There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 16, Middlesex Water Co.'s Director, James F. Cosgrove Jr., invested $25,055.10 into 1,230 shares of MSEX, for a cost per share of $20.37. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Monday, bargain hunters could buy shares of Middlesex Water Co. ( MSEX - Get Report) and achieve a cost basis even cheaper than Cosgrove Jr., with shares changing hands as low as $20.31 per share. It should be noted that Cosgrove Jr. has collected $0.19/share in dividends since the time of their purchase, so they are currently up 0.6% on their purchase from a total return basis. Middlesex Water Co. shares are currently trading down about 4% on the day. The chart below shows the one year performance of MSEX shares, versus its 200 day moving average:

Middlesex Water Co. Chart

Looking at the chart above, MSEX's low point in its 52 week range is $18.50 per share, with $22.46 as the 52 week high point — that compares with a last trade of $20.35. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
08/16/2013 James F. Cosgrove Jr. Director 1,230 $20.37 $25,055.10

The current annualized dividend paid by Middlesex Water Co. is $0.76/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/13/2013. Below is a long-term dividend history chart for MSEX, which can be of good help in judging whether the most recent dividend with approx. 3.6% annualized yield is likely to continue.


According to the ETF Finder at ETF Channel, MSEX makes up 1.86% of the High Yield Equity Dividend Achievers Portfolio ETF ( PEY) which is trading up by about 0.2% on the day Monday.