Shares of Middlesex Water (NASDAQ:MSEX) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a 12 month consensus target price of $71.00 for the company and are forecasting that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also given Middlesex Water an industry rank of 101 out of 255 based on the ratings given to its competitors.
Several brokerages have recently issued reports on MSEX. BidaskClub raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Robert W. Baird began coverage on shares of Middlesex Water in a research note on Tuesday, December 3rd. They set an “outperform” rating and a $69.00 price objective for the company. Zacks Investment Research cut shares of Middlesex Water from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, ValuEngine cut shares of Middlesex Water from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.
Shares of NASDAQ MSEX traded up $1.36 during trading on Friday, hitting $66.13. 78,989 shares of the company traded hands, compared to its average volume of 61,901. Middlesex Water has a 1 year low of $52.51 and a 1 year high of $67.69. The company has a 50-day moving average price of $62.82 and a 200-day moving average price of $62.12. The firm has a market capitalization of $1.13 billion, a P/E ratio of 33.57 and a beta of 0.29. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.85.
Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.06). Middlesex Water had a net margin of 24.23% and a return on equity of 12.57%. The company had revenue of $37.77 million for the quarter, compared to analysts’ expectations of $39.00 million. Research analysts predict that Middlesex Water will post 1.96 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in MSEX. Amundi Pioneer Asset Management Inc. grew its stake in shares of Middlesex Water by 7.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 245,858 shares of the utilities provider’s stock valued at $13,766,000 after buying an additional 17,275 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Middlesex Water by 25.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 41,221 shares of the utilities provider’s stock valued at $2,411,000 after acquiring an additional 8,353 shares in the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Middlesex Water by 291.4% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 26,808 shares of the utilities provider’s stock valued at $1,588,000 after acquiring an additional 19,958 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Middlesex Water by 110.4% during the 2nd quarter. Prudential Financial Inc. now owns 21,956 shares of the utilities provider’s stock valued at $1,301,000 after acquiring an additional 11,520 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Middlesex Water by 71.0% during the 2nd quarter. Bank of Montreal Can now owns 3,264 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 1,355 shares in the last quarter. 55.52% of the stock is owned by institutional investors.
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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