Middlesex Water Company (NASDAQ:MSEX)‘s stock had its “buy” rating reaffirmed by research analysts at Janney Montgomery Scott in a report issued on Wednesday. They currently have a $44.00 price objective on the utilities provider’s stock. Janney Montgomery Scott’s target price would indicate a potential upside of 4.19% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, ValuEngine raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, August 4th.

Shares of Middlesex Water (MSEX) traded up 0.31% on Wednesday, hitting $42.36. 15,254 shares of the stock were exchanged. The company’s 50 day moving average is $38.96 and its 200-day moving average is $38.06. The stock has a market cap of $692.04 million, a PE ratio of 31.97 and a beta of 0.41. Middlesex Water has a 52-week low of $32.23 and a 52-week high of $44.48.

Middlesex Water (NASDAQ:MSEX) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.05). The firm had revenue of $33.01 million during the quarter, compared to analyst estimates of $34.00 million. Middlesex Water had a net margin of 16.46% and a return on equity of 9.95%. Analysts predict that Middlesex Water will post $1.48 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the stock. American International Group Inc. increased its stake in Middlesex Water by 7.1% in the first quarter. American International Group Inc. now owns 9,770 shares of the utilities provider’s stock valued at $361,000 after purchasing an additional 644 shares during the last quarter. AQR Capital Management LLC increased its stake in Middlesex Water by 7.1% in the first quarter. AQR Capital Management LLC now owns 89,026 shares of the utilities provider’s stock valued at $3,289,000 after purchasing an additional 5,883 shares during the last quarter. Geode Capital Management LLC increased its stake in Middlesex Water by 3.0% in the first quarter. Geode Capital Management LLC now owns 152,394 shares of the utilities provider’s stock valued at $5,630,000 after purchasing an additional 4,400 shares during the last quarter. Renaissance Technologies LLC increased its stake in Middlesex Water by 9.0% in the first quarter. Renaissance Technologies LLC now owns 496,000 shares of the utilities provider’s stock valued at $18,327,000 after purchasing an additional 40,800 shares during the last quarter. Finally, Stephens Inc. AR purchased a new position in Middlesex Water in the second quarter valued at approximately $305,000. 49.05% of the stock is currently owned by hedge funds and other institutional investors.

About Middlesex Water

Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.

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