Middlesex Water (NASDAQ:MSEX) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Middlesex Water (NASDAQ:MSEXGet Rating) from a hold rating to a sell rating in a research note released on Tuesday morning.

Separately, TheStreet upgraded Middlesex Water from a c+ rating to a b- rating in a report on Monday, July 25th.

Middlesex Water Stock Performance

NASDAQ MSEX opened at $93.87 on Tuesday. The stock has a fifty day simple moving average of $85.01 and a 200-day simple moving average of $87.35. Middlesex Water has a twelve month low of $74.20 and a twelve month high of $121.43. The stock has a market cap of $1.66 billion, a PE ratio of 39.28 and a beta of 0.66. The company has a current ratio of 0.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.76.

Middlesex Water Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Wednesday, November 16th will be issued a dividend of $0.313 per share. This represents a $1.25 dividend on an annualized basis and a yield of 1.33%. This is a boost from Middlesex Water’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, November 15th. Middlesex Water’s dividend payout ratio (DPR) is 52.30%.

Hedge Funds Weigh In On Middlesex Water

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Middlesex Water by 7.4% in the 3rd quarter. State Street Corp now owns 1,986,258 shares of the utilities provider’s stock valued at $153,339,000 after buying an additional 137,713 shares during the period. Vanguard Group Inc. boosted its stake in shares of Middlesex Water by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,399,160 shares of the utilities provider’s stock valued at $108,016,000 after buying an additional 37,115 shares during the period. Invesco Ltd. boosted its stake in shares of Middlesex Water by 17.6% in the 1st quarter. Invesco Ltd. now owns 396,210 shares of the utilities provider’s stock valued at $41,669,000 after buying an additional 59,297 shares during the period. First Manhattan Co. boosted its stake in shares of Middlesex Water by 2.1% in the 1st quarter. First Manhattan Co. now owns 223,735 shares of the utilities provider’s stock valued at $23,530,000 after buying an additional 4,700 shares during the period. Finally, KBC Group NV boosted its stake in shares of Middlesex Water by 1.5% in the 2nd quarter. KBC Group NV now owns 203,003 shares of the utilities provider’s stock valued at $17,799,000 after buying an additional 2,941 shares during the period. 66.92% of the stock is currently owned by hedge funds and other institutional investors.

Middlesex Water Company Profile

(Get Rating)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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.

Featured Articles

Receive News & Ratings for Middlesex Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlesex Water and related companies with MarketBeat.com's FREE daily email newsletter.