Middlesex Water (NASDAQ:MSEX) Director Walter G. Reinhard sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $36.97, for a total value of $36,970.00. Following the completion of the sale, the director now directly owns 81 shares of the company’s stock, valued at $2,994.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ MSEX traded up $0.32 during mid-day trading on Tuesday, hitting $40.25. The company had a trading volume of 51,763 shares, compared to its average volume of 67,597. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.39 and a current ratio of 0.45. The stock has a market cap of $638.12, a PE ratio of 29.20 and a beta of 0.43. Middlesex Water has a 1 year low of $32.23 and a 1 year high of $46.74.
Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Friday, March 9th. The utilities provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). The company had revenue of $31.46 million for the quarter, compared to analysts’ expectations of $34.00 million. Middlesex Water had a return on equity of 10.16% and a net margin of 17.44%. sell-side analysts predict that Middlesex Water will post 1.55 EPS for the current year.
MSEX has been the subject of a number of recent research reports. BidaskClub downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research report on Thursday, December 21st. Zacks Investment Research upgraded Middlesex Water from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, January 3rd. 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. Finally, ValuEngine upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Middlesex Water during the fourth quarter valued at approximately $107,000. Teacher Retirement System of Texas purchased a new position in Middlesex Water during the fourth quarter valued at approximately $222,000. Cambridge Investment Research Advisors Inc. purchased a new position in Middlesex Water during the fourth quarter valued at approximately $228,000. Trustcore Financial Services LLC purchased a new position in Middlesex Water during the fourth quarter valued at approximately $232,000. Finally, Creative Planning increased its holdings in Middlesex Water by 23.1% during the fourth quarter. Creative Planning now owns 7,284 shares of the utilities provider’s stock valued at $291,000 after buying an additional 1,369 shares during the period. 50.54% of the stock is currently owned by institutional investors.
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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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