Analysts Set $40.00 Target Price for Middlesex Water (MSEX)

Middlesex Water (NASDAQ:MSEX) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price target of $40.00 for the company and are forecasting that the company will post $0.27 EPS for the current quarter, according to Zacks. Zacks has also given Middlesex Water an industry rank of 179 out of 265 based on the ratings given to its competitors.

A number of equities analysts have weighed in on the stock. BidaskClub cut shares of Middlesex Water from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Zacks Investment Research cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. ValuEngine upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. Finally, Janney Montgomery Scott reduced their price objective on shares of Middlesex Water from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, March 12th.

NASDAQ:MSEX opened at $37.81 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.45 and a debt-to-equity ratio of 0.61. The firm has a market cap of $602.08, a price-to-earnings ratio of 26.68 and a beta of 0.43. Middlesex Water has a fifty-two week low of $32.23 and a fifty-two week high of $46.74.

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

In other Middlesex Water news, Director Walter G. Reinhard sold 1,000 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $36.97, for a total transaction of $36,970.00. Following the completion of the transaction, the director now directly owns 81 shares in the company, valued at $2,994.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.48% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning raised its position in shares of Middlesex Water by 23.1% in the fourth quarter. Creative Planning now owns 7,284 shares of the utilities provider’s stock valued at $291,000 after buying an additional 1,369 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Middlesex Water by 20.7% in the fourth quarter. Private Advisor Group LLC now owns 8,688 shares of the utilities provider’s stock valued at $278,000 after buying an additional 1,488 shares during the last quarter. Nuance Investments LLC raised its position in shares of Middlesex Water by 2.3% in the fourth quarter. Nuance Investments LLC now owns 89,002 shares of the utilities provider’s stock valued at $3,552,000 after buying an additional 2,012 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Middlesex Water by 32.6% in the third quarter. Russell Investments Group Ltd. now owns 9,696 shares of the utilities provider’s stock valued at $381,000 after buying an additional 2,383 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Middlesex Water in the fourth quarter valued at about $107,000. Institutional investors and hedge funds own 50.43% 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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