SG Americas Securities LLC reduced its stake in shares of Middlesex Water (NASDAQ:MSEX – Get Rating) by 39.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,614 shares of the utilities provider’s stock after selling 10,946 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Middlesex Water worth $1,283,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Assenagon Asset Management S.A. bought a new stake in shares of Middlesex Water during the third quarter valued at about $1,060,000. Wipfli Financial Advisors LLC bought a new stake in Middlesex Water in the third quarter worth about $52,000. Raymond James & Associates bought a new stake in Middlesex Water in the third quarter worth about $222,000. Louisiana State Employees Retirement System bought a new stake in Middlesex Water in the third quarter worth about $648,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in Middlesex Water by 7.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,368 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 414 shares in the last quarter. 67.27% of the stock is currently owned by institutional investors.
Middlesex Water Price Performance
Shares of Middlesex Water stock opened at $81.81 on Tuesday. The company’s 50-day moving average price is $87.58 and its two-hundred day moving average price is $87.63. The company has a current ratio of 0.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.44 billion, a PE ratio of 34.23 and a beta of 0.71. Middlesex Water has a 52 week low of $74.20 and a 52 week high of $109.51.
Middlesex Water Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Wednesday, November 16th were issued a dividend of $0.313 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.53%. Middlesex Water’s payout ratio is 52.30%.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research report on Wednesday, November 30th.
Insider Activity at Middlesex Water
In other Middlesex Water news, VP Bernadette M. Sohler sold 2,200 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $92.03, for a total value of $202,466.00. Following the sale, the vice president now directly owns 3,373 shares in the company, valued at $310,417.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.92% of the stock is currently owned by corporate insiders.
Middlesex Water Profile
Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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.
- Get a free copy of the StockNews.com research report on Middlesex Water (MSEX)
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