Middlesex Water (NASDAQ:MSEX) Stake Decreased by Teton Advisors Inc.

Teton Advisors Inc. lessened its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,000 shares of the utilities provider’s stock after selling 200 shares during the period. Teton Advisors Inc.’s holdings in Middlesex Water were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in Middlesex Water by 958.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,439 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 1,303 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Middlesex Water by 114.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,923 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 1,028 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Middlesex Water by 138.3% during the third quarter. Daiwa Securities Group Inc. now owns 2,903 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,685 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in Middlesex Water during the third quarter worth approximately $212,000. Finally, WINTON GROUP Ltd bought a new stake in Middlesex Water during the third quarter worth approximately $217,000. Institutional investors own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their target price on Middlesex Water from $69.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, March 1st.

Middlesex Water Price Performance

Middlesex Water stock traded up $0.42 during mid-day trading on Thursday, hitting $52.42. The company’s stock had a trading volume of 88,038 shares, compared to its average volume of 165,883. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $933.60 million, a P/E ratio of 29.55 and a beta of 0.74. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $84.38. The stock’s fifty day moving average price is $50.19 and its two-hundred day moving average price is $58.43.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings data on Thursday, February 29th. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.14). Middlesex Water had a return on equity of 7.61% and a net margin of 18.96%. The firm had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $41.00 million. Research analysts forecast that Middlesex Water will post 2.28 earnings per share for the current year.

Middlesex Water Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Tuesday, May 14th. Middlesex Water’s dividend payout ratio (DPR) is currently 73.86%.

Insider Buying and Selling at Middlesex Water

In other Middlesex Water news, Director James F. Jr. Cosgrove acquired 1,600 shares of Middlesex Water stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $51.70 per share, with a total value of $82,720.00. Following the purchase, the director now owns 9,342 shares in the company, valued at $482,981.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.86% of the company’s stock.

Middlesex Water 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.