Middlesex Water (NASDAQ:MSEX) Director Walter G. Reinhard sold 500 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $65.93, for a total value of $32,965.00. Following the completion of the sale, the director now owns 81 shares in the company, valued at $5,340.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ:MSEX opened at $65.89 on Friday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 33.86 and a beta of 0.29. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 0.85. Middlesex Water has a 1 year low of $52.51 and a 1 year high of $67.69. The firm has a 50 day moving average of $63.38 and a 200-day moving average of $62.31.
Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.06). Middlesex Water had a return on equity of 12.57% and a net margin of 24.23%. The business had revenue of $37.77 million for the quarter, compared to the consensus estimate of $39.00 million. As a group, analysts forecast that Middlesex Water will post 1.96 EPS for the current fiscal year.
MSEX has been the subject of a number of analyst reports. ValuEngine cut Middlesex Water from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub upgraded shares of Middlesex Water from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird started coverage on shares of Middlesex Water in a research report on Tuesday, December 3rd. They set an “outperform” rating and a $69.00 target price for the company. Finally, Zacks Investment Research cut shares of Middlesex Water from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $68.33.
A number of institutional investors and hedge funds have recently modified their holdings of MSEX. Rhumbline Advisers increased its stake in shares of Middlesex Water by 0.7% in the third quarter. Rhumbline Advisers now owns 21,960 shares of the utilities provider’s stock valued at $1,427,000 after buying an additional 161 shares in the last quarter. MML Investors Services LLC lifted its position in Middlesex Water by 5.3% during the 2nd quarter. MML Investors Services LLC now owns 3,874 shares of the utilities provider’s stock worth $230,000 after buying an additional 194 shares in the last quarter. California State Teachers Retirement System grew its holdings in Middlesex Water by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 24,984 shares of the utilities provider’s stock worth $1,623,000 after acquiring an additional 298 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Middlesex Water by 4.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,143 shares of the utilities provider’s stock worth $661,000 after acquiring an additional 474 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in Middlesex Water by 1.9% during the 3rd quarter. Stephens Inc. AR now owns 29,001 shares of the utilities provider’s stock worth $1,884,000 after acquiring an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.
Middlesex Water Company Profile
Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.
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