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,751 shares of the utilities provider's stock after selling 55,584 shares during the period. Jane Street Group LLC owned 0.06% of Middlesex Water worth $701,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MSEX. GAMMA Investing LLC raised its holdings in Middlesex Water by 66.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,046 shares of the utilities provider's stock valued at $133,000 after acquiring an additional 815 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Middlesex Water in the third quarter valued at $210,000. Wealth Enhancement Advisory Services LLC acquired a new position in Middlesex Water in the third quarter valued at $225,000. Everence Capital Management Inc. purchased a new position in Middlesex Water during the third quarter worth about $230,000. Finally, Victory Capital Management Inc. acquired a new stake in Middlesex Water in the 3rd quarter worth about $230,000. Institutional investors and hedge funds own 79.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America started 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 for the company. Robert W. Baird increased their price target on shares of Middlesex Water from $58.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st.

Middlesex Water Trading Up 0.7 %

NASDAQ:MSEX traded up $0.35 on Friday, hitting $51.73. 163,673 shares of the stock were exchanged, compared to its average volume of 141,637. The stock has a fifty day moving average of $61.48 and a 200-day moving average of $61.50. The stock has a market cap of $923.64 million, a PE ratio of 22.49, a PEG ratio of 1.82 and a beta of 0.85. 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 fifty-two week low of $45.42 and a fifty-two week high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. The firm had revenue of $55.10 million during the quarter, compared to the consensus estimate of $50.00 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. During the same quarter in the prior year, the company earned $0.56 EPS. As a group, equities analysts expect that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a dividend of $0.34 per share. This is a positive change from Middlesex Water's previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 2.63%. Middlesex Water's payout ratio is presently 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.