Middlesex Water (NASDAQ:MSEX) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Analysts have set a twelve-month consensus target price of $47.00 for the company and are anticipating that the company will post $0.65 earnings per share for the current quarter, according to Zacks. Zacks has also given Middlesex Water an industry rank of 160 out of 255 based on the ratings given to related companies.

Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of Middlesex Water from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of Middlesex Water from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 16th. Finally, ValuEngine upgraded shares of Middlesex Water from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd.

MSEX stock opened at $45.75 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.38 and a quick ratio of 0.32. Middlesex Water has a 1-year low of $33.96 and a 1-year high of $49.00. The firm has a market cap of $793.72 million, a price-to-earnings ratio of 33.15 and a beta of 0.39.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.14. Middlesex Water had a net margin of 19.56% and a return on equity of 11.34%. The firm had revenue of $34.92 million during the quarter, compared to analyst estimates of $34.00 million. Equities research analysts predict that Middlesex Water will post 1.84 earnings per share for the current fiscal year.

In other news, VP Lorrie Beth Ginegaw sold 760 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $44.45, for a total transaction of $33,782.00. Following the completion of the transaction, the vice president now owns 8,131 shares in the company, valued at $361,422.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP A Bruce Oconnor sold 3,321 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $45.82, for a total transaction of $152,168.22. Following the transaction, the vice president now owns 16,307 shares of the company’s stock, valued at approximately $747,186.74. The disclosure for this sale can be found here. 3.48% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Mcrae Capital Management Inc. bought a new position in shares of Middlesex Water during the third quarter worth about $213,000. Northern Trust Corp grew its position in Middlesex Water by 3.1% in the 2nd quarter. Northern Trust Corp now owns 231,256 shares of the utilities provider’s stock valued at $9,751,000 after buying an additional 6,895 shares in the last quarter. Stephens Inc. AR grew its position in Middlesex Water by 12.7% in the 2nd quarter. Stephens Inc. AR now owns 20,795 shares of the utilities provider’s stock valued at $877,000 after buying an additional 2,347 shares in the last quarter. Citadel Advisors LLC bought a new position in Middlesex Water in the 2nd quarter valued at about $625,000. Finally, Dimensional Fund Advisors LP grew its position in Middlesex Water by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 604,706 shares of the utilities provider’s stock valued at $25,501,000 after buying an additional 3,851 shares in the last quarter. Institutional investors and hedge funds own 53.25% of the company’s stock.

Middlesex Water Company Profile

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in 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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