Pictet Asset Management Holding SA Raises Holdings in Middlesex Water (NASDAQ:MSEX)

Pictet Asset Management Holding SA raised its position in Middlesex Water (NASDAQ:MSEX) by 31.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,009 shares of the utilities provider’s stock after purchasing an additional 1,192 shares during the period. Pictet Asset Management Holding SA’s holdings in Middlesex Water were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Middlesex Water by 187.2% in the fourth quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider’s stock valued at $4,871,000 after buying an additional 60,337 shares during the last quarter. State Street Corp grew its stake in Middlesex Water by 7.0% during the 3rd quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock valued at $53,070,000 after acquiring an additional 53,098 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Middlesex Water in the 4th quarter valued at about $1,595,000. Jackson Creek Investment Advisors LLC purchased a new position in Middlesex Water in the 4th quarter worth approximately $1,246,000. Finally, Barclays PLC boosted its holdings in shares of Middlesex Water by 349.4% during the 3rd quarter. Barclays PLC now owns 29,919 shares of the utilities provider’s stock worth $1,952,000 after purchasing an additional 23,262 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Price Performance

MSEX stock opened at $61.63 on Friday. Middlesex Water has a 52-week low of $45.42 and a 52-week high of $70.73. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80. The business has a fifty day moving average of $57.51 and a two-hundred day moving average of $58.92.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13. The firm had revenue of $47.11 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.32 EPS. As a group, research analysts anticipate that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.36 annualized dividend and a dividend yield of 2.21%. Middlesex Water’s dividend payout ratio is currently 55.06%.

Insider Transactions at Middlesex Water

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of Middlesex Water stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $60.05, for a total value of $244,223.35. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MSEX shares. Baird R W raised Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. StockNews.com downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday. Janney Montgomery Scott reissued a “neutral” rating on shares of Middlesex Water in a research report on Friday, April 4th. Finally, Robert W. Baird upgraded 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Middlesex Water currently has an average rating of “Hold” and a consensus target price of $58.50.

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.