Middlesex Water (NASDAQ:MSEX) CFO A Bruce Oconnor sold 2,500 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $66.26, for a total value of $165,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ:MSEX traded up $0.74 during trading on Tuesday, hitting $66.66. The company’s stock had a trading volume of 370 shares, compared to its average volume of 74,624. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.43 and a current ratio of 0.50. Middlesex Water has a fifty-two week low of $48.79 and a fifty-two week high of $72.41. The stock’s 50-day moving average price is $65.74 and its two-hundred day moving average price is $63.35. The company has a market capitalization of $1.07 billion, a PE ratio of 32.16 and a beta of 0.25.
Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06. Middlesex Water had a return on equity of 11.75% and a net margin of 25.78%. The business had revenue of $31.77 million for the quarter, compared to analysts’ expectations of $32.00 million. On average, equities analysts predict that Middlesex Water will post 2.09 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Middlesex Water from a “hold” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Friday, May 8th. BidaskClub cut Middlesex Water from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $73.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Middlesex Water by 3.2% during the first quarter. BlackRock Inc. now owns 1,373,523 shares of the utilities provider’s stock valued at $82,576,000 after buying an additional 43,167 shares in the last quarter. Pictet Asset Management Ltd. bought a new position in Middlesex Water during the 4th quarter valued at $24,140,000. State Street Corp boosted its stake in Middlesex Water by 3.5% during the 4th quarter. State Street Corp now owns 357,189 shares of the utilities provider’s stock valued at $22,707,000 after purchasing an additional 12,007 shares in the last quarter. Eaton Vance Management boosted its stake in Middlesex Water by 21.9% during the 1st quarter. Eaton Vance Management now owns 347,075 shares of the utilities provider’s stock valued at $20,866,000 after purchasing an additional 62,285 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Middlesex Water by 12.6% during the 1st quarter. Geode Capital Management LLC now owns 269,322 shares of the utilities provider’s stock valued at $16,190,000 after purchasing an additional 30,156 shares in the last quarter. Hedge funds and other institutional investors own 58.95% of the company’s stock.
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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