Middlesex Water (NASDAQ:MSEX) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Middlesex Water Company (NASDAQ:MSEX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $56.58 and traded as high as $56.92. Middlesex Water shares last traded at $55.70, with a volume of 124,732 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MSEX. Wall Street Zen lowered Middlesex Water from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Janney Montgomery Scott raised Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 target price on the stock in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $61.00.

Middlesex Water Price Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.39 and a current ratio of 0.46. The firm has a market capitalization of $972.52 million, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 3.56 and a beta of 0.78. The business has a fifty day moving average of $56.39 and a two-hundred day moving average of $56.56.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $44.30 million during the quarter, compared to the consensus estimate of $43.79 million. Middlesex Water had a net margin of 22.05% and a return on equity of 9.76%. As a group, research analysts predict that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a $0.34 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 2.51%. Middlesex Water's dividend payout ratio (DPR) is presently 56.43%.

Institutional Trading of Middlesex Water

Several institutional investors have recently added to or reduced their stakes in MSEX. Charles Schwab Investment Management Inc. lifted its position in shares of Middlesex Water by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 172,472 shares of the utilities provider's stock valued at $9,077,000 after acquiring an additional 5,191 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Middlesex Water in the fourth quarter valued at about $1,595,000. Raymond James Financial Inc. acquired a new stake in shares of Middlesex Water in the fourth quarter valued at about $522,000. American Century Companies Inc. increased its stake in shares of Middlesex Water by 62.9% in the fourth quarter. American Century Companies Inc. now owns 29,538 shares of the utilities provider's stock valued at $1,555,000 after buying an additional 11,402 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Middlesex Water in the fourth quarter valued at about $379,000. 79.52% of the stock is currently owned by institutional investors.

About Middlesex Water

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.