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

Cable Hill Partners LLC trimmed its holdings in Middlesex Water (NASDAQ:MSEX) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,880 shares of the utilities provider’s stock after selling 597 shares during the quarter. Cable Hill Partners LLC’s holdings in Middlesex Water were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MSEX. Wealth Enhancement Advisory Services LLC purchased a new stake in Middlesex Water in the third quarter valued at $225,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Middlesex Water by 5.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 4,236 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 201 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Middlesex Water during the 3rd quarter worth about $210,000. Victory Capital Management Inc. purchased a new stake in shares of Middlesex Water during the 3rd quarter worth about $230,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Middlesex Water during the 3rd quarter worth about $271,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Middlesex Water in a research note on Wednesday, December 11th. They set an “underperform” rating and a $56.00 target price on the stock. Robert W. Baird increased their target price 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.

Middlesex Water Trading Down 1.4 %

Shares of Middlesex Water stock opened at $51.05 on Friday. The firm has a market capitalization of $911.50 million, a PE ratio of 22.20, a P/E/G ratio of 1.50 and a beta of 0.85. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $70.73. The firm’s 50-day moving average price is $51.09 and its 200 day moving average price is $59.30. 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 Announces Dividend

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

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.