Middlesex Water Company (NASDAQ:MSEX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Middlesex Water Company treats, stores and distributes water for residential, commercial, industrial and fire prevention purposes. “

A number of other equities research analysts also recently commented on the stock. BidaskClub cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. ValuEngine upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th.

Middlesex Water (MSEX) traded up 1.51% during midday trading on Friday, reaching $38.98. The company had a trading volume of 24,098 shares. The stock has a 50-day moving average price of $38.64 and a 200 day moving average price of $37.66. The company has a market capitalization of $636.82 million, a PE ratio of 29.42 and a beta of 0.41. Middlesex Water has a 12-month low of $32.23 and a 12-month high of $44.48.

Middlesex Water (NASDAQ:MSEX) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.05. Middlesex Water had a return on equity of 9.95% and a net margin of 16.46%. The company had revenue of $33.01 million during the quarter, compared to the consensus estimate of $34 million. Equities analysts forecast that Middlesex Water will post $1.48 EPS for the current year.

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Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Middlesex Water by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 923,000 shares of the utilities provider’s stock worth $34,105,000 after buying an additional 150,958 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Middlesex Water by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 566,765 shares of the utilities provider’s stock valued at $22,444,000 after purchasing an additional 19,114 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Middlesex Water by 6.5% during the 2nd quarter. Renaissance Technologies LLC now owns 528,400 shares of the utilities provider’s stock valued at $20,925,000 after purchasing an additional 32,400 shares during the last quarter. First Manhattan Co. grew its holdings in Middlesex Water by 5.2% during the 2nd quarter. First Manhattan Co. now owns 338,897 shares of the utilities provider’s stock valued at $13,420,000 after purchasing an additional 16,800 shares during the last quarter. Finally, State Street Corp grew its holdings in Middlesex Water by 1.0% during the 2nd quarter. State Street Corp now owns 333,238 shares of the utilities provider’s stock valued at $13,202,000 after purchasing an additional 3,154 shares during the last quarter. Hedge funds and other institutional investors own 49.11% of the company’s stock.

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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