Legal & General Group Plc cut its position in Middlesex Water Company (NASDAQ:MSEX) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,940 shares of the utilities provider’s stock after selling 52 shares during the period. Legal & General Group Plc’s holdings in Middlesex Water were worth $144,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of Middlesex Water by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 10,852 shares of the utilities provider’s stock valued at $401,000 after buying an additional 130 shares during the period. American International Group Inc. boosted its stake in shares of Middlesex Water by 7.1% in the first quarter. American International Group Inc. now owns 9,770 shares of the utilities provider’s stock valued at $361,000 after buying an additional 644 shares during the period. Teachers Advisors LLC boosted its stake in shares of Middlesex Water by 2.6% in the first quarter. Teachers Advisors LLC now owns 26,197 shares of the utilities provider’s stock valued at $968,000 after buying an additional 673 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Middlesex Water by 5.2% in the first quarter. Principal Financial Group Inc. now owns 21,085 shares of the utilities provider’s stock valued at $779,000 after buying an additional 1,043 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Middlesex Water by 19.7% in the first quarter. Bank of Montreal Can now owns 6,643 shares of the utilities provider’s stock valued at $245,000 after buying an additional 1,094 shares during the period. Institutional investors and hedge funds own 49.50% of the company’s stock.

Shares of Middlesex Water Company (NASDAQ MSEX) traded up 0.26% during mid-day trading on Wednesday, hitting $38.31. The stock had a trading volume of 1,917 shares. Middlesex Water Company has a 12-month low of $32.23 and a 12-month high of $44.48. The stock’s 50-day moving average price is $39.09 and its 200-day moving average price is $37.46. The stock has a market capitalization of $625.87 million, a price-to-earnings ratio of 28.91 and a beta of 0.40.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.05. Middlesex Water had a net margin of 16.46% and a return on equity of 9.95%. The firm had revenue of $33.01 million during the quarter, compared to the consensus estimate of $34 million. On average, equities analysts anticipate that Middlesex Water Company will post $1.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a $0.2113 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Wednesday, August 9th. Middlesex Water’s dividend payout ratio is currently 63.91%.

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Several brokerages have recently commented on MSEX. BidaskClub cut Middlesex Water from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research cut Middlesex Water from a “hold” rating to a “sell” rating in a research report on Friday, August 4th.

About Middlesex Water

Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.

Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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