Cerity Partners LLC Sells 2,529 Shares of Middlesex Water (NASDAQ:MSEX)

Cerity Partners LLC decreased its position in Middlesex Water (NASDAQ:MSEX) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,716 shares of the utilities provider’s stock after selling 2,529 shares during the quarter. Cerity Partners LLC’s holdings in Middlesex Water were worth $960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MSEX. Oppenheimer & Co. Inc. increased its stake in shares of Middlesex Water by 1.0% in the 4th 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Middlesex Water by 1,006.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 473 shares during the period. Allworth Financial LP increased its stake in shares of Middlesex Water by 1,136.4% during the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. FMR LLC increased its stake in shares of Middlesex Water by 9.7% during the third quarter. FMR LLC now owns 7,018 shares of the utilities provider’s stock valued at $458,000 after purchasing an additional 618 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in shares of Middlesex Water during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Price Performance

MSEX opened at $62.66 on Friday. The company’s 50-day simple moving average is $59.00 and its two-hundred day simple moving average is $58.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. The stock has a market capitalization of $1.12 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.50 and a beta of 0.80. Middlesex Water has a 52-week low of $46.30 and a 52-week high of $70.73.

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

Middlesex Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, February 18th. Middlesex Water’s dividend payout ratio (DPR) is presently 55.06%.

Insider Buying and Selling at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $60.05, for a total value of $244,223.35. Following the transaction, the director now owns 52,112 shares in the company, valued at $3,129,325.60. This represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MSEX shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Middlesex Water in a research report on Friday, April 4th. Robert W. Baird raised Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price target for the company in a research report on Monday, March 3rd. Baird R W upgraded shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, StockNews.com raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Middlesex Water currently has an average rating of “Hold” and an average price target 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.