Middlesex Water Company (NASDAQ:MSEX) has been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokers have set a 1-year consensus price target of $39.00 for the company and are predicting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Middlesex Water an industry rank of 168 out of 265 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on MSEX. BidaskClub cut Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine raised Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research cut Middlesex Water from a “hold” rating to a “sell” rating in a research note on Friday, August 4th.

Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Middlesex Water by 4.1% in the second quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock valued at $162,000 after buying an additional 161 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Middlesex Water during the second quarter valued at about $207,000. Russell Investments Group Ltd. acquired a new stake in Middlesex Water during the first quarter valued at about $235,000. Bank of Montreal Can boosted its stake in Middlesex Water by 19.7% in the first quarter. Bank of Montreal Can now owns 6,643 shares of the utilities provider’s stock valued at $245,000 after buying an additional 1,094 shares during the last quarter. Finally, Stephens Inc. AR acquired a new stake in Middlesex Water during the second quarter valued at about $305,000. 48.93% of the stock is currently owned by institutional investors.

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Middlesex Water (MSEX) opened at 38.15 on Friday. The firm has a market cap of $623.26 million, a PE ratio of 28.79 and a beta of 0.40. Middlesex Water has a 12-month low of $32.23 and a 12-month high of $44.48. The stock’s 50 day moving average price is $39.24 and its 200-day moving average price is $37.50.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.05. Middlesex Water had a net margin of 16.46% and a return on equity of 9.95%. The firm had revenue of $33.01 million for the quarter, compared to analysts’ expectations of $34 million. Equities research analysts anticipate that Middlesex Water will post $1.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a dividend of $0.2113 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.21%. Middlesex Water’s dividend payout ratio (DPR) is currently 63.91%.

Middlesex Water Company Profile

Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.

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