Middlesex Water (NASDAQ:MSEX) Upgraded by StockNews.com to “Sell”

Middlesex Water (NASDAQ:MSEXGet Free Report) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research note issued on Thursday.

Separately, Robert W. Baird lifted their target price on shares of Middlesex Water from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday.

Get Our Latest Stock Report on Middlesex Water

Middlesex Water Stock Up 1.6 %

Middlesex Water stock opened at $57.88 on Thursday. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $84.38. The stock has a fifty day simple moving average of $50.69 and a two-hundred day simple moving average of $58.02. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 0.85. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 32.89 and a beta of 0.74.

Middlesex Water (NASDAQ:MSEXGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.45 by $0.14. The company had revenue of $40.52 million during the quarter, compared to the consensus estimate of $42.00 million. Middlesex Water had a return on equity of 7.61% and a net margin of 18.96%. Equities analysts predict that Middlesex Water will post 2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James F. Jr. Cosgrove purchased 1,600 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $51.70 per share, with a total value of $82,720.00. Following the completion of the acquisition, the director now owns 9,342 shares of the company’s stock, valued at approximately $482,981.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MSEX. GAMMA Investing LLC raised its holdings in Middlesex Water by 290.8% during the first quarter. GAMMA Investing LLC now owns 594 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 442 shares during the period. Quadrant Capital Group LLC lifted its holdings in Middlesex Water by 958.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,439 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 1,303 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Middlesex Water by 114.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,923 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 1,028 shares during the period. Daiwa Securities Group Inc. grew its holdings in Middlesex Water by 138.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,903 shares of the utilities provider’s stock valued at $192,000 after buying an additional 1,685 shares in the last quarter. Finally, Crestwood Advisors Group LLC bought a new stake in shares of Middlesex Water during the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Company Profile

(Get Free Report)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. 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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