Middlesex Water (MSEX) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Middlesex Water (NASDAQ:MSEX) from a hold rating to a sell rating in a report released on Wednesday.

According to Zacks, “Middlesex Water Company treats, stores and distributes water for residential, commercial, industrial and fire prevention purposes. “

Separately, BidaskClub downgraded shares of Middlesex Water from a buy rating to a hold rating in a report on Wednesday, December 6th.

Middlesex Water (NASDAQ:MSEX) opened at $37.59 on Wednesday. The company has a market cap of $609.38, a P/E ratio of 30.07 and a beta of 0.40. Middlesex Water has a fifty-two week low of $32.23 and a fifty-two week high of $46.74. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.60.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.2238 dividend. This represents a $0.90 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, February 14th. Middlesex Water’s dividend payout ratio (DPR) is presently 71.20%.

In other Middlesex Water news, VP Bernadette M. Sohler sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $45.19, for a total value of $45,190.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.48% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Middlesex Water in the 4th quarter worth approximately $107,000. Teacher Retirement System of Texas purchased a new stake in Middlesex Water in the 4th quarter worth approximately $222,000. Trustcore Financial Services LLC purchased a new stake in Middlesex Water in the 4th quarter worth approximately $232,000. Creative Planning lifted its stake in Middlesex Water by 23.1% in the 4th quarter. Creative Planning now owns 7,284 shares of the utilities provider’s stock worth $291,000 after purchasing an additional 1,369 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new stake in Middlesex Water in the 4th quarter worth approximately $299,000. Institutional investors and hedge funds own 49.97% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://www.com-unik.info/2018/02/18/middlesex-water-msex-cut-to-sell-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Middlesex Water (MSEX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Middlesex Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlesex Water and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply

share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit