ValuEngine upgraded shares of Middlesex Water (NASDAQ:MSEX) from a hold rating to a buy rating in a report released on Monday morning.
MSEX has been the subject of several other reports. Janney Montgomery Scott reduced their price target on Middlesex Water from $43.00 to $40.00 and set a buy rating for the company in a research report on Monday, March 12th. BidaskClub cut Middlesex Water from a sell rating to a strong sell rating in a research report on Saturday, March 3rd. Finally, Zacks Investment Research cut Middlesex Water from a hold rating to a sell rating in a research report on Wednesday, January 24th.
Shares of NASDAQ:MSEX opened at $39.51 on Monday. Middlesex Water has a 52-week low of $32.23 and a 52-week high of $46.74. The stock has a market capitalization of $660.13, a PE ratio of 29.25 and a beta of 0.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.45 and a quick ratio of 0.39.
In related news, Director Walter G. Reinhard sold 1,000 shares of Middlesex Water stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $36.97, for a total transaction of $36,970.00. Following the completion of the transaction, the director now directly owns 81 shares in the company, valued at $2,994.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.48% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Middlesex Water by 2.3% during the fourth quarter. BlackRock Inc. now owns 1,213,358 shares of the utilities provider’s stock valued at $48,425,000 after acquiring an additional 26,918 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Middlesex Water by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 586,412 shares of the utilities provider’s stock valued at $23,029,000 after acquiring an additional 19,647 shares in the last quarter. Renaissance Technologies LLC raised its position in Middlesex Water by 1.4% during the fourth quarter. Renaissance Technologies LLC now owns 546,500 shares of the utilities provider’s stock valued at $21,811,000 after acquiring an additional 7,700 shares in the last quarter. First Trust Advisors LP grew its holdings in Middlesex Water by 10.5% in the fourth quarter. First Trust Advisors LP now owns 102,844 shares of the utilities provider’s stock valued at $4,105,000 after purchasing an additional 9,734 shares during the period. Finally, Nuance Investments LLC grew its holdings in Middlesex Water by 2.3% in the fourth quarter. Nuance Investments LLC now owns 89,002 shares of the utilities provider’s stock valued at $3,552,000 after purchasing an additional 2,012 shares during the period. Institutional investors own 50.54% of the company’s stock.
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About Middlesex Water
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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