BidaskClub Upgrades Middlesex Water (MSEX) to Sell

BidaskClub upgraded shares of Middlesex Water (NASDAQ:MSEX) from a strong sell rating to a sell rating in a report published on Tuesday.

MSEX has been the topic of a number of other reports. Janney Montgomery Scott cut their price target on shares of Middlesex Water from $43.00 to $40.00 and set a buy rating on the stock in a research report on Monday, March 12th. Zacks Investment Research downgraded shares of Middlesex Water from a buy rating to a hold rating in a research report on Thursday, January 4th. Finally, ValuEngine upgraded shares of Middlesex Water from a sell rating to a hold rating in a research report on Thursday, March 15th.

Shares of Middlesex Water (NASDAQ MSEX) opened at $35.50 on Tuesday. The firm has a market cap of $600.12, a P/E ratio of 25.72 and a beta of 0.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.45 and a quick ratio of 0.39. Middlesex Water has a 52-week low of $32.23 and a 52-week high of $46.74.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Friday, March 9th. The utilities provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $31.46 million during the quarter, compared to analyst estimates of $34.00 million. Middlesex Water had a net margin of 17.44% and a return on equity of 10.16%. research analysts predict that Middlesex Water will post 1.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were issued a dividend of $0.2238 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.90 annualized dividend and a yield of 2.52%. Middlesex Water’s dividend payout ratio (DPR) is currently 64.49%.

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Middlesex Water during the 4th quarter worth approximately $107,000. Teacher Retirement System of Texas acquired a new stake in Middlesex Water during the 4th quarter worth approximately $222,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Middlesex Water during the 4th quarter worth approximately $228,000. Trustcore Financial Services LLC acquired a new stake in Middlesex Water during the 4th quarter worth approximately $232,000. Finally, Creative Planning raised its holdings in Middlesex Water by 23.1% during the 4th quarter. Creative Planning now owns 7,284 shares of the utilities provider’s stock worth $291,000 after buying an additional 1,369 shares during the period. Hedge funds and other institutional investors own 50.13% of the company’s stock.

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Middlesex Water Company Profile

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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