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

Brokers have set a 12-month consensus target price 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 given Middlesex Water an industry rank of 205 out of 265 based on the ratings given to related companies.

MSEX has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. ValuEngine upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Janney Montgomery Scott reiterated a “buy” rating and set a $44.00 price objective on shares of Middlesex Water in a research note on Wednesday.

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Middlesex Water (NASDAQ:MSEX) opened at 42.74 on Thursday. Middlesex Water has a 52-week low of $32.23 and a 52-week high of $44.48. The stock’s 50 day moving average price is $38.84 and its 200-day moving average price is $38.03. The stock has a market capitalization of $698.24 million, a PE ratio of 32.26 and a beta of 0.41.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $34.00 million. On average, equities analysts expect that Middlesex Water will post $1.48 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. BB&T Investment Services Inc. acquired a new position in Middlesex Water in the 2nd quarter worth approximately $119,000. Legal & General Group Plc boosted its stake in shares of Middlesex Water by 4.1% during the 2nd 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 period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Middlesex Water during the 2nd quarter valued at $207,000. ELCO Management Co. LLC acquired a new stake in shares of Middlesex Water during the 2nd quarter valued at $208,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Middlesex Water during the 1st quarter valued at $235,000. 49.05% of the stock is owned by hedge funds and other institutional investors.

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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