Middlesex Water Company (MSEX) Position Lessened by Martingale Asset Management L P
Martingale Asset Management L P cut its holdings in Middlesex Water Company (NASDAQ:MSEX) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,806 shares of the utilities provider’s stock after selling 1,900 shares during the quarter. Martingale Asset Management L P owned approximately 0.45% of Middlesex Water worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of MSEX. Vanguard Group Inc. grew its stake in shares of Middlesex Water by 19.6% in the first quarter. Vanguard Group Inc. now owns 923,000 shares of the utilities provider’s stock worth $34,105,000 after purchasing an additional 150,958 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Middlesex Water by 237.9% in the first quarter. Parametric Portfolio Associates LLC now owns 172,266 shares of the utilities provider’s stock worth $6,365,000 after purchasing an additional 121,279 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Middlesex Water in the second quarter worth about $3,309,000. Nuance Investments LLC bought a new stake in shares of Middlesex Water in the second quarter worth about $3,011,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Middlesex Water by 50.0% in the first quarter. Bank of New York Mellon Corp now owns 185,619 shares of the utilities provider’s stock worth $6,859,000 after purchasing an additional 61,885 shares during the last quarter. 49.05% of the stock is currently owned by institutional investors.
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Shares of Middlesex Water Company (MSEX) opened at 39.02 on Monday. The firm has a 50-day moving average of $38.42 and a 200 day moving average of $37.72. The stock has a market capitalization of $637.47 million, a price-to-earnings ratio of 29.45 and a beta of 0.41. Middlesex Water Company has a one year low of $32.23 and a one year high of $44.48.
Middlesex Water (NASDAQ:MSEX) last issued its earnings results 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). The company had revenue of $33.01 million during the quarter, compared to the consensus estimate of $34.00 million. Middlesex Water had a return on equity of 9.95% and a net margin of 16.46%. On average, equities research analysts predict that Middlesex Water Company will post $1.48 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a $0.2113 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.85 dividend on an annualized basis and a yield of 2.17%. Middlesex Water’s dividend payout ratio is currently 63.91%.
Several research firms recently issued reports on MSEX. ValuEngine raised Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, BidaskClub lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Thursday, August 10th.
Middlesex Water Profile
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.
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