Middlesex Water (NASDAQ:MSEX) Upgraded to "Hold" at StockNews.com

Middlesex Water (NASDAQ:MSEX - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Monday.

A number of other research firms also recently weighed in on MSEX. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target for the company in a research report on Monday. Bank of America started coverage on shares of Middlesex Water in a research report on Wednesday, December 11th. They issued an "underperform" rating and a $56.00 price objective on the stock.

Middlesex Water Trading Up 5.2 %

Shares of Middlesex Water stock traded up $3.15 during trading hours on Monday, hitting $64.24. The company's stock had a trading volume of 232,983 shares, compared to its average volume of 120,113. The company has a market capitalization of $1.15 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. The stock has a 50 day moving average of $51.47 and a 200 day moving average of $59.18. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $70.73.

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Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.13. The company had revenue of $47.11 million during the quarter, compared to the consensus estimate of $45.00 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Analysts predict that Middlesex Water will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On Middlesex Water

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Middlesex Water during the 3rd quarter worth about $225,000. Creative Financial Designs Inc. ADV grew its holdings in Middlesex Water by 5.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 4,236 shares of the utilities provider's stock valued at $276,000 after buying an additional 201 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in Middlesex Water during the 3rd quarter worth $210,000. Victory Capital Management Inc. acquired a new stake in shares of Middlesex Water during the third quarter worth $230,000. Finally, Cable Hill Partners LLC bought a new stake in shares of Middlesex Water in the third quarter valued at about $292,000. Institutional investors own 79.52% of the company's stock.

About Middlesex Water

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