Middlesex Water Company (MSEX) Position Reduced by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its stake in shares of Middlesex Water Company (NASDAQ:MSEX) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,749 shares of the utilities provider’s stock after selling 600 shares during the period. Gamco Investors INC. ET AL owned approximately 0.41% of Middlesex Water worth $2,643,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its position in shares of Middlesex Water by 4.1% in the second quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock valued at $162,000 after buying an additional 161 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Middlesex Water during the first quarter valued at approximately $235,000. Bank of Montreal Can raised its position in shares of 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 in the last quarter. Private Advisor Group LLC raised its position in shares of 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 in the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new position in shares of Middlesex Water during the first quarter valued at approximately $334,000. Institutional investors own 49.50% of the company’s stock.

Middlesex Water Company (NASDAQ MSEX) opened at 37.73 on Friday. Middlesex Water Company has a 52 week low of $32.23 and a 52 week high of $44.48. The firm has a 50-day moving average of $38.80 and a 200 day moving average of $37.52. The stock has a market capitalization of $616.40 million, a price-to-earnings ratio of 28.48 and a beta of 0.40.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.05. Middlesex Water had a return on equity of 9.95% and a net margin of 16.46%. The firm had revenue of $33.01 million during the quarter, compared to the consensus estimate of $34 million. On average, analysts anticipate that Middlesex Water Company will post $1.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a $0.2113 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.24%. Middlesex Water’s dividend payout ratio is currently 63.91%.

Several equities analysts have commented on MSEX shares. ValuEngine upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Friday, August 4th.

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.

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