Middlesex Water Co. (NASDAQ:MSEX)’s share price traded down 3.7% during mid-day trading on Thursday . The company traded as low as $41.38 and last traded at $41.42, with a volume of 59,426 shares traded. The stock had previously closed at $43.01.

Separately, Zacks Investment Research upgraded Middlesex Water from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Thursday, March 10th.

The stock has a market capitalization of $674.49 million and a P/E ratio of 32.14. The stock has a 50-day moving average price of $39.27 and a 200 day moving average price of $32.75.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.29 EPS for the quarter. The business earned $30.60 million during the quarter, compared to analyst estimates of $28.80 million. Equities research analysts forecast that Middlesex Water Co. will post $1.30 earnings per share for the current fiscal year.

Other institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC increased its position in shares of Middlesex Water by 117.2% in the fourth quarter. Chicago Equity Partners LLC now owns 47,343 shares of the company’s stock worth $1,256,000 after buying an additional 25,543 shares during the last quarter. WFG Advisors LP increased its position in Middlesex Water by 3.0% in the fourth quarter. WFG Advisors LP now owns 121,576 shares of the company’s stock valued at $3,227,000 after buying an additional 3,571 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Middlesex Water by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 436,050 shares of the company’s stock valued at $11,573,000 after buying an additional 13,569 shares in the last quarter.

Middlesex Water Company is a water utility company. The Company has two segments: regulated and non-regulated. The regulated business includes collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey, Delaware and Pennsylvania.

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