Middlesex Water (NASDAQ:MSEX) Rating Lowered to Sell at StockNews.com

Middlesex Water (NASDAQ:MSEX) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other research firms have also recently weighed in on MSEX. Robert W. Baird raised Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Monday, March 3rd. Bank of America started coverage on Middlesex Water in a research note on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 target price on the stock. Finally, Baird R W raised shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd.

Middlesex Water Stock Down 3.4 %

Shares of NASDAQ MSEX opened at $60.79 on Tuesday. Middlesex Water has a 52-week low of $45.42 and a 52-week high of $70.73. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. The stock has a 50 day moving average price of $52.30 and a 200 day moving average price of $59.23. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.50 and a beta of 0.85.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.13. The company had revenue of $47.11 million for the quarter, compared to analyst estimates of $45.00 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. During the same period last year, the company posted $0.32 earnings per share. Sell-side analysts expect that Middlesex Water will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new position in Middlesex Water during the third quarter worth about $225,000. Victory Capital Management Inc. purchased a new position in Middlesex Water in the 3rd quarter valued at approximately $230,000. Cable Hill Partners LLC purchased a new stake in Middlesex Water during the 3rd quarter worth about $292,000. Intech Investment Management LLC acquired a new stake in shares of Middlesex Water in the 3rd quarter valued at $271,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Middlesex Water by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,281 shares of the utilities provider’s stock worth $10,913,000 after purchasing an additional 6,844 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Company Profile

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.