BlackRock Inc. boosted its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,213,358 shares of the utilities provider’s stock after buying an additional 26,918 shares during the quarter. BlackRock Inc. owned approximately 0.07% of Middlesex Water worth $48,425,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Middlesex Water during the fourth quarter worth approximately $107,000. Teacher Retirement System of Texas acquired a new position in Middlesex Water during the fourth quarter worth approximately $222,000. Private Advisor Group LLC increased its position in Middlesex Water by 20.7% during the fourth quarter. Private Advisor Group LLC now owns 8,688 shares of the utilities provider’s stock worth $278,000 after buying an additional 1,488 shares during the last quarter. Creative Planning increased its position in Middlesex Water by 23.1% during the fourth quarter. Creative Planning now owns 7,284 shares of the utilities provider’s stock worth $291,000 after buying an additional 1,369 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Middlesex Water by 32.6% during the third quarter. Russell Investments Group Ltd. now owns 9,696 shares of the utilities provider’s stock worth $381,000 after buying an additional 2,383 shares during the last quarter. 50.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Walter G. Reinhard sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $36.97, for a total value of $36,970.00. Following the transaction, the director now owns 81 shares of the company’s stock, valued at $2,994.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.48% of the stock is currently owned by corporate insiders.
Middlesex Water stock opened at $38.00 on Friday. Middlesex Water has a 12 month low of $32.23 and a 12 month high of $46.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.39 and a current ratio of 0.45. The company has a market capitalization of $602.08, a PE ratio of 27.69 and a beta of 0.43.
Middlesex Water (NASDAQ:MSEX) last posted its earnings results on Friday, March 9th. The utilities provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Middlesex Water had a net margin of 17.44% and a return on equity of 10.16%. The firm had revenue of $31.46 million during the quarter, compared to analyst estimates of $34.00 million. analysts anticipate that Middlesex Water will post 1.55 EPS for the current year.
A number of equities analysts have weighed in on the company. BidaskClub downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Janney Montgomery Scott decreased their target price on Middlesex Water from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, March 12th. Finally, ValuEngine raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th.
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Middlesex Water Profile
Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.
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