TSP Capital Management Group LLC Sells 350 Shares of Middlesex Water (NASDAQ:MSEX)

TSP Capital Management Group LLC cut its holdings in Middlesex Water (NASDAQ:MSEX) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,288 shares of the utilities provider’s stock after selling 350 shares during the quarter. Middlesex Water comprises 2.0% of TSP Capital Management Group LLC’s portfolio, making the stock its 20th largest position. TSP Capital Management Group LLC’s holdings in Middlesex Water were worth $5,752,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MSEX. State Street Corp boosted its position in shares of Middlesex Water by 7.0% during the third quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock worth $53,070,000 after purchasing an additional 53,098 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Middlesex Water by 0.8% during the third quarter. Geode Capital Management LLC now owns 434,559 shares of the utilities provider’s stock worth $28,356,000 after purchasing an additional 3,430 shares in the last quarter. Thematics Asset Management boosted its position in shares of Middlesex Water by 5.8% during the third quarter. Thematics Asset Management now owns 181,000 shares of the utilities provider’s stock worth $11,808,000 after purchasing an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Middlesex Water by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,281 shares of the utilities provider’s stock worth $10,913,000 after purchasing an additional 6,844 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Middlesex Water by 89.0% during the third quarter. Assenagon Asset Management S.A. now owns 74,946 shares of the utilities provider’s stock worth $4,889,000 after purchasing an additional 35,282 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MSEX. Robert W. Baird lifted their price target on shares of Middlesex Water from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Bank of America began coverage on shares of Middlesex Water in a research report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price target on the stock.

Middlesex Water Trading Up 1.2 %

MSEX opened at $50.70 on Friday. The stock has a market capitalization of $905.00 million, a P/E ratio of 22.04, a P/E/G ratio of 1.49 and a beta of 0.85. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $70.73. The firm’s fifty day simple moving average is $52.66 and its 200 day simple moving average is $60.18. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80.

Middlesex Water Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, February 18th. This represents a $1.36 annualized dividend and a yield of 2.68%. Middlesex Water’s dividend payout ratio is currently 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.