Assenagon Asset Management S.A. lowered its stake in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 74.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,066 shares of the utilities provider's stock after selling 55,880 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.11% of Middlesex Water worth $1,003,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in MSEX. GAMMA Investing LLC lifted its holdings in Middlesex Water by 66.2% during the third quarter. GAMMA Investing LLC now owns 2,046 shares of the utilities provider's stock valued at $133,000 after purchasing an additional 815 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Middlesex Water during the 3rd quarter valued at approximately $210,000. Wealth Enhancement Advisory Services LLC bought a new position in Middlesex Water in the 3rd quarter worth approximately $225,000. Everence Capital Management Inc. purchased a new position in Middlesex Water in the 3rd quarter valued at approximately $230,000. Finally, Victory Capital Management Inc. bought a new stake in Middlesex Water during the 3rd quarter valued at $230,000. Institutional investors own 79.52% of the company's stock.
A number of equities analysts have recently commented on MSEX shares. Robert W. Baird raised their price target on Middlesex Water from $58.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Bank of America started coverage on Middlesex Water in a research note on Wednesday, December 11th. They issued an "underperform" rating and a $56.00 target price for the company.
Get Our Latest Stock Analysis on MSEX
Shares of MSEX traded down $0.48 during mid-day trading on Friday, reaching $48.68. 76,127 shares of the stock traded hands, compared to its average volume of 153,528. The company has a market cap of $869.18 million, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 1.45 and a beta of 0.85. Middlesex Water has a 1 year low of $45.42 and a 1 year high of $70.73. The firm has a fifty day moving average price of $56.69 and a 200 day moving average price of $61.17. 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 - Get Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $55.10 million during the quarter, compared to analysts' expectations of $50.00 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. During the same period in the previous year, the business earned $0.56 earnings per share. As a group, equities research analysts predict that Middlesex Water will post 2.34 earnings per share for the current year.
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.
Before you consider Middlesex Water, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Middlesex Water wasn't on the list.
While Middlesex Water currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.