Middlesex Water (NASDAQ:MSEX) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokerages have set a 1 year consensus target price of $47.00 for the company and are expecting that the company will post $0.65 earnings per share for the current quarter, according to Zacks. Zacks has also given Middlesex Water an industry rank of 204 out of 255 based on the ratings given to its competitors.

A number of research firms have weighed in on MSEX. Zacks Investment Research lowered shares of Middlesex Water from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. ValuEngine raised shares of Middlesex Water from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, BidaskClub lowered shares of Middlesex Water from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 25th.

NASDAQ:MSEX traded up $0.06 during trading hours on Friday, reaching $47.90. The company had a trading volume of 408 shares, compared to its average volume of 28,412. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $788.64 million, a price-to-earnings ratio of 34.54 and a beta of 0.42. Middlesex Water has a twelve month low of $33.96 and a twelve month high of $48.36.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.14. Middlesex Water had a net margin of 19.56% and a return on equity of 11.34%. The firm had revenue of $34.92 million for the quarter, compared to analyst estimates of $34.00 million. equities analysts predict that Middlesex Water will post 1.84 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 15th were paid a $0.224 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, August 14th. Middlesex Water’s dividend payout ratio (DPR) is 64.49%.

In other Middlesex Water news, VP Lorrie Beth Ginegaw sold 760 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $44.45, for a total value of $33,782.00. Following the transaction, the vice president now directly owns 8,131 shares of the company’s stock, valued at $361,422.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP A Bruce Oconnor sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $42.75, for a total transaction of $171,000.00. Following the completion of the transaction, the vice president now directly owns 19,628 shares in the company, valued at $839,097. The disclosure for this sale can be found here. Insiders sold 5,260 shares of company stock worth $226,417 over the last ninety days. Insiders own 3.48% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its position in shares of Middlesex Water by 6,000.0% during the second quarter. Sei Investments Co. now owns 2,562 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 2,520 shares in the last quarter. Hancock Holding Co. raised its position in Middlesex Water by 26.1% in the first quarter. Hancock Holding Co. now owns 7,195 shares of the utilities provider’s stock worth $264,000 after acquiring an additional 1,488 shares during the period. JPMorgan Chase & Co. raised its position in Middlesex Water by 80.7% in the first quarter. JPMorgan Chase & Co. now owns 8,098 shares of the utilities provider’s stock worth $298,000 after acquiring an additional 3,616 shares during the period. Private Advisor Group LLC bought a new stake in Middlesex Water in the second quarter worth about $333,000. Finally, TD Asset Management Inc. raised its position in Middlesex Water by 69.3% in the second quarter. TD Asset Management Inc. now owns 10,751 shares of the utilities provider’s stock worth $453,000 after acquiring an additional 4,400 shares during the period. 53.26% of the stock is currently owned by institutional investors.

About Middlesex Water

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.

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