Middlesex Water (NASDAQ:MSEX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Middlesex Water (NASDAQ:MSEX) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other equities research analysts also recently commented on the stock. Weiss Ratings upgraded shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Loop Capital set a $55.00 price target on shares of Middlesex Water in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Middlesex Water has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Middlesex Water Stock Up 0.3%

Shares of NASDAQ:MSEX opened at $51.56 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. The company has a market cap of $960.05 million, a PE ratio of 21.48 and a beta of 0.78. Middlesex Water has a 52 week low of $44.17 and a 52 week high of $62.17. The firm has a 50 day simple moving average of $52.65 and a 200 day simple moving average of $52.88.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $48.71 million during the quarter, compared to the consensus estimate of $49.75 million. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%.

Middlesex Water Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.36 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.8%. Middlesex Water’s dividend payout ratio is presently 60.00%.

Insider Transactions at Middlesex Water

In related news, Director Robert N. Hoglund bought 2,000 shares of the business’s stock in a transaction on Friday, February 27th. The stock was bought at an average price of $54.31 per share, for a total transaction of $108,620.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at $108,620. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Middlesex Water

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSEX. Parallel Advisors LLC lifted its position in Middlesex Water by 68.6% in the 1st quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock worth $27,000 after buying an additional 212 shares in the last quarter. Versant Capital Management Inc lifted its position in Middlesex Water by 483.5% in the 3rd quarter. Versant Capital Management Inc now owns 566 shares of the utilities provider’s stock worth $31,000 after buying an additional 469 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Middlesex Water by 137.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 635 shares of the utilities provider’s stock worth $34,000 after buying an additional 368 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Middlesex Water by 35.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock worth $35,000 after buying an additional 170 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Middlesex Water in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Company Profile

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.