Middlesex Water (NASDAQ:MSEX) Shares Pass Above 200 Day Moving Average – Should You Sell?

Middlesex Water Company (NASDAQ:MSEX) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $52.60 and traded as high as $57.22. Middlesex Water shares last traded at $56.16, with a volume of 183,478 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MSEX shares. Wall Street Zen raised Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Middlesex Water has an average rating of “Moderate Buy” and an average target price of $56.67.

Middlesex Water Trading Up 0.2%

The company has a market capitalization of $1.05 billion, a P/E ratio of 23.40 and a beta of 0.79. The business has a 50 day moving average price of $52.58 and a 200 day moving average price of $52.60. The company has a current ratio of 0.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.74.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $48.71 million for the quarter, compared to analyst estimates of $49.75 million. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.36 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.44 annualized dividend and a yield of 2.6%. Middlesex Water’s dividend payout ratio (DPR) is 60.00%.

Hedge Funds Weigh In On Middlesex Water

Institutional investors and hedge funds have recently made changes to their positions in the company. Penn Capital Management Company LLC raised its position in shares of Middlesex Water by 129.7% during the third quarter. Penn Capital Management Company LLC now owns 39,705 shares of the utilities provider’s stock worth $2,149,000 after purchasing an additional 22,422 shares during the period. TSP Capital Management Group LLC grew its position in shares of Middlesex Water by 57.8% in the 4th quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider’s stock valued at $9,483,000 after purchasing an additional 68,854 shares during the period. Vanguard Group Inc. increased its stake in Middlesex Water by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,398,851 shares of the utilities provider’s stock worth $70,530,000 after purchasing an additional 25,363 shares in the last quarter. Abacus Wealth Partners LLC bought a new stake in Middlesex Water during the 4th quarter worth approximately $609,000. Finally, International Assets Investment Management LLC acquired a new stake in Middlesex Water during the 4th quarter worth approximately $128,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.