Middlesex Water (NASDAQ:MSEX) Shares Cross Above 200-Day Moving Average – What’s Next?

Middlesex Water Company (NASDAQ:MSEX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.38 and traded as high as $54.73. Middlesex Water shares last traded at $52.46, with a volume of 225,184 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on MSEX. Loop Capital set a $55.00 price target on shares of Middlesex Water in a research note on Wednesday, February 25th. Weiss Ratings downgraded shares of Middlesex Water from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

Middlesex Water Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.32. The firm has a market cap of $985.74 million, a P/E ratio of 22.06 and a beta of 0.79. The stock’s 50-day simple moving average is $52.43 and its two-hundred day simple moving average is $52.38.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%. The business had revenue of $48.71 million for the quarter, compared to analysts’ expectations of $49.75 million.

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.36 per share. The ex-dividend date was Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.7%. Middlesex Water’s payout ratio is 60.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Penn Capital Management Company LLC increased its position in Middlesex Water by 129.7% during the third quarter. Penn Capital Management Company LLC now owns 39,705 shares of the utilities provider’s stock valued at $2,149,000 after acquiring an additional 22,422 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Middlesex Water by 23.3% in the third quarter. Principal Financial Group Inc. now owns 126,343 shares of the utilities provider’s stock worth $6,838,000 after purchasing an additional 23,911 shares during the last quarter. TSP Capital Management Group LLC grew its holdings in shares of Middlesex Water by 57.8% in the fourth quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider’s stock worth $9,483,000 after purchasing an additional 68,854 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Middlesex Water by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,398,851 shares of the utilities provider’s stock worth $70,530,000 after purchasing an additional 25,363 shares during the last quarter. Finally, Abacus Wealth Partners LLC bought a new position in shares of Middlesex Water in the fourth quarter worth about $609,000. 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.