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 Wednesday.

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 issued reports on the stock. ValuEngine upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th.

Shares of Middlesex Water (NASDAQ MSEX) opened at 40.47 on Wednesday. The firm has a 50-day moving average price of $38.71 and a 200-day moving average price of $37.99. The stock has a market cap of $661.16 million, a price-to-earnings ratio of 30.54 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 announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.05). The company had revenue of $33.01 million for the quarter, compared to analysts’ expectations of $34.00 million. Middlesex Water had a return on equity of 9.95% and a net margin of 16.46%. Equities analysts expect that Middlesex Water will post $1.48 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of MSEX. Ameriprise Financial Inc. boosted its holdings in Middlesex Water by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 10,852 shares of the utilities provider’s stock valued at $401,000 after acquiring an additional 130 shares during the last quarter. Royal Bank of Canada grew its position in Middlesex Water by 0.5% during the second quarter. Royal Bank of Canada now owns 31,030 shares of the utilities provider’s stock valued at $1,346,000 after acquiring an additional 141 shares during the period. Aperio Group LLC grew its position in Middlesex Water by 1.1% during the second quarter. Aperio Group LLC now owns 14,832 shares of the utilities provider’s stock valued at $587,000 after acquiring an additional 155 shares during the period. Legal & General Group Plc grew its position in Middlesex Water by 4.1% during the second quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 161 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in Middlesex Water by 1.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 16,953 shares of the utilities provider’s stock valued at $735,000 after acquiring an additional 241 shares during the period. 49.05% of the stock is currently owned by institutional investors and hedge funds.

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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