Middlesex Water (NASDAQ:MSEX) Coverage Initiated by Analysts at Zacks Research

Key Points

• Zacks Research initiated coverage of Middlesex Water with a “Hold” rating. Across analysts, the stock has a “Moderate Buy” consensus and an average price target of $60.75.
• Middlesex Water reported quarterly earnings of $0.95 per share, beating the $0.82 consensus; revenue of $60.21 million also came in slightly above expectations.
• Shares opened at $59.50, near the 12-month high of $60.72. Huntington recently initiated coverage with a “Strong Buy,” while another cited analysis raised concerns that the shares may be overvalued.

Analysts at Zacks Research began coverage on shares of Middlesex Water (NASDAQ:MSEX - Get Free Report) in a research note issued to investors on Wednesday, Zacks reports. The brokerage set a "hold" rating on the utilities provider's stock.

MSEX has been the topic of a number of other research reports. New Street Research set a $64.00 target price on shares of Middlesex Water in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Middlesex Water from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, October 12th. Freedom Broker boosted their price target on shares of Middlesex Water from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday. Huntington started coverage on shares of Middlesex Water in a report on Sunday, November 1st. They issued a "strong-buy" rating on the stock. Finally, Robert W. Baird set a $66.00 price objective on shares of Middlesex Water in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.75.

Middlesex Water Price Performance

Shares of Middlesex Water stock opened at $59.50 on Wednesday. The business has a 50 day simple moving average of $55.50 and a two-hundred day simple moving average of $54.28. Middlesex Water has a 12 month low of $48.19 and a 12 month high of $60.72. The stock has a market capitalization of $1.14 billion, a P/E ratio of 21.48 and a beta of 0.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.51 and a quick ratio of 0.42.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its earnings results on Thursday, October 29th. The utilities provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.13. Middlesex Water had a return on equity of 10.08% and a net margin of 24.50%. The business had revenue of $60.21 million for the quarter, compared to analysts' expectations of $59.90 million. As a group, analysts predict that Middlesex Water will post 2.82 EPS for the current fiscal year.

Institutional Trading of Middlesex Water

A number of large investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its stake in Middlesex Water by 4.2% in the third quarter. Fifth Third Bancorp now owns 4,235 shares of the utilities provider's stock worth $224,000 after acquiring an additional 170 shares during the last quarter. Maryland State Retirement & Pension System purchased a new stake in shares of Middlesex Water in the 3rd quarter valued at approximately $218,000. Jacobi Capital Management LLC purchased a new stake in shares of Middlesex Water in the 3rd quarter valued at approximately $32,000. Penn Capital Management Company LLC increased its position in shares of Middlesex Water by 2.4% in the 3rd quarter. Penn Capital Management Company LLC now owns 55,585 shares of the utilities provider's stock valued at $2,944,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Ethic Inc. raised its holdings in shares of Middlesex Water by 5.7% in the 3rd quarter. Ethic Inc. now owns 4,315 shares of the utilities provider's stock valued at $229,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 79.52% of the company's stock.

Key Headlines Impacting Middlesex Water

Here are the key news stories impacting Middlesex Water this week:

• Positive Sentiment: Huntington initiated coverage with a “Strong-Buy” rating and forecasts earnings of $2.82 per share in 2026 and $2.80 in 2027, rising to $2.92 in 2028. Its estimates provide a positive outlook, though they are forecasts rather than new company guidance. Huntington rating information
• Neutral Sentiment: The latest reported quarter was stronger than expected: Middlesex Water earned $0.95 per share versus the $0.82 consensus and reported revenue of $60.21 million, slightly above estimates. The article also cites an increased dividend, supporting income appeal, but provides no amount. Valuation, earnings and dividend article
• Negative Sentiment: The newest article argues MSEX could be about 45% above fair value even after its earnings and dividend improvements. That valuation concern may limit upside or weigh on the shares, particularly with the stock near its 52-week high.

Middlesex Water Company Profile

Middlesex Water Company NASDAQ: MSEX is a regulated water and wastewater utility that owns and operates systems serving residential, commercial, industrial and municipal customers. Its services include the production, treatment, distribution and sale of potable water, as well as wastewater collection and treatment.

Founded in 1897, the company primarily serves communities in New Jersey and Delaware through its regulated utility operations. Its New Jersey service area includes portions of Middlesex, Union, Somerset and Mercer counties, while its Delaware operations serve customers through the Tidewater Utilities subsidiary.

Middlesex Water also provides contract operations, maintenance and related services for municipal and other public water and wastewater systems.

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