Brokerages Expect Middlesex Water (MSEX) to Post $0.33 EPS

Middlesex Water (NASDAQ:MSEX) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $46.00 for the company and are predicting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned Middlesex Water an industry rank of 209 out of 265 based on the ratings given to its competitors.

A number of research analysts have weighed in on MSEX shares. Janney Montgomery Scott reissued a “buy” rating and set a $44.00 target price on shares of Middlesex Water in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Middlesex Water from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Wednesday, January 3rd. Finally, BidaskClub lowered shares of Middlesex Water from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th.

Middlesex Water (NASDAQ MSEX) opened at $37.37 on Monday. The firm has a market cap of $610.85, a price-to-earnings ratio of 29.90 and a beta of 0.45. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 0.60. Middlesex Water has a 52-week low of $32.23 and a 52-week high of $46.74.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.09). Middlesex Water had a return on equity of 9.32% and a net margin of 15.77%. equities analysts expect that Middlesex Water will post 1.4 earnings per share for the current year.

In other news, VP A Bruce Oconnor sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $43.83, for a total transaction of $175,320.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. Also, VP Bernadette M. Sohler sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $45.19, for a total transaction of $45,190.00. The disclosure for this sale can be found here. Insiders own 3.48% of the company’s stock.

Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of Middlesex Water by 24.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,550 shares of the utilities provider’s stock worth $536,000 after purchasing an additional 2,698 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Middlesex Water by 60.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 24,722 shares of the utilities provider’s stock worth $979,000 after purchasing an additional 9,348 shares during the period. Stephens Inc. AR bought a new position in shares of Middlesex Water during the 2nd quarter worth about $305,000. First Trust Advisors LP increased its stake in Middlesex Water by 11.4% in the third quarter. First Trust Advisors LP now owns 93,110 shares of the utilities provider’s stock valued at $3,656,000 after acquiring an additional 9,555 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Middlesex Water by 6.5% in the second quarter. Renaissance Technologies LLC now owns 528,400 shares of the utilities provider’s stock valued at $20,925,000 after acquiring an additional 32,400 shares during the period. Institutional investors own 50.28% of the company’s stock.

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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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