Lorrie Beth Ginegaw Sells 850 Shares of Middlesex Water (NASDAQ:MSEX) Stock

Middlesex Water (NASDAQ:MSEX) VP Lorrie Beth Ginegaw sold 850 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $63.11, for a total value of $53,643.50. Following the completion of the transaction, the vice president now directly owns 5,154 shares in the company, valued at $325,268.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of NASDAQ MSEX opened at $63.06 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.43 and a current ratio of 0.50. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 30.76 and a beta of 0.26. The business’s 50-day simple moving average is $66.93 and its 200-day simple moving average is $63.55. Middlesex Water has a 52 week low of $48.79 and a 52 week high of $72.41.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Tuesday, May 5th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.06. The firm had revenue of $31.77 million for the quarter, compared to analyst estimates of $32.00 million. Middlesex Water had a return on equity of 11.75% and a net margin of 25.78%. As a group, equities research analysts forecast that Middlesex Water will post 2.09 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its position in shares of Middlesex Water by 397.2% in the 4th quarter. Meeder Asset Management Inc. now owns 537 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 429 shares during the period. Nvwm LLC bought a new stake in shares of Middlesex Water in the 1st quarter worth approximately $42,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Middlesex Water in the 4th quarter worth approximately $48,000. Great West Life Assurance Co. Can bought a new stake in shares of Middlesex Water in the 4th quarter worth approximately $95,000. Finally, Tortoise Capital Advisors L.L.C. lifted its position in shares of Middlesex Water by 103.2% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 2,658 shares of the utilities provider’s stock worth $160,000 after acquiring an additional 1,350 shares during the period. Institutional investors own 58.85% of the company’s stock.

MSEX has been the topic of several research reports. Zacks Investment Research raised Middlesex Water from a “hold” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a research report on Friday, May 8th. BidaskClub lowered Middlesex Water from a “buy” rating to a “hold” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Middlesex Water has a consensus rating of “Buy” and a consensus target price of $73.00.

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: Certificate of Deposit (CD) For Risk Adverse Investors?

Insider Buying and Selling by Quarter for Middlesex Water (NASDAQ:MSEX)

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.