Middlesex Water (NASDAQ:MSEX) Coverage Initiated by Analysts at Robert W. Baird

Stock analysts at Robert W. Baird started coverage on shares of Middlesex Water (NASDAQ:MSEX) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the utilities provider’s stock.

MSEX has been the topic of several other research reports. ValuEngine downgraded Middlesex Water from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Zacks Investment Research upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Middlesex Water has an average rating of “Hold” and an average target price of $67.00.

NASDAQ:MSEX traded down $0.10 during mid-day trading on Tuesday, hitting $61.56. 77,407 shares of the company’s stock were exchanged, compared to its average volume of 59,242. The company has a market cap of $1.08 billion, a PE ratio of 31.41 and a beta of 0.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.34 and a quick ratio of 0.29. Middlesex Water has a one year low of $49.17 and a one year high of $67.69. The business has a fifty day moving average price of $63.24 and a 200 day moving average price of $61.50.

Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.66 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $37.77 million for the quarter, compared to the consensus estimate of $39.00 million. On average, equities analysts forecast that Middlesex Water will post 1.96 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in MSEX. Tortoise Capital Advisors L.L.C. grew its position in Middlesex Water by 3,800.0% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 702 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 684 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Middlesex Water in the second quarter worth about $56,000. Sandy Spring Bank purchased a new position in Middlesex Water in the third quarter worth about $88,000. Advisory Services Network LLC lifted its stake in shares of Middlesex Water by 9.5% in the second quarter. Advisory Services Network LLC now owns 2,078 shares of the utilities provider’s stock worth $123,000 after buying an additional 181 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Middlesex Water by 71.0% in the second quarter. Bank of Montreal Can now owns 3,264 shares of the utilities provider’s stock worth $193,000 after buying an additional 1,355 shares in the last quarter. Institutional investors own 58.05% of the company’s stock.

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.

Featured Article: Call Option

The Fly

Receive News & Ratings for Middlesex Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlesex Water and related companies with MarketBeat.com's FREE daily email newsletter.