Middlesex Water Company (MSEX) Is Up 5.68% in 2020 With Lots of Room to Run

Middlesex Water Company (NASDAQ: MSEX) is 5.68% higher on its value in year-to-date trading and has touched a low of $48.79 and a high of $72.41 in the current 52-week trading range. The MSEX stock was last observed hovering at around $65.92 in the last trading session, with the day’s gains setting it 1.26% off its average median price target of $72.00 for the next 12 months. It is also 7.97% off the consensus price target high of $73.00 offered by 3 analysts, but current levels are 2.64% higher than the price target low of $69.00 for the same period.

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Currently trading at $67.18, the stock is -0.62% and 4.80% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 62192.0 and changing 1.91% at the moment leaves the stock 6.09% off its SMA200. MSEX registered 13.17% gain for a year compared to 6-month gain of 5.70%. The firm has a 50-day simple moving average (SMA 50) of $65.78 and a 200-day simple moving average (SMA200) of $63.27.

The stock witnessed a -0.12% loss in the last 1 month and extending the period to 3 months gives it a 11.74%, and is 1.31% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.41% over the week and 3.45% over the month.

Middlesex Water Company (MSEX) has around 352 employees, a market worth around $1.21B and $135.70M in sales. Current P/E ratio is 32.75 and Fwd P/E is 30.40. Profit margin for the company is 25.70%. Distance from 52-week low is 37.69% and -7.22% from its 52-week high. The company has generated returns on investments over the last 12 months (6.60%).

Middlesex Water Company (MSEX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Middlesex Water Company (MSEX) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 1.30, where 0 rate it as a Hold and 1 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Middlesex Water Company is expected to release its quarterly report on 08/04/2020 and quarterly earnings per share for the current quarter are estimated at $0.51 with sales reaching $35M over the same period.The EPS is expected to grow by 2.60% this year, but quarterly earnings will post 6.80% year-over-year. Quarterly sales are estimated to grow 4.80% in year-over-year returns.

Middlesex Water Company (MSEX) Top Institutional Holders

213 institutions hold shares in Middlesex Water Company (MSEX), with 608.65k shares held by insiders accounting for 3.49% while institutional investors hold 66.17% of the company’s shares. The shares outstanding are 17.44M, and float is at 16.84M with Short Float at 1.57%. Institutions hold 63.86% of the Float.

The top institutional shareholder in the company is Price (T.Rowe) Associates Inc with over 1.8 million shares valued at $108.39 million. The investor’s holdings represent 10.34% of the MSEX Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 1.37 million shares valued at $82.58 million to account for 7.88% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 1.09 million shares representing 6.24% and valued at over $65.4 million, while Dimensional Fund Advisors LP holds 3.44% of the shares totaling 0.6 million with a market value of $36.08 million.

Middlesex Water Company (MSEX) Insider Activity

A total of 27 insider transactions have happened at Middlesex Water Company (MSEX) in the last six months, with sales accounting for 12 and purchases happening 15 times. The most recent transaction is an insider sale by OCONNOR A BRUCE, the company’s Sr. VP & CFO. SEC filings show that OCONNOR A BRUCE sold 2,500 shares of the company’s common stock on Jun 29 at a price of $66.26 per share for a total of $0.17 million. Following the sale, the insider now owns 4065.0 shares.

Middlesex Water Company disclosed in a document filed with the SEC on Jun 17 that Doll Dennis W (President & CEO) sold a total of 2,000 shares of the company’s common stock. The trade occurred on Jun 17 and was made at $70.26 per share for $0.14 million. Following the transaction, the insider now directly holds 50100.0 shares of the MSEX stock.

Still, SEC filings show that on May 21, Simpson Georgia M (VP-Information Technology) disposed off 500 shares at an average price of $62.48 for $31240.0. The insider now directly holds 202 shares of Middlesex Water Company (MSEX).

Middlesex Water Company (MSEX): Who are the competitors?

The company’s main competitors (and peers) include California Water Service Group (CWT) that is trading -4.58% down over the past 12 months. Cadiz Inc. (CDZI) is -14.04% down on the 1-year trading charts. Short interest in the company’s stock has fallen -8.88% from the last report on May 14, 2020 to stand at a total of 0.29 million short shares sold with a short interest ratio of 4.02.

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