Middlesex Water Company (NASDAQ:MSEX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in shares of Middlesex Water Company (NASDAQ:MSEX) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,384 shares of the utilities provider’s stock after selling 190 shares during the period. Janney Montgomery Scott LLC’s holdings in Middlesex Water were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Middlesex Water by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 214,913 shares of the utilities provider’s stock worth $11,311,000 after purchasing an additional 6,983 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Middlesex Water during the fourth quarter worth $1,595,000. Charles Schwab Investment Management Inc. boosted its position in Middlesex Water by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 172,472 shares of the utilities provider’s stock worth $9,077,000 after purchasing an additional 5,191 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Middlesex Water during the fourth quarter worth $522,000. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in Middlesex Water during the fourth quarter worth $1,246,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Analyst Upgrades and Downgrades

MSEX has been the topic of a number of research analyst reports. Wall Street Zen downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Janney Montgomery Scott upgraded Middlesex Water from a “neutral” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.00.

Middlesex Water Stock Down 0.5%

Shares of NASDAQ:MSEX opened at $55.60 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.78. Middlesex Water Company has a 52-week low of $48.18 and a 52-week high of $70.73. The stock’s fifty day simple moving average is $57.59 and its 200-day simple moving average is $56.51. The company has a market capitalization of $996.33 million, a P/E ratio of 23.07, a P/E/G ratio of 3.60 and a beta of 0.78.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $44.30 million during the quarter, compared to analysts’ expectations of $43.79 million. Middlesex Water had a net margin of 22.05% and a return on equity of 9.76%. As a group, equities research analysts forecast that Middlesex Water Company will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.45%. Middlesex Water’s payout ratio is currently 56.43%.

Middlesex Water Company 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.