Dimensional Fund Advisors LP Reduces Stock Holdings in Middlesex Water (NASDAQ:MSEX)

Dimensional Fund Advisors LP cut its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 0.4% in the second quarter, HoldingsChannel.com reports. The firm owned 452,326 shares of the utilities provider’s stock after selling 1,851 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Middlesex Water were worth $23,639,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. American Century Companies Inc. acquired a new position in Middlesex Water during the second quarter worth $289,000. Daiwa Securities Group Inc. raised its position in shares of Middlesex Water by 13.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,180 shares of the utilities provider’s stock worth $375,000 after acquiring an additional 878 shares in the last quarter. Private Advisor Group LLC lifted its stake in Middlesex Water by 8.5% during the second quarter. Private Advisor Group LLC now owns 11,055 shares of the utilities provider’s stock worth $578,000 after purchasing an additional 868 shares during the last quarter. TD Asset Management Inc grew its position in shares of Middlesex Water by 30.3% in the 2nd quarter. TD Asset Management Inc now owns 20,128 shares of the utilities provider’s stock valued at $1,052,000 after buying an additional 4,684 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Middlesex Water by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 62,060 shares of the utilities provider’s stock valued at $3,243,000 after purchasing an additional 1,288 shares during the period. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Middlesex Water Stock Performance

NASDAQ:MSEX opened at $63.29 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. Middlesex Water has a fifty-two week low of $45.42 and a fifty-two week high of $73.47. The firm’s fifty day simple moving average is $63.47 and its 200-day simple moving average is $56.66. The stock has a market cap of $1.13 billion, a PE ratio of 31.49 and a beta of 0.79.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.05). The firm had revenue of $49.15 million during the quarter, compared to analyst estimates of $47.00 million. Middlesex Water had a return on equity of 8.69% and a net margin of 21.14%. Analysts expect that Middlesex Water will post 2.21 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, August 15th. Middlesex Water’s dividend payout ratio (DPR) is presently 64.36%.

Analyst Ratings Changes

MSEX has been the subject of a number of research reports. Robert W. Baird cut Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 price objective for the company. in a research note on Monday, August 5th. Baird R W lowered Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th.

Middlesex Water 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.