Middlesex Water (NASDAQ:MSEX) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Middlesex Water from a "sell" to a "hold" rating, adding to a generally positive analyst backdrop. MarketBeat says the stock still carries a consensus rating of Moderate Buy with an average price target of $59.00.
• The company recently reported Q1 earnings of $0.57 per share, matching analyst expectations, while revenue came in at $48.71 million versus estimates of $49.75 million. The stock opened at $51.56 and has traded between $44.17 and $62.17 over the past year.
• Insider and institutional activity remained notable, with Director Robert N. Hoglund buying 2,000 shares in February. Institutional investors now own 79.52% of the stock, and several firms increased their positions recently.

Middlesex Water (NASDAQ:MSEX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Other equities analysts have also issued reports about the company. Loop Capital set a $55.00 target price on Middlesex Water in a research report on Wednesday, February 25th. Weiss Ratings raised Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Middlesex Water has a consensus rating of "Moderate Buy" and an average price target of $59.00.

Middlesex Water Stock Performance

Middlesex Water stock opened at $51.56 on Friday. The stock's 50 day moving average price is $52.65 and its 200 day moving average price is $52.88. The firm has a market capitalization of $960.05 million, a PE ratio of 21.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. Middlesex Water has a one year low of $44.17 and a one year high of $62.17.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The firm 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%.

Insider Activity

In other Middlesex Water news, Director Robert N. Hoglund bought 2,000 shares of the business's stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $54.31 per share, with a total value of $108,620.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $108,620. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Middlesex Water

Institutional investors have recently made changes to their positions in the company. Penn Capital Management Company LLC increased its holdings in shares of Middlesex Water by 129.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 39,705 shares of the utilities provider's stock valued at $2,149,000 after acquiring an additional 22,422 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Middlesex Water by 23.3% in the 3rd quarter. Principal Financial Group Inc. now owns 126,343 shares of the utilities provider's stock valued at $6,838,000 after acquiring an additional 23,911 shares during the last quarter. TSP Capital Management Group LLC increased its holdings in shares of Middlesex Water by 57.8% in the 4th quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider's stock valued at $9,483,000 after acquiring an additional 68,854 shares during the last quarter. Northstar Asset Management Inc. increased its holdings in shares of Middlesex Water by 52.0% in the 3rd quarter. Northstar Asset Management Inc. now owns 51,795 shares of the utilities provider's stock valued at $2,803,000 after acquiring an additional 17,723 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Middlesex Water in the 3rd quarter valued at approximately $737,000. 79.52% of the stock is currently owned by institutional investors.

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.

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