Amundi Buys 8,848 Shares of Middlesex Water (NASDAQ:MSEX)

Amundi raised its stake in shares of Middlesex Water (NASDAQ:MSEX) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,526 shares of the utilities provider’s stock after acquiring an additional 8,848 shares during the period. Amundi owned about 0.72% of Middlesex Water worth $6,470,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MSEX. Oppenheimer & Co. Inc. lifted its holdings in Middlesex Water by 1.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 19,863 shares of the utilities provider’s stock worth $1,045,000 after acquiring an additional 202 shares during the period. Allworth Financial LP raised its stake in shares of Middlesex Water by 1,136.4% during the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 500 shares during the period. FMR LLC boosted its holdings in shares of Middlesex Water by 9.7% in the 3rd quarter. FMR LLC now owns 7,018 shares of the utilities provider’s stock worth $458,000 after buying an additional 618 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Middlesex Water by 10.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 10,513 shares of the utilities provider’s stock valued at $553,000 after buying an additional 1,009 shares during the period. Finally, Inspire Investing LLC increased its holdings in Middlesex Water by 20.8% during the fourth quarter. Inspire Investing LLC now owns 7,633 shares of the utilities provider’s stock worth $402,000 after buying an additional 1,315 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

Middlesex Water Stock Up 1.0 %

Middlesex Water stock opened at $62.21 on Friday. The firm has a 50 day simple moving average of $52.71 and a 200 day simple moving average of $59.23. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $70.73. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 1.50 and a beta of 0.85.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.13. The company had revenue of $47.11 million during the quarter, compared to analysts’ expectations of $45.00 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. During the same period in the previous year, the business earned $0.32 earnings per share. On average, analysts predict that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.19%. Middlesex Water’s dividend payout ratio (DPR) is currently 55.06%.

Wall Street Analysts Forecast Growth

MSEX has been the topic of a number of research analyst reports. Baird R W raised shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Bank of America began coverage on Middlesex Water in a report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price objective for the company. StockNews.com lowered Middlesex Water from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Finally, Robert W. Baird upgraded Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price target for the company in a research note on Monday, March 3rd.

About Middlesex Water

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