Middlesex Water (NASDAQ:MSEX) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Middlesex Water shares rose above their 200-day moving average, trading as high as $57.03 and last changing hands at $56.98. The move came with volume of 159,197 shares.
• Wall Street sentiment is cautiously positive, with the stock carrying a consensus rating of “Moderate Buy” and an average price target of $60.67. Recent analyst actions included upgrades from Weiss Ratings and Wall Street Zen, while New Street Research set a $64 target.
• The company continues to show steady utility fundamentals, reporting quarterly EPS of $0.57 in line with estimates and declaring a $0.36 quarterly dividend. That works out to an annualized dividend yield of 2.5% and a payout ratio of 60%.

Middlesex Water Company (NASDAQ:MSEX - Get Free Report) 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 changing hands.

Wall Street Analyst Weigh In

MSEX has been the topic of several analyst reports. Weiss Ratings raised Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. New Street Research set a $64.00 target price on Middlesex Water in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded Middlesex Water from a "sell" rating to a "hold" rating in a research note on Saturday, May 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.67.

Middlesex Water Stock Performance

The firm's 50 day moving average is $53.38 and its 200-day moving average is $52.90. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 23.74 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 (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, meeting the consensus estimate of $0.57. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%. The company had revenue of $48.71 million for the quarter, compared to analyst estimates of $49.75 million.

Middlesex Water Announces Dividend

The firm also recently announced 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 was Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.5%. Middlesex Water's dividend payout ratio (DPR) is 60.00%.

Hedge Funds Weigh In On Middlesex Water

Several institutional investors and hedge funds have recently modified their holdings of MSEX. Parallel Advisors LLC boosted its position in Middlesex Water by 68.6% during the first quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider's stock worth $27,000 after purchasing an additional 212 shares in the last quarter. Western Wealth Management LLC acquired a new stake in Middlesex Water in the first quarter valued at approximately $33,000. Versant Capital Management Inc increased its position in shares of Middlesex Water by 328.9% in the second quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider's stock valued at $38,000 after buying an additional 523 shares in the last quarter. KBC Group NV purchased a new stake in shares of Middlesex Water in the first quarter valued at approximately $45,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Middlesex Water during the 1st quarter worth approximately $114,000. 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.

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