Middlesex Water (NASDAQ:MSEX) PT Lowered to $99.00

Middlesex Water (NASDAQ:MSEX – Get Rating) had its target price dropped by equities research analysts at Robert W. Baird from $102.00 to $99.00 in a research report issued on Monday, The Fly reports. Robert W. Baird’s target price would suggest a potential upside of 11.30% from the company’s current price.

Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Middlesex Water from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Wednesday, March 30th. StockNews.com assumed coverage on Middlesex Water in a report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, TheStreet downgraded Middlesex Water from a “b” rating to a “c+” rating in a report on Monday, March 28th.

Shares of NASDAQ MSEX opened at $88.95 on Monday. Middlesex Water has a fifty-two week low of $77.31 and a fifty-two week high of $121.43. The business has a 50 day moving average price of $99.89 and a two-hundred day moving average price of $103.08. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 0.83. The firm has a market cap of $1.56 billion, a PE ratio of 37.69 and a beta of 0.48.

Middlesex Water (NASDAQ:MSEX – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The utilities provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.16. Middlesex Water had a return on equity of 10.19% and a net margin of 25.53%. On average, analysts anticipate that Middlesex Water will post 2.65 earnings per share for the current year.

In related news, VP Bernadette M. Sohler sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $103.33, for a total value of $103,330.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dennis W. Doll sold 3,006 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $105.41, for a total value of $316,862.46. The disclosure for this sale can be found here. In the last three months, insiders sold 5,506 shares of company stock worth $575,617. Company insiders own 1.92% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D increased its position in Middlesex Water by 2.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 25,397 shares of the utilities provider’s stock valued at $3,055,000 after acquiring an additional 620 shares during the period. BlackRock Inc. increased its position in Middlesex Water by 95.4% in the 3rd quarter. BlackRock Inc. now owns 2,845,342 shares of the utilities provider’s stock valued at $292,444,000 after acquiring an additional 1,388,936 shares during the period. IndexIQ Advisors LLC increased its position in Middlesex Water by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 5,690 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 570 shares during the period. Jump Financial LLC acquired a new stake in Middlesex Water in the 3rd quarter valued at approximately $215,000. Finally, Principal Financial Group Inc. increased its position in Middlesex Water by 1,394.8% in the 3rd quarter. Principal Financial Group Inc. now owns 130,409 shares of the utilities provider’s stock valued at $13,403,000 after acquiring an additional 121,685 shares during the period. Hedge funds and other institutional investors own 68.14% of the company’s stock.

About Middlesex Water (Get Rating)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.

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