Middlesex Water (NASDAQ:MSEX – Get Rating) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Thursday.
MSEX has been the topic of several other research reports. Janney Montgomery Scott upgraded Middlesex Water from a "neutral" rating to a "buy" rating in a report on Friday, June 24th. TheStreet upgraded shares of Middlesex Water from a "c+" rating to a "b-" rating in a research note on Monday, July 25th. Finally, Robert W. Baird lowered their price objective on shares of Middlesex Water from $102.00 to $99.00 in a research note on Monday, May 2nd.
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Middlesex Water Trading Down 1.1 %
Shares of NASDAQ:MSEX traded down $1.00 during mid-day trading on Thursday, reaching $91.95. 59,446 shares of the company were exchanged, compared to its average volume of 113,434. Middlesex Water has a 1 year low of $75.77 and a 1 year high of $121.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.50 and a quick ratio of 0.42. The firm's 50-day simple moving average is $87.79 and its 200 day simple moving average is $93.42. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 41.05 and a beta of 0.55.
Insider Buying and Selling
In other Middlesex Water news, VP Lorrie Beth Ginegaw sold 620 shares of the stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $80.34, for a total value of $49,810.80. Following the sale, the vice president now owns 155 shares of the company's stock, valued at approximately $12,452.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.92% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management purchased a new stake in shares of Middlesex Water during the 1st quarter worth $32,000. Meeder Asset Management Inc. boosted its position in shares of Middlesex Water by 67.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 393 shares of the utilities provider's stock worth $34,000 after acquiring an additional 159 shares in the last quarter. Allegheny Financial Group LTD purchased a new position in shares of Middlesex Water in the 4th quarter valued at about $47,000. UMB Bank N A MO acquired a new stake in shares of Middlesex Water during the 4th quarter worth about $48,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Middlesex Water during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 68.14% of the company's stock.
Middlesex Water Company Profile
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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.
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