UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,402 Shares of Middlesex Water (NASDAQ:MSEX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 4.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,311 shares of the utilities provider’s stock after selling 2,402 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of Middlesex Water worth $3,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CWM LLC boosted its holdings in Middlesex Water by 65.1% during the 2nd quarter. CWM LLC now owns 1,306 shares of the utilities provider’s stock valued at $68,000 after acquiring an additional 515 shares during the period. GAMMA Investing LLC lifted its position in shares of Middlesex Water by 66.2% during the third quarter. GAMMA Investing LLC now owns 2,046 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 815 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Middlesex Water during the third quarter valued at $210,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Middlesex Water in the third quarter worth about $225,000. Finally, Everence Capital Management Inc. purchased a new position in Middlesex Water in the 3rd quarter worth about $230,000. Institutional investors own 79.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MSEX shares. Bank of America began coverage on shares of Middlesex Water in a research report on Wednesday. They issued an “underperform” rating and a $56.00 price objective for the company. Robert W. Baird boosted their price target on Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, November 1st.

Middlesex Water Stock Down 0.2 %

Middlesex Water stock opened at $59.42 on Friday. 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 firm has a market cap of $1.06 billion, a P/E ratio of 25.83 and a beta of 0.82. The business has a fifty day moving average of $64.51 and a two-hundred day moving average of $61.23. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $73.47.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 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 $55.10 million during the quarter, compared to analysts’ expectations of $50.00 million. During the same period in the prior year, the business posted $0.56 EPS. On average, analysts forecast that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, November 15th. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.33. Middlesex Water’s payout ratio is 59.13%.

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.