Middlesex Water Company (NASDAQ:MSEX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Middlesex Water Company (NASDAQ:MSEX) has been given an average recommendation of “Moderate Buy” by the five research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $61.6667.

MSEX has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Middlesex Water in a research note on Wednesday, October 8th. Robert W. Baird cut their price target on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd.

Middlesex Water Stock Up 2.9%

Middlesex Water stock opened at $50.01 on Friday. The business has a fifty day moving average of $54.74 and a two-hundred day moving average of $54.98. The company has a quick ratio of 0.35, a current ratio of 0.41 and a debt-to-equity ratio of 0.77. The firm has a market cap of $917.08 million, a P/E ratio of 20.67, a P/E/G ratio of 4.01 and a beta of 0.86. Middlesex Water has a twelve month low of $44.17 and a twelve month high of $68.64.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Friday, October 31st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.09). The company had revenue of $54.09 million during the quarter, compared to analysts’ expectations of $56.08 million. Middlesex Water had a net margin of 22.15% and a return on equity of 9.67%. On average, analysts forecast that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.44 annualized dividend and a yield of 2.9%. This is an increase from Middlesex Water’s previous quarterly dividend of $0.34. Middlesex Water’s dividend payout ratio is currently 60.25%.

Institutional Investors Weigh In On Middlesex Water

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Middlesex Water by 483.5% during the third quarter. Versant Capital Management Inc now owns 566 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 469 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Middlesex Water by 137.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 635 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 368 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Middlesex Water by 35.8% in the third quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock worth $35,000 after buying an additional 170 shares during the last quarter. Costello Asset Management INC purchased a new position in shares of Middlesex Water in the first quarter worth $50,000. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Middlesex Water during the second quarter worth $72,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Company Profile

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.