Middlesex Water (NASDAQ:MSEX) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Middlesex Water Company (NASDAQ:MSEX) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $53.64 and traded as high as $59.08. Middlesex Water shares last traded at $58.73, with a volume of 77,352 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on MSEX. Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Robert W. Baird set a $66.00 price target on Middlesex Water in a report on Friday, July 31st. Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, New Street Research set a $64.00 price target on Middlesex Water in a report on Thursday, July 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Middlesex Water Trading Down 0.2%

The company has a market cap of $1.11 billion, a P/E ratio of 22.68 and a beta of 0.75. The business has a fifty day simple moving average of $55.63 and a 200 day simple moving average of $53.64. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.50.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The business had revenue of $56.36 million for the quarter, compared to analysts’ expectations of $54.51 million. Middlesex Water had a return on equity of 9.59% and a net margin of 23.26%.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, August 17th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. Middlesex Water’s dividend payout ratio (DPR) is 55.60%.

Insider Buying and Selling

In related news, VP Lorrie Beth Ginegaw sold 615 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $57.61, for a total value of $35,430.15. Following the sale, the vice president directly owned 3,978 shares in the company, valued at $229,172.58. The trade was a 13.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Middlesex Water during the 2nd quarter valued at about $176,031,000. Morgan Stanley raised its holdings in shares of Middlesex Water by 112.0% during the 4th quarter. Morgan Stanley now owns 1,066,578 shares of the utilities provider’s stock valued at $53,777,000 after purchasing an additional 563,457 shares in the last quarter. Legal & General Group Plc bought a new position in Middlesex Water during the second quarter valued at about $24,570,000. Bank of New York Mellon Corp acquired a new stake in Middlesex Water in the 2nd quarter worth approximately $10,054,000. Finally, Nuance Investments LLC bought a new position in Middlesex Water in the 2nd quarter worth $4,820,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Company Profile

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.