Private Advisor Group LLC Decreases Position in Middlesex Water Company (MSEX)
Private Advisor Group LLC trimmed its holdings in Middlesex Water Company (NASDAQ:MSEX) by 18.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,187 shares of the utilities provider’s stock after selling 1,678 shares during the quarter. Private Advisor Group LLC’s holdings in Middlesex Water were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of MSEX. Vanguard Group Inc. increased its stake in shares of Middlesex Water by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 923,000 shares of the utilities provider’s stock worth $34,105,000 after acquiring an additional 150,958 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Middlesex Water by 237.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 172,266 shares of the utilities provider’s stock worth $6,365,000 after acquiring an additional 121,279 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Middlesex Water in the 2nd quarter worth about $3,309,000. Nuance Investments LLC bought a new position in shares of Middlesex Water in the 2nd quarter worth about $3,011,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Middlesex Water by 50.0% in the 1st quarter. Bank of New York Mellon Corp now owns 185,619 shares of the utilities provider’s stock worth $6,859,000 after acquiring an additional 61,885 shares in the last quarter. Institutional investors own 49.05% of the company’s stock.
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Shares of Middlesex Water Company (NASDAQ MSEX) opened at 39.49 on Thursday. The company has a market capitalization of $645.15 million, a price-to-earnings ratio of 29.80 and a beta of 0.41. Middlesex Water Company has a 1-year low of $32.23 and a 1-year high of $44.48. The firm’s 50-day moving average is $38.43 and its 200-day moving average is $37.73.
Middlesex Water (NASDAQ:MSEX) last announced 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 firm 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%. Analysts forecast that Middlesex Water Company will post $1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a $0.2113 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $0.85 dividend on an annualized basis and a yield of 2.14%. Middlesex Water’s dividend payout ratio is presently 63.91%.
Several brokerages recently issued reports on MSEX. BidaskClub lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, ValuEngine upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note 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.
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