SG Americas Securities LLC Has $1.28 Million Stock Position in Middlesex Water (NASDAQ:MSEX)
SG Americas Securities LLC lowered its holdings in shares of Middlesex Water (NASDAQ:MSEX – Get Rating) by 39.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 16,614 shares of the utilities provider's stock after selling 10,946 shares during the period. SG Americas Securities LLC's holdings in Middlesex Water were worth $1,283,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of MSEX. Exchange Traded Concepts LLC raised its stake in Middlesex Water by 3.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,683 shares of the utilities provider's stock worth $1,134,000 after buying an additional 529 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in shares of Middlesex Water in the second quarter valued at approximately $1,065,000. Total Clarity Wealth Management Inc. bought a new position in shares of Middlesex Water in the second quarter valued at approximately $66,000. Mutual of America Capital Management LLC grew its holdings in shares of Middlesex Water by 17.0% in the second quarter. Mutual of America Capital Management LLC now owns 2,949 shares of the utilities provider's stock valued at $259,000 after acquiring an additional 429 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in shares of Middlesex Water by 23.2% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 3,992 shares of the utilities provider's stock valued at $350,000 after acquiring an additional 753 shares in the last quarter. Institutional investors own 67.27% of the company's stock.
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Insider Transactions at Middlesex Water
In other news, VP Bernadette M. Sohler sold 2,200 shares of the firm's stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $92.03, for a total value of $202,466.00. Following the completion of the transaction, the vice president now directly owns 3,373 shares of the company's stock, valued at $310,417.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.92% of the company's stock.
Middlesex Water Price Performance
Shares of NASDAQ MSEX opened at $81.81 on Tuesday. The stock has a fifty day simple moving average of $87.58 and a two-hundred day simple moving average of $87.63. Middlesex Water has a 1-year low of $74.20 and a 1-year high of $109.51. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 34.23 and a beta of 0.71. The company has a current ratio of 0.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.76.
Middlesex Water (NASDAQ:MSEX – Get Rating) last announced its quarterly earnings data on Friday, October 28th. The utilities provider reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.08). Middlesex Water had a net margin of 26.96% and a return on equity of 11.12%. The firm had revenue of $47.73 million for the quarter, compared to the consensus estimate of $47.00 million. Analysts anticipate that Middlesex Water will post 2.29 earnings per share for the current year.
Middlesex Water Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Wednesday, November 16th were issued a dividend of $0.313 per share. This represents a $1.25 annualized dividend and a yield of 1.53%. This is a positive change from Middlesex Water's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, November 15th. Middlesex Water's dividend payout ratio is 52.30%.
Separately, StockNews.com raised Middlesex Water from a "sell" rating to a "hold" rating in a report on Wednesday, November 30th.
Middlesex Water Profile
Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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.
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