Cable Hill Partners LLC Lowers Stake in Middlesex Water (NASDAQ:MSEX)

Cable Hill Partners LLC lowered its stake in shares of Middlesex Water (NASDAQ:MSEX) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,880 shares of the utilities provider’s stock after selling 597 shares during the period. Cable Hill Partners LLC’s holdings in Middlesex Water were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MSEX. Allworth Financial LP increased its position in shares of Middlesex Water by 1,136.4% during the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of Middlesex Water during the third quarter worth $210,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Middlesex Water during the third quarter worth $225,000. Victory Capital Management Inc. acquired a new position in shares of Middlesex Water during the third quarter worth $230,000. Finally, Intech Investment Management LLC acquired a new position in shares of Middlesex Water during the third quarter worth $271,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Price Performance

NASDAQ MSEX opened at $51.05 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. The stock’s fifty day moving average price is $51.09 and its 200 day moving average price is $59.30. Middlesex Water has a 1 year low of $45.42 and a 1 year high of $70.73. The company has a market cap of $911.50 million, a price-to-earnings ratio of 22.20, a PEG ratio of 1.50 and a beta of 0.85.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Tuesday, February 18th. Middlesex Water’s payout ratio is 59.13%.

Analyst Ratings Changes

MSEX has been the topic of a number of recent analyst reports. Bank of America initiated coverage on Middlesex Water in a research report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price target on the stock. Robert W. Baird upped their target price on Middlesex Water from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, November 1st.

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.