Zacks Research Begins Coverage on Middlesex Water (NASDAQ:MSEX)

Research analysts at Zacks Research began coverage on shares of Middlesex Water (NASDAQ:MSEX) in a report released on Wednesday, Zacks reports. The brokerage set a “hold” rating on the utilities provider’s stock.

Several other research analysts also recently commented on MSEX. New Street Research set a $64.00 price objective on Middlesex Water in a research note on Thursday, July 9th. Huntington assumed coverage on shares of Middlesex Water in a research note on Sunday, November 1st. They set a “strong-buy” rating on the stock. Freedom Broker upped their target price on shares of Middlesex Water from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday. Robert W. Baird set a $66.00 target price on shares of Middlesex Water in a research report on Friday, July 31st. Finally, Weiss Ratings raised shares of Middlesex Water from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.75.

Middlesex Water Price Performance

NASDAQ:MSEX opened at $59.50 on Wednesday. Middlesex Water has a 12 month low of $48.19 and a 12 month high of $60.72. The stock has a 50 day moving average of $55.50 and a two-hundred day moving average of $54.28. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.14 billion, a P/E ratio of 21.48 and a beta of 0.71.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Thursday, October 29th. The utilities provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.13. The business had revenue of $60.21 million for the quarter, compared to the consensus estimate of $59.90 million. Middlesex Water had a return on equity of 10.08% and a net margin of 24.50%. On average, analysts expect that Middlesex Water will post 2.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Middlesex Water

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Middlesex Water during the second quarter worth about $25,000. Parallel Advisors LLC boosted its holdings in Middlesex Water by 68.6% in the 1st quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 212 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Middlesex Water in the 2nd quarter valued at approximately $27,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Middlesex Water in the 2nd quarter valued at approximately $28,000. Finally, Jacobi Capital Management LLC acquired a new stake in shares of Middlesex Water during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

More Middlesex Water News

Here are the key news stories impacting Middlesex Water this week:

• Positive Sentiment: Huntington initiated coverage with a “Strong-Buy” rating and forecasts earnings of $2.82 per share in 2026 and $2.80 in 2027, rising to $2.92 in 2028. Its estimates provide a positive outlook, though they are forecasts rather than new company guidance. Huntington rating information
• Neutral Sentiment: The latest reported quarter was stronger than expected: Middlesex Water earned $0.95 per share versus the $0.82 consensus and reported revenue of $60.21 million, slightly above estimates. The article also cites an increased dividend, supporting income appeal, but provides no amount. Valuation, earnings and dividend article
• Negative Sentiment: The newest article argues MSEX could be about 45% above fair value even after its earnings and dividend improvements. That valuation concern may limit upside or weigh on the shares, particularly with the stock near its 52-week high.

Middlesex Water Company Profile

Middlesex Water Company (NASDAQ:MSEX) is a regulated water and wastewater utility that owns and operates systems serving residential, commercial, industrial and municipal customers. Its services include the production, treatment, distribution and sale of potable water, as well as wastewater collection and treatment.

Founded in 1897, the company primarily serves communities in New Jersey and Delaware through its regulated utility operations. Its New Jersey service area includes portions of Middlesex, Union, Somerset and Mercer counties, while its Delaware operations serve customers through the Tidewater Utilities subsidiary.

Middlesex Water also provides contract operations, maintenance and related services for municipal and other public water and wastewater systems.