Middlesex Water (NASDAQ:MSEX) CFO A Bruce Oconnor sold 2,500 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $66.26, for a total value of $165,650.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Middlesex Water stock opened at $67.18 on Wednesday. Middlesex Water has a 1-year low of $48.79 and a 1-year high of $72.41. The company has a market capitalization of $1.07 billion, a PE ratio of 32.77 and a beta of 0.25. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.50 and a quick ratio of 0.43. The business has a 50-day moving average of $65.81 and a 200-day moving average of $63.37.
Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. Middlesex Water had a return on equity of 11.75% and a net margin of 25.78%. The firm had revenue of $31.77 million during the quarter, compared to analyst estimates of $32.00 million. On average, equities analysts expect that Middlesex Water will post 2.09 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MSEX. Nuveen Asset Management LLC raised its position in shares of Middlesex Water by 29.2% during the 1st quarter. Nuveen Asset Management LLC now owns 80,345 shares of the utilities provider’s stock valued at $4,830,000 after acquiring an additional 18,181 shares in the last quarter. Barclays PLC raised its stake in Middlesex Water by 105.2% during the fourth quarter. Barclays PLC now owns 16,225 shares of the utilities provider’s stock worth $1,031,000 after acquiring an additional 8,319 shares during the period. Alliancebernstein L.P. lifted its holdings in Middlesex Water by 35.3% in the first quarter. Alliancebernstein L.P. now owns 30,941 shares of the utilities provider’s stock worth $1,860,000 after acquiring an additional 8,072 shares during the last quarter. Swiss National Bank boosted its stake in Middlesex Water by 6.6% in the first quarter. Swiss National Bank now owns 33,762 shares of the utilities provider’s stock valued at $2,030,000 after acquiring an additional 2,100 shares during the period. Finally, Eaton Vance Management grew its holdings in shares of Middlesex Water by 21.9% during the first quarter. Eaton Vance Management now owns 347,075 shares of the utilities provider’s stock valued at $20,866,000 after purchasing an additional 62,285 shares during the last quarter. 58.95% of the stock is owned by institutional investors.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Middlesex Water from a “hold” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a research report on Friday, May 8th. BidaskClub lowered shares of Middlesex Water from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 25th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Middlesex Water currently has a consensus rating of “Buy” and an average target price of $73.00.
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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