Shares of Middlesex Water Company (NASDAQ:MSEX) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Analysts have set a one year consensus price objective of $39.00 for the company and are expecting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given Middlesex Water an industry rank of 211 out of 265 based on the ratings given to its competitors.

A number of analysts have recently commented on the company. BidaskClub downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, ValuEngine upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th.

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Several institutional investors and hedge funds have recently modified their holdings of the company. WFG Advisors LP boosted its stake in shares of Middlesex Water by 21.4% in the second quarter. WFG Advisors LP now owns 115,668 shares of the utilities provider’s stock worth $4,580,000 after buying an additional 20,415 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in Middlesex Water during the second quarter worth approximately $119,000. Raymond James Financial Services Advisors Inc. boosted its position in Middlesex Water by 46.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,599 shares of the utilities provider’s stock worth $1,251,000 after purchasing an additional 10,040 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Middlesex Water by 6.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,308 shares of the utilities provider’s stock worth $527,000 after purchasing an additional 780 shares in the last quarter. Finally, State Street Corp boosted its position in Middlesex Water by 1.0% during the second quarter. State Street Corp now owns 333,238 shares of the utilities provider’s stock worth $13,202,000 after purchasing an additional 3,154 shares in the last quarter. Hedge funds and other institutional investors own 49.11% of the company’s stock.

Shares of Middlesex Water (NASDAQ MSEX) opened at 38.98 on Friday. The firm has a market cap of $636.82 million, a P/E ratio of 29.42 and a beta of 0.41. The company has a 50-day moving average of $38.64 and a 200 day moving average of $37.66. Middlesex Water has a 52-week low of $32.23 and a 52-week high of $44.48.

Middlesex Water (NASDAQ:MSEX) last issued 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 analysts’ expectations of $34 million. On average, equities analysts expect that Middlesex Water will post $1.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid a $0.2113 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.17%. Middlesex Water’s payout ratio is 63.91%.

About Middlesex Water

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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