American International Group Inc. Increases Stake in Middlesex Water Company (NASDAQ:MSEX)

American International Group Inc. raised its stake in Middlesex Water Company (NASDAQ:MSEX) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,770 shares of the utilities provider’s stock after buying an additional 644 shares during the period. American International Group Inc. owned 0.06% of Middlesex Water worth $361,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Middlesex Water during the first quarter valued at about $235,000. Bank of Montreal Can boosted its stake in Middlesex Water by 19.7% in the first quarter. Bank of Montreal Can now owns 6,643 shares of the utilities provider’s stock valued at $245,000 after buying an additional 1,094 shares during the last quarter. Private Advisor Group LLC boosted its stake in Middlesex Water by 33.9% in the first quarter. Private Advisor Group LLC now owns 8,865 shares of the utilities provider’s stock valued at $328,000 after buying an additional 2,246 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in Middlesex Water during the first quarter valued at about $334,000. Finally, Ameriprise Financial Inc. boosted its stake in Middlesex Water by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 10,852 shares of the utilities provider’s stock valued at $401,000 after buying an additional 130 shares during the last quarter. 49.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Middlesex Water Company (MSEX) opened at 39.39 on Thursday. The company’s 50-day moving average is $38.72 and its 200 day moving average is $37.47. Middlesex Water Company has a 52-week low of $32.23 and a 52-week high of $44.48. The firm has a market capitalization of $642.18 million, a PE ratio of 28.98 and a beta of 0.40.

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About Middlesex Water

Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.