Middlesex Water (MSEX) Stock Rating Upgraded by BidaskClub

Middlesex Water (NASDAQ:MSEX) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday.

Separately, Zacks Investment Research downgraded Middlesex Water from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st.

Shares of Middlesex Water (NASDAQ MSEX) opened at $36.21 on Friday. The firm has a market capitalization of $591.89, a P/E ratio of 28.97 and a beta of 0.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.43. Middlesex Water has a twelve month low of $32.23 and a twelve month high of $46.74.

In related news, VP Bernadette M. Sohler sold 1,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $45.19, for a total transaction of $45,190.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP A Bruce Oconnor sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $43.83, for a total value of $175,320.00. Following the transaction, the vice president now owns 16,803 shares of the company’s stock, valued at $736,475.49. The disclosure for this sale can be found here. 3.48% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MSEX. Wells Fargo & Company MN boosted its position in Middlesex Water by 20.2% during the 4th quarter. Wells Fargo & Company MN now owns 36,756 shares of the utilities provider’s stock worth $1,467,000 after acquiring an additional 6,189 shares during the period. First Trust Advisors LP boosted its position in Middlesex Water by 10.5% during the 4th quarter. First Trust Advisors LP now owns 102,844 shares of the utilities provider’s stock worth $4,105,000 after acquiring an additional 9,734 shares during the period. Nuance Investments LLC boosted its position in Middlesex Water by 2.3% during the 4th quarter. Nuance Investments LLC now owns 89,002 shares of the utilities provider’s stock worth $3,552,000 after acquiring an additional 2,012 shares during the period. Private Advisor Group LLC boosted its position in Middlesex Water by 20.7% during the 4th quarter. Private Advisor Group LLC now owns 8,688 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 1,488 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Middlesex Water during the 4th quarter worth $222,000. Hedge funds and other institutional investors own 49.95% of the company’s stock.

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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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