Middlesex Water (MSEX) Raised to “Sell” at BidaskClub

Middlesex Water (NASDAQ:MSEX) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.

Separately, Zacks Investment Research downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st.

Middlesex Water (NASDAQ:MSEX) opened at $37.06 on Friday. The stock has a market capitalization of $605.78, a PE ratio of 29.65 and a beta of 0.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.43. Middlesex Water has a 52 week low of $32.23 and a 52 week high of $46.74.

In other news, 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 value of $45,190.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $175,320.00. Following the completion of the transaction, the vice president now directly owns 16,803 shares in the company, valued at $736,475.49. The disclosure for this sale can be found here. 3.48% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in MSEX. BlackRock Inc. lifted its stake in shares of Middlesex Water by 2.3% in the 4th quarter. BlackRock Inc. now owns 1,213,358 shares of the utilities provider’s stock valued at $48,425,000 after purchasing an additional 26,918 shares during the period. WFG Advisors LP increased its position in Middlesex Water by 21.4% in the 2nd quarter. WFG Advisors LP now owns 115,668 shares of the utilities provider’s stock valued at $4,580,000 after buying an additional 20,415 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Middlesex Water by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 586,412 shares of the utilities provider’s stock valued at $23,029,000 after buying an additional 19,647 shares in the last quarter. AHL Partners LLP bought a new stake in Middlesex Water in the 2nd quarter valued at about $602,000. Finally, Cortina Asset Management LLC increased its position in Middlesex Water by 10.6% in the 3rd quarter. Cortina Asset Management LLC now owns 147,357 shares of the utilities provider’s stock valued at $5,787,000 after buying an additional 14,103 shares in the last quarter. 49.95% of the stock is currently owned by institutional investors.

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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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