Middlesex Water (NASDAQ:MSEX) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its position in shares of Middlesex Water (NASDAQ:MSEX) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,600 shares of the utilities provider’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Middlesex Water were worth $561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundry Partners LLC lifted its stake in shares of Middlesex Water by 22.4% in the 1st quarter. Foundry Partners LLC now owns 56,400 shares of the utilities provider’s stock worth $2,961,000 after acquiring an additional 10,315 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Middlesex Water in the 1st quarter worth approximately $1,113,000. UniSuper Management Pty Ltd acquired a new stake in shares of Middlesex Water in the 1st quarter worth approximately $401,000. Duff & Phelps Investment Management Co. acquired a new stake in shares of Middlesex Water in the 2nd quarter worth approximately $2,016,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Middlesex Water by 12.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 219,119 shares of the utilities provider’s stock worth $11,451,000 after acquiring an additional 24,400 shares during the period. 79.52% of the stock is owned by institutional investors and hedge funds.

Middlesex Water Stock Up 4.0 %

Middlesex Water stock opened at $66.85 on Wednesday. The firm has a market cap of $1.19 billion, a PE ratio of 29.07 and a beta of 0.79. 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 firm’s 50 day moving average price is $64.08 and its two-hundred day moving average price is $59.05. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $73.47.

Middlesex Water (NASDAQ:MSEX) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $55.10 million during the quarter, compared to the consensus estimate of $50.00 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, research analysts predict that Middlesex Water will post 2.21 EPS for the current fiscal year.

Middlesex Water Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.34 per share. This is an increase from Middlesex Water’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, November 15th. Middlesex Water’s dividend payout ratio is currently 59.13%.

Analyst Ratings Changes

MSEX has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on shares of Middlesex Water from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Baird R W lowered shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th.

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.