Middlesex Water (NASDAQ:MSEX) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

MSEX has been the subject of several other research reports. Zacks Investment Research lowered shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. 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, October 4th.

Middlesex Water (NASDAQ:MSEX) traded down $0.53 during midday trading on Friday, hitting $37.67. 74,627 shares of the company traded hands, compared to its average volume of 38,242. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.43 and a current ratio of 0.51. The company has a market cap of $607.21, a price-to-earnings ratio of 30.14 and a beta of 0.45. Middlesex Water has a 1 year low of $32.23 and a 1 year high of $46.74.

In related news, VP A Bruce Oconnor sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $43.83, for a total transaction of $175,320.00. Following the completion of the transaction, the vice president now owns 16,803 shares in the company, valued at approximately $736,475.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Gerard L. Esposito sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $42.89, for a total transaction of $72,913.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,700 shares of company stock valued at $293,423. 3.48% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its position in Middlesex Water by 26.2% during the 2nd quarter. ProShare Advisors LLC now owns 203,745 shares of the utilities provider’s stock worth $8,068,000 after purchasing an additional 42,346 shares during the last quarter. Renaissance Technologies LLC grew its position in Middlesex Water by 6.5% during the 2nd quarter. Renaissance Technologies LLC now owns 528,400 shares of the utilities provider’s stock worth $20,925,000 after purchasing an additional 32,400 shares during the last quarter. WFG Advisors LP grew its position in Middlesex Water by 21.4% during the 2nd quarter. WFG Advisors LP now owns 115,668 shares of the utilities provider’s stock worth $4,580,000 after purchasing an additional 20,415 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Middlesex Water by 62.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 51,682 shares of the utilities provider’s stock worth $2,046,000 after purchasing an additional 19,802 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Middlesex Water by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 586,412 shares of the utilities provider’s stock worth $23,029,000 after purchasing an additional 19,647 shares during the last quarter. Hedge funds and other institutional investors own 50.28% of the company’s stock.

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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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