Prudential Financial Inc. grew its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 80.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,338 shares of the utilities provider’s stock after buying an additional 4,166 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Middlesex Water worth $499,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the business. Trust Co. of Vermont bought a new position in shares of Middlesex Water during the 4th quarter worth approximately $25,000. ETF Managers Group LLC boosted its holdings in shares of Middlesex Water by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 3,551 shares of the utilities provider’s stock worth $189,000 after buying an additional 483 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Middlesex Water in the 4th quarter worth $41,000. Alliancebernstein L.P. lifted its holdings in shares of Middlesex Water by 5.3% in the 3rd quarter. Alliancebernstein L.P. now owns 22,765 shares of the utilities provider’s stock worth $1,102,000 after purchasing an additional 1,154 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Middlesex Water in the 4th quarter worth $73,000. Hedge funds and other institutional investors own 54.88% of the company’s stock.

A number of brokerages recently issued reports on MSEX. Zacks Investment Research upgraded Middlesex Water from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Saturday, January 12th. Janney Montgomery Scott cut Middlesex Water from a “buy” rating to a “neutral” rating in a report on Monday, December 17th. They noted that the move was a valuation call. Finally, BidaskClub cut Middlesex Water from a “buy” rating to a “hold” rating in a report on Friday, March 15th.

In related news, Director Walter G. Reinhard sold 500 shares of the stock in a transaction on Friday, January 25th. The stock was sold at an average price of $58.01, for a total value of $29,005.00. Following the completion of the sale, the director now directly owns 81 shares of the company’s stock, valued at approximately $4,698.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Lorrie Beth Ginegaw sold 720 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $56.21, for a total value of $40,471.20. Following the completion of the sale, the vice president now directly owns 6,445 shares of the company’s stock, valued at $362,273.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,720 shares of company stock worth $214,101. 3.48% of the stock is owned by company insiders.

Shares of MSEX opened at $57.06 on Thursday. Middlesex Water has a 12-month low of $34.74 and a 12-month high of $60.48. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $951.42 million, a P/E ratio of 29.11 and a beta of 0.44.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Friday, March 8th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Middlesex Water had a return on equity of 13.50% and a net margin of 23.48%. The company had revenue of $33.27 million for the quarter, compared to analysts’ expectations of $33.00 million. As a group, sell-side analysts forecast that Middlesex Water will post 2.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, February 14th. Middlesex Water’s dividend payout ratio is currently 48.98%.

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Middlesex Water Profile

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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