BidaskClub cut shares of Middlesex Water (NASDAQ:MSEX) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Middlesex Water from a hold rating to a sell rating in a research report on Thursday, September 14th. Janney Montgomery Scott reiterated a buy rating and issued a $44.00 target price on shares of Middlesex Water in a research report on Wednesday, October 4th.

Shares of Middlesex Water (NASDAQ:MSEX) traded down $0.90 during midday trading on Wednesday, hitting $42.26. 38,931 shares of the stock were exchanged, compared to its average volume of 28,108. The firm has a market capitalization of $705.49, a PE ratio of 34.53 and a beta of 0.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.43. Middlesex Water has a 1-year low of $32.23 and a 1-year high of $46.74.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were given a $0.2238 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from Middlesex Water’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, November 8th. Middlesex Water’s dividend payout ratio is 71.20%.

In other news, VP Bernadette M. Sohler sold 1,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $45.19, for a total value of $45,190.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Gerard L. Esposito sold 1,700 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $42.89, for a total transaction of $72,913.00. The disclosure for this sale can be found here. Insiders sold 6,900 shares of company stock valued at $301,283 over the last quarter. Company insiders own 3.48% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Middlesex Water by 24.9% during the second quarter. Ameriprise Financial Inc. now owns 13,550 shares of the utilities provider’s stock worth $536,000 after purchasing an additional 2,698 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Middlesex Water by 60.8% during the second quarter. Goldman Sachs Group Inc. now owns 24,722 shares of the utilities provider’s stock worth $979,000 after purchasing an additional 9,348 shares during the last quarter. Geode Capital Management LLC increased its position in Middlesex Water by 3.0% during the first quarter. Geode Capital Management LLC now owns 152,394 shares of the utilities provider’s stock worth $5,630,000 after purchasing an additional 4,400 shares during the last quarter. Stephens Inc. AR acquired a new stake in Middlesex Water during the second quarter worth about $305,000. Finally, First Trust Advisors LP increased its position in Middlesex Water by 11.4% during the third quarter. First Trust Advisors LP now owns 93,110 shares of the utilities provider’s stock worth $3,656,000 after purchasing an additional 9,555 shares during the last quarter. Hedge funds and other institutional investors own 50.98% of the company’s stock.

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Middlesex Water Company Profile

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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