Middlesex Water (NASDAQ:MSEX) Stock Price Up 4.7% – Should You Buy?

Middlesex Water (NASDAQ:MSEX)’s stock price shot up 4.7% on Tuesday . The company traded as high as $60.26 and last traded at $60.75. 19,623 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 110,985 shares. The stock had previously closed at $58.03.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MSEX. Baird R W upgraded shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday. Robert W. Baird raised Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research note on Monday. Bank of America initiated coverage on Middlesex Water in a report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price objective on the stock. Finally, StockNews.com raised Middlesex Water from a “sell” rating to a “hold” rating in a research note on Monday.

Middlesex Water Stock Performance

The stock’s 50 day moving average is $51.09 and its two-hundred day moving average is $59.18. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80.

Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. The business had revenue of $47.11 million for the quarter, compared to analyst estimates of $45.00 million. During the same quarter last year, the firm earned $0.32 EPS. Analysts expect that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Tuesday, February 18th. Middlesex Water’s dividend payout ratio is presently 55.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Middlesex Water by 15.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,873 shares of the utilities provider’s stock worth $2,993,000 after buying an additional 7,562 shares during the last quarter. Squarepoint Ops LLC boosted its position in Middlesex Water by 119.0% during the fourth quarter. Squarepoint Ops LLC now owns 25,373 shares of the utilities provider’s stock valued at $1,335,000 after purchasing an additional 13,786 shares during the last quarter. Two Sigma Investments LP bought a new position in Middlesex Water in the fourth quarter valued at approximately $829,000. ProShare Advisors LLC increased its position in shares of Middlesex Water by 13.5% during the 4th quarter. ProShare Advisors LLC now owns 133,629 shares of the utilities provider’s stock worth $7,033,000 after purchasing an additional 15,878 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Middlesex Water during the 4th quarter worth approximately $2,224,000. Institutional investors own 79.52% of the company’s stock.

Middlesex Water Company Profile

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.