First Trust Advisors LP boosted its stake in shares of Middlesex Water Company (NASDAQ:MSEX) by 11.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,110 shares of the utilities provider’s stock after acquiring an additional 9,555 shares during the quarter. First Trust Advisors LP owned 0.57% of Middlesex Water worth $3,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its holdings in Middlesex Water by 1.2% in the 1st quarter. Ameriprise Financial Inc. now owns 10,852 shares of the utilities provider’s stock worth $401,000 after buying an additional 130 shares during the period. Aperio Group LLC lifted its holdings in Middlesex Water by 1.1% in the 2nd quarter. Aperio Group LLC now owns 14,832 shares of the utilities provider’s stock worth $587,000 after buying an additional 155 shares during the period. Legal & General Group Plc lifted its holdings in Middlesex Water by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock worth $162,000 after buying an additional 161 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Middlesex Water by 3.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,026 shares of the utilities provider’s stock worth $438,000 after buying an additional 400 shares during the period. Finally, Financial Architects Inc lifted its holdings in Middlesex Water by 3.6% in the 2nd quarter. Financial Architects Inc now owns 16,481 shares of the utilities provider’s stock worth $653,000 after buying an additional 568 shares during the period. Institutional investors own 48.86% of the company’s stock.

MSEX has been the subject of several research analyst reports. Zacks Investment Research cut Middlesex Water from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Janney Montgomery Scott reiterated a “buy” rating and issued a $44.00 price objective on shares of Middlesex Water in a report on Wednesday, October 4th. BidaskClub cut Middlesex Water from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, ValuEngine upgraded Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, August 4th.

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Middlesex Water Company (MSEX) opened at $43.42 on Monday. Middlesex Water Company has a 52-week low of $32.23 and a 52-week high of $46.39. The stock has a market capitalization of $709.74, a P/E ratio of 34.74 and a beta of 0.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.43.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be given a $0.2238 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.90 annualized dividend and a dividend yield of 2.06%. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.21. Middlesex Water’s dividend payout ratio is currently 71.20%.

In other news, President Gerard L. Esposito sold 1,700 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $42.89, for a total value of $72,913.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP A Bruce Oconnor sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $43.83, for a total value of $175,320.00. Following the completion of the transaction, the vice president now directly owns 16,803 shares of the company’s stock, valued at approximately $736,475.49. The disclosure for this sale can be found here. Insiders sold a total of 5,900 shares of company stock valued at $256,093 in the last three months. Corporate insiders own 3.48% of the company’s stock.

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.

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

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