Middlesex Water (NASDAQ:MSEX) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Middlesex Water shares crossed above their 200-day moving average, reaching $59.08 and last trading at $58.73, compared with a 200-day average of $53.64.
• Analysts maintain a generally positive outlook, with the stock receiving an average “Moderate Buy” rating and a consensus price target of $61.67.
• The company exceeded quarterly expectations, reporting EPS of $0.79 versus the $0.66 consensus and revenue of $56.36 million; it also declared a quarterly dividend of $0.36 per share, yielding about 2.5% annually.

Shares of Middlesex Water Company (NASDAQ:MSEX - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Robert W. Baird set a $66.00 target price on shares of Middlesex Water in a research report on Friday, July 31st. New Street Research set a $64.00 price target on shares of Middlesex Water in a research report on Thursday, July 9th. Weiss Ratings raised Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Middlesex Water from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One 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 stock currently has an average rating of "Moderate Buy" and an average price target of $61.67.

Middlesex Water Stock Performance

The firm's 50-day moving average is $55.63 and its 200 day moving average is $53.64. The stock has a market cap of $1.11 billion, a PE ratio of 22.68 and a beta of 0.75. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13. Middlesex Water had a net margin of 23.26% and a return on equity of 9.59%. The company had revenue of $56.36 million for the quarter, compared to the consensus estimate of $54.51 million.

Middlesex Water Announces Dividend

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

Insider Buying and Selling at Middlesex Water

In other news, VP Lorrie Beth Ginegaw sold 615 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $57.61, for a total value of $35,430.15. Following the transaction, the vice president owned 3,978 shares of the company's stock, valued at approximately $229,172.58. The trade was a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.92% of the company's stock.

Hedge Funds Weigh In On Middlesex Water

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Middlesex Water in the 2nd quarter worth $25,000. Parallel Advisors LLC boosted its holdings in Middlesex Water by 68.6% in the 1st quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 212 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Middlesex Water during the 2nd quarter worth approximately $27,000. Western Wealth Management LLC purchased a new position in shares of Middlesex Water during the 1st quarter worth approximately $33,000. Finally, Versant Capital Management Inc raised its stake in shares of Middlesex Water by 328.9% during the 2nd quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider's stock worth $38,000 after buying an additional 523 shares in the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source