4,244 Shares in Middlesex Water (NASDAQ:MSEX) Purchased by Hightower 6M Holding LLC

Hightower 6M Holding LLC acquired a new stake in Middlesex Water (NASDAQ:MSEXGet Rating) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,244 shares of the utilities provider’s stock, valued at approximately $446,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Pictet Asset Management SA lifted its stake in Middlesex Water by 42.0% in the 4th quarter. Pictet Asset Management SA now owns 636,883 shares of the utilities provider’s stock valued at $76,616,000 after acquiring an additional 188,479 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Middlesex Water by 550.5% in the fourth quarter. JPMorgan Chase & Co. now owns 66,493 shares of the utilities provider’s stock valued at $7,999,000 after buying an additional 56,271 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Middlesex Water in the fourth quarter worth $5,864,000. First Trust Advisors LP boosted its position in shares of Middlesex Water by 20.8% during the 4th quarter. First Trust Advisors LP now owns 206,118 shares of the utilities provider’s stock worth $24,796,000 after acquiring an additional 35,516 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Middlesex Water by 113.2% during the 4th quarter. SG Americas Securities LLC now owns 66,077 shares of the utilities provider’s stock worth $7,949,000 after buying an additional 35,086 shares in the last quarter. Institutional investors and hedge funds own 68.14% of the company’s stock.

Middlesex Water Price Performance

Shares of Middlesex Water stock opened at $95.25 on Wednesday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 42.52 and a beta of 0.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.50 and a quick ratio of 0.42. The business’s 50 day simple moving average is $88.26 and its two-hundred day simple moving average is $93.25. Middlesex Water has a one year low of $75.77 and a one year high of $121.43.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, August 11th. Middlesex Water’s dividend payout ratio is 51.79%.

Insider Buying and Selling at Middlesex Water

In other news, VP Lorrie Beth Ginegaw sold 620 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $80.34, for a total value of $49,810.80. Following the completion of the sale, the vice president now directly owns 155 shares of the company’s stock, valued at $12,452.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.92% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Janney Montgomery Scott raised shares of Middlesex Water from a “neutral” rating to a “buy” rating in a research note on Friday, June 24th. TheStreet raised Middlesex Water from a “c+” rating to a “b-” rating in a report on Monday, July 25th. StockNews.com raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Finally, Robert W. Baird lowered their price target on shares of Middlesex Water from $102.00 to $99.00 in a report on Monday, May 2nd.

Middlesex Water Profile

(Get Rating)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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.

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

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