Texas Permanent School Fund Corp Has $1.26 Million Stake in Middlesex Water (NASDAQ:MSEX)

Texas Permanent School Fund Corp decreased its stake in shares of Middlesex Water (NASDAQ:MSEX) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,561 shares of the utilities provider’s stock after selling 258 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Middlesex Water were worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Creative Planning acquired a new stake in shares of Middlesex Water during the 2nd quarter worth approximately $205,000. Bank of New York Mellon Corp grew its position in shares of Middlesex Water by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 203,674 shares of the utilities provider’s stock worth $15,911,000 after buying an additional 2,406 shares during the period. SG Americas Securities LLC grew its position in shares of Middlesex Water by 133.5% during the 1st quarter. SG Americas Securities LLC now owns 16,227 shares of the utilities provider’s stock worth $1,268,000 after buying an additional 9,277 shares during the period. KBC Group NV grew its position in shares of Middlesex Water by 3.0% during the 2nd quarter. KBC Group NV now owns 219,683 shares of the utilities provider’s stock worth $17,720,000 after buying an additional 6,434 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Middlesex Water by 22.0% during the 1st quarter. ProShare Advisors LLC now owns 128,042 shares of the utilities provider’s stock worth $10,003,000 after buying an additional 23,132 shares during the period. Institutional investors and hedge funds own 70.52% of the company’s stock.

Middlesex Water Stock Performance

NASDAQ MSEX opened at $65.63 on Friday. The company has a fifty day simple moving average of $66.38 and a 200 day simple moving average of $74.54. Middlesex Water has a 12-month low of $61.34 and a 12-month high of $95.82. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.17 billion, a P/E ratio of 35.67 and a beta of 0.75.

Middlesex Water Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be given a $0.325 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.30 annualized dividend and a yield of 1.98%. This is an increase from Middlesex Water’s previous quarterly dividend of $0.31. Middlesex Water’s dividend payout ratio (DPR) is presently 70.65%.

Analysts Set New Price Targets

MSEX has been the subject of several research reports. StockNews.com initiated coverage on shares of Middlesex Water in a research report on Thursday, October 5th. They issued a “sell” rating for the company. TheStreet downgraded shares of Middlesex Water from a “b-” rating to a “c+” rating in a research report on Friday, October 20th.

About Middlesex Water

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.