Shares of Middlesex Water (NASDAQ:MSEX) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price target of $46.00 for the company and are anticipating that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Middlesex Water an industry rank of 209 out of 265 based on the ratings given to its competitors.

A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Middlesex Water from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Zacks Investment Research upgraded shares of Middlesex Water from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 3rd. Finally, Janney Montgomery Scott restated a “buy” rating and issued a $44.00 price target on shares of Middlesex Water in a research report on Wednesday, October 4th.

In related news, VP A Bruce Oconnor sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $43.83, for a total transaction of $175,320.00. Following the transaction, the vice president now owns 16,803 shares in the company, valued at approximately $736,475.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bernadette M. Sohler sold 1,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $45.19, for a total transaction of $45,190.00. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in shares of Middlesex Water by 24.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,550 shares of the utilities provider’s stock valued at $536,000 after acquiring an additional 2,698 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Middlesex Water by 60.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 24,722 shares of the utilities provider’s stock valued at $979,000 after acquiring an additional 9,348 shares during the period. Stephens Inc. AR acquired a new position in shares of Middlesex Water during the 2nd quarter valued at $305,000. First Trust Advisors LP lifted its position in shares of Middlesex Water by 11.4% during the 3rd quarter. First Trust Advisors LP now owns 93,110 shares of the utilities provider’s stock valued at $3,656,000 after acquiring an additional 9,555 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Middlesex Water by 6.5% during the 2nd quarter. Renaissance Technologies LLC now owns 528,400 shares of the utilities provider’s stock valued at $20,925,000 after acquiring an additional 32,400 shares during the period. Institutional investors own 50.28% of the company’s stock.

Middlesex Water (NASDAQ MSEX) opened at $37.37 on Monday. The stock has a market cap of $610.85, a P/E ratio of 29.90 and a beta of 0.45. Middlesex Water has a 1 year low of $32.23 and a 1 year high of $46.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.43.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.09). Middlesex Water had a return on equity of 9.32% and a net margin of 15.77%. equities research analysts forecast that Middlesex Water will post 1.4 earnings per share for the current fiscal year.

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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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