Middlesex Water (NASDAQ:MSEX) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Middlesex Water Company (NASDAQ:MSEX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $53.47 and traded as high as $53.69. Middlesex Water shares last traded at $52.80, with a volume of 101,037 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Robert W. Baird dropped their price target on Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Middlesex Water in a research note on Wednesday, October 8th. Finally, New Street Research set a $52.00 target price on shares of Middlesex Water in a report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Middlesex Water has a consensus rating of “Buy” and an average price target of $60.33.

Middlesex Water Trading Up 2.1%

The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.73. The company has a market cap of $968.35 million, a PE ratio of 22.09, a P/E/G ratio of 3.35 and a beta of 0.87. The company has a fifty day simple moving average of $51.62 and a two-hundred day simple moving average of $53.47.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Friday, October 31st. The utilities provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.09). The company had revenue of $54.09 million for the quarter, compared to analyst estimates of $56.08 million. Middlesex Water had a return on equity of 9.38% and a net margin of 22.08%. Analysts anticipate that Middlesex Water Company will post 2.34 EPS for the current year.

Middlesex Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Middlesex Water’s previous quarterly dividend of $0.34. Middlesex Water’s payout ratio is currently 60.25%.

Hedge Funds Weigh In On Middlesex Water

A number of institutional investors and hedge funds have recently modified their holdings of MSEX. Northstar Asset Management Inc. grew its position in shares of Middlesex Water by 76.1% in the 2nd quarter. Northstar Asset Management Inc. now owns 34,072 shares of the utilities provider’s stock valued at $1,846,000 after buying an additional 14,725 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Middlesex Water in the second quarter valued at $327,000. State of Alaska Department of Revenue boosted its stake in Middlesex Water by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 10,657 shares of the utilities provider’s stock valued at $576,000 after acquiring an additional 763 shares in the last quarter. Inceptionr LLC purchased a new position in shares of Middlesex Water during the second quarter worth about $400,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Middlesex Water by 204.6% during the third quarter. Exchange Traded Concepts LLC now owns 40,250 shares of the utilities provider’s stock worth $2,178,000 after purchasing an additional 27,038 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.