Shares of Middlesex Water Company (NASDAQ:MSEX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $45.59 and last traded at $45.59, with a volume of 28,297 shares traded. The stock had previously closed at $44.69.

A number of analysts recently issued reports on the stock. Janney Montgomery Scott restated a “buy” rating and issued a $44.00 price target on shares of Middlesex Water in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub downgraded shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, ValuEngine raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, August 4th.

The firm has a market capitalization of $745.78 million, a PE ratio of 34.45 and a beta of 0.41. The company has a 50-day moving average price of $39.90 and a 200-day moving average price of $38.38.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The firm had revenue of $33.01 million during the quarter, compared to analyst estimates of $34.00 million. Middlesex Water had a net margin of 16.46% and a return on equity of 9.95%. On average, analysts forecast that Middlesex Water Company will post $1.48 EPS for the current year.

In related news, President Gerard L. Esposito sold 1,700 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $42.89, for a total value of $72,913.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.48% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. WFG Advisors LP raised its stake in Middlesex Water by 21.4% during the second quarter. WFG Advisors LP now owns 115,668 shares of the utilities provider’s stock worth $4,580,000 after acquiring an additional 20,415 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in Middlesex Water during the second quarter worth $119,000. Raymond James Financial Services Advisors Inc. raised its stake in Middlesex Water by 46.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,599 shares of the utilities provider’s stock worth $1,251,000 after acquiring an additional 10,040 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Middlesex Water by 6.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,308 shares of the utilities provider’s stock worth $527,000 after acquiring an additional 780 shares in the last quarter. Finally, State Street Corp raised its stake in Middlesex Water by 1.0% during the second quarter. State Street Corp now owns 333,238 shares of the utilities provider’s stock worth $13,202,000 after acquiring an additional 3,154 shares in the last quarter. Hedge funds and other institutional investors own 49.05% of the company’s stock.

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About Middlesex Water

Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.

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