Middlesex Water (NASDAQ:MSEX) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Middlesex Water Company (NASDAQ:MSEX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.90 and traded as high as $57.03. Middlesex Water shares last traded at $56.98, with a volume of 159,197 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, New Street Research set a $64.00 price target on shares of Middlesex Water in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Middlesex Water presently has an average rating of “Moderate Buy” and an average target price of $60.67.

Middlesex Water Stock Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.32. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 23.93 and a beta of 0.78. The firm has a fifty day moving average of $53.50 and a 200 day moving average of $52.93.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $48.71 million for the quarter, compared to analyst estimates of $49.75 million. Middlesex Water had a return on equity of 9.08% and a net margin of 22.07%.

Middlesex Water Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. Middlesex Water’s payout ratio is presently 60.00%.

Institutional Investors Weigh In On Middlesex Water

A number of hedge funds have recently modified their holdings of the company. Versant Capital Management Inc increased its position in Middlesex Water by 328.9% during the second quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 523 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Middlesex Water by 68.6% in the 1st quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 212 shares during the last quarter. Glenmede Trust Co. NA acquired a new position in Middlesex Water in the 1st quarter valued at about $207,000. Western Wealth Management LLC purchased a new stake in shares of Middlesex Water in the 1st quarter valued at approximately $33,000. Finally, Bank of America Corp DE grew its stake in shares of Middlesex Water by 11.3% in the 1st quarter. Bank of America Corp DE now owns 69,321 shares of the utilities provider’s stock valued at $3,608,000 after buying an additional 7,031 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.