Middlesex Water Company (NASDAQ:MSEX) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

MSEX has been the topic of a number of other research reports. ValuEngine upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research lowered Middlesex Water from a “hold” rating to a “sell” rating in a research note on Friday, August 4th.

Middlesex Water (MSEX) traded up 0.29% during trading on Thursday, reaching $38.28. 1,581 shares of the company’s stock traded hands. Middlesex Water has a one year low of $32.23 and a one year high of $44.48. The company has a 50 day moving average of $39.30 and a 200 day moving average of $37.50. The firm has a market cap of $625.38 million, a price-to-earnings ratio of 28.89 and a beta of 0.40.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share 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 business had revenue of $33.01 million for the quarter, compared to analysts’ expectations of $34 million. Equities research analysts predict that Middlesex Water will post $1.48 EPS for the current year.

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Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Middlesex Water by 19.6% in the first quarter. Vanguard Group Inc. now owns 923,000 shares of the utilities provider’s stock worth $34,105,000 after buying an additional 150,958 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Middlesex Water by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 547,651 shares of the utilities provider’s stock worth $20,235,000 after buying an additional 18,476 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Middlesex Water by 9.0% in the first quarter. Renaissance Technologies LLC now owns 496,000 shares of the utilities provider’s stock worth $18,327,000 after buying an additional 40,800 shares in the last quarter. First Manhattan Co. raised its stake in shares of Middlesex Water by 5.2% in the second quarter. First Manhattan Co. now owns 338,897 shares of the utilities provider’s stock worth $13,420,000 after buying an additional 16,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Middlesex Water by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 194,185 shares of the utilities provider’s stock worth $7,690,000 after buying an additional 8,566 shares in the last quarter. Hedge funds and other institutional investors own 48.93% of the company’s stock.

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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