First Trust Advisors LP raised its position in Middlesex Water (NASDAQ:MSEX) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,597 shares of the utilities provider’s stock after buying an additional 5,520 shares during the period. First Trust Advisors LP owned 0.78% of Middlesex Water worth $5,381,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MSEX. Wedge Capital Management L L P NC increased its holdings in Middlesex Water by 81.2% during the 1st quarter. Wedge Capital Management L L P NC now owns 27,537 shares of the utilities provider’s stock worth $1,011,000 after purchasing an additional 12,337 shares during the last quarter. Stephens Inc. AR increased its holdings in Middlesex Water by 34.9% during the 1st quarter. Stephens Inc. AR now owns 18,448 shares of the utilities provider’s stock worth $677,000 after purchasing an additional 4,775 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Middlesex Water by 31.4% during the 1st quarter. Victory Capital Management Inc. now owns 24,792 shares of the utilities provider’s stock worth $910,000 after purchasing an additional 5,921 shares during the last quarter. Prudential Financial Inc. increased its holdings in Middlesex Water by 161.6% during the 1st quarter. Prudential Financial Inc. now owns 35,132 shares of the utilities provider’s stock worth $1,289,000 after purchasing an additional 21,700 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Middlesex Water by 5.9% during the 1st quarter. Swiss National Bank now owns 28,562 shares of the utilities provider’s stock worth $1,048,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 53.26% of the company’s stock.

In other news, VP A Bruce Oconnor sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $42.75, for a total value of $171,000.00. Following the completion of the sale, the vice president now directly owns 19,628 shares in the company, valued at approximately $839,097. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lorrie Beth Ginegaw sold 760 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $44.45, for a total value of $33,782.00. Following the completion of the sale, the vice president now owns 8,131 shares of the company’s stock, valued at $361,422.95. The disclosure for this sale can be found here. Insiders sold a total of 5,260 shares of company stock valued at $226,417 over the last quarter. Company insiders own 3.48% of the company’s stock.

MSEX has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Middlesex Water from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine upgraded Middlesex Water from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Janney Montgomery Scott downgraded Middlesex Water from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Wednesday, May 9th. Finally, BidaskClub downgraded Middlesex Water from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Shares of NASDAQ MSEX opened at $44.66 on Wednesday. Middlesex Water has a twelve month low of $33.96 and a twelve month high of $48.16. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $756.67 million, a PE ratio of 32.33 and a beta of 0.45.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.14. Middlesex Water had a return on equity of 11.34% and a net margin of 19.56%. The business had revenue of $34.92 million during the quarter, compared to the consensus estimate of $34.00 million. equities analysts forecast that Middlesex Water will post 1.84 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th will be issued a $0.224 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.01%. Middlesex Water’s dividend payout ratio (DPR) is 64.49%.

About Middlesex Water

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

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