Middlesex Water (MSEX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of Middlesex Water (NASDAQ:MSEX) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,063 shares of the utilities provider’s stock after buying an additional 3,313 shares during the period. Bank of New York Mellon Corp owned about 0.77% of Middlesex Water worth $6,153,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Mcrae Capital Management Inc. bought a new position in Middlesex Water during the 3rd quarter worth approximately $213,000. Engineers Gate Manager LP acquired a new stake in shares of Middlesex Water during the 3rd quarter worth approximately $216,000. JPMorgan Chase & Co. raised its position in shares of Middlesex Water by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,717 shares of the utilities provider’s stock worth $956,000 after purchasing an additional 1,643 shares during the period. Alliancebernstein L.P. raised its position in shares of Middlesex Water by 5.3% during the 3rd quarter. Alliancebernstein L.P. now owns 22,765 shares of the utilities provider’s stock worth $1,102,000 after purchasing an additional 1,154 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Middlesex Water during the 3rd quarter worth approximately $1,801,000. 53.73% of the stock is currently owned by institutional investors.

Shares of Middlesex Water stock opened at $55.90 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.32 and a current ratio of 0.37. The company has a market cap of $910.60 million, a PE ratio of 40.51 and a beta of 0.42. Middlesex Water has a twelve month low of $34.00 and a twelve month high of $60.31.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, February 14th. Middlesex Water’s payout ratio is 69.57%.

A number of analysts have recently weighed in on MSEX shares. BidaskClub upgraded Middlesex Water from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research cut Middlesex Water from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Janney Montgomery Scott upgraded Middlesex Water from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Monday, November 5th.

In other news, Director Walter G. Reinhard sold 500 shares of the stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $58.01, for a total transaction of $29,005.00. Following the sale, the director now directly owns 81 shares in the company, valued at approximately $4,698.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.48% of the stock is currently owned by corporate insiders.

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About Middlesex Water

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.

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Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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