Mitsubishi UFJ Asset Management Co. Ltd. Acquires 473 Shares of Middlesex Water (NASDAQ:MSEX)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 1,006.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520 shares of the utilities provider’s stock after purchasing an additional 473 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Middlesex Water were worth $27,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its holdings in shares of 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 buying an additional 202 shares during the last quarter. Allworth Financial LP increased its position in Middlesex Water by 1,136.4% during the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 500 shares during the period. FMR LLC raised its stake in Middlesex Water by 9.7% during the 3rd quarter. FMR LLC now owns 7,018 shares of the utilities provider’s stock valued at $458,000 after purchasing an additional 618 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in Middlesex Water in the 4th quarter valued at $37,000. Finally, Illinois Municipal Retirement Fund grew its position in Middlesex Water by 10.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 10,513 shares of the utilities provider’s stock worth $553,000 after purchasing an additional 1,009 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Trading Down 4.2 %

MSEX stock opened at $63.76 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.14 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.50 and a beta of 0.79. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $70.73. The business’s 50 day moving average is $56.32 and its 200-day moving average is $59.14.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.13. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. The firm had revenue of $47.11 million during the quarter, compared to analyst estimates of $45.00 million. During the same period in the prior year, the company posted $0.32 earnings per share. Equities analysts anticipate that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.36 annualized dividend and a yield of 2.13%. Middlesex Water’s dividend payout ratio is 55.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MSEX shares. Robert W. Baird raised shares of Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Monday, March 3rd. Bank of America assumed coverage on Middlesex Water in a research report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price objective for the company. Janney Montgomery Scott restated a “neutral” rating on shares of Middlesex Water in a research report on Friday. StockNews.com raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Baird R W raised shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Middlesex Water has a consensus rating of “Hold” and a consensus price target of $58.50.

Insider Transactions at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $60.05, for a total value of $244,223.35. Following the transaction, the director now directly owns 52,112 shares of the company’s stock, valued at $3,129,325.60. The trade was a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.86% of the company’s stock.

Middlesex Water Profile

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.