Middlesex Water (NASDAQ:MSEX) had its target price lowered by analysts at Janney Montgomery Scott from $43.00 to $40.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Janney Montgomery Scott’s price objective would indicate a potential upside of 9.23% from the stock’s previous close.
A number of other brokerages have also recently weighed in on MSEX. BidaskClub cut shares of Middlesex Water from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Zacks Investment Research cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th.
Middlesex Water (NASDAQ:MSEX) opened at $36.62 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.60. The stock has a market cap of $598.81, a P/E ratio of 26.54 and a beta of 0.45. Middlesex Water has a 1-year low of $32.23 and a 1-year high of $46.74.
Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Middlesex Water during the fourth quarter worth approximately $107,000. Teacher Retirement System of Texas bought a new stake in Middlesex Water during the fourth quarter worth approximately $222,000. Cambridge Investment Research Advisors Inc. bought a new stake in Middlesex Water during the fourth quarter worth approximately $228,000. Trustcore Financial Services LLC bought a new stake in Middlesex Water during the fourth quarter worth approximately $232,000. Finally, Private Advisor Group LLC boosted its holdings in Middlesex Water by 20.7% during the fourth quarter. Private Advisor Group LLC now owns 8,688 shares of the utilities provider’s stock worth $278,000 after buying an additional 1,488 shares in the last quarter. Hedge funds and other institutional investors own 50.16% 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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