It is currently trading at $44.75 a tad higher than $41.12, the 50 day moving average and which is quite a bit higher than the 200 day moving average of $38.75. The 50 day moving average moved up $3.63 and the 200 day average was up $6.00. Trading volume for Middlesex Water Company was 55K on Tuesday. Overall, volume was up 8.11% over the stocks normal daily volume.
Traders are more bullish on shares of the company lately if you take a look at the decrease in short interest. The company recorded a fall in short interest from September 15, 2017 to September 29, 2017 of -16.88%. Short interest fell 38,897 over that timeframe. With short interest at 191,538 and short average daily volume at 37,032, the short-interest ratio is 5.0 and the percentage of shorted shares is 0.01% as of September 29.
Middlesex Water Company (NASDAQ:MSEX) has been the object of insider selling activity recently. President Gerard L. Esposito disclosed the sale of 1,700 shares of (MSEX). The shares were sold on October 9th for an average price of $42.89. Esposito now owns $316,099 of the stock per the Form 4 SEC filing.
Here are a few substantial investment firms who have updated their positions. As of quarter end Creative Planning had acquired a total of 5,715 shares growing its holdings by 2,857.5%. The value of the investment in MSEX went from $8,000 to $232,000 a change of $224,000 quarter over quarter. Bank Of Montreal /can/ divested its holdings by shedding 303 shares a decrease of 17.1%. Bank Of Montreal /can/ now controls 1,464 shares valued at $57,000. The total value of its holdings decreased 18.6%.
As of the end of the quarter Financial Architects, Inc had sold 15,881 shares trimming its stake by 96.4%. The value of the investment in (MSEX) decreased from $653,000 to $24,000 a change of 96.3% since the last quarter. As of quarter end Cutter & CO Brokerage, Inc. had disposed of a total of 4,704 shares trimming its position 10.4%. The value in dollars decreased from $1,785,000 to $1,585,000 decreasing 11.2% for the reporting period.
On October 4 analysts at Janney Capital added MSEX to its research portfolio giving it an initial rating of “Buy” and a price target of $44.00.
Middlesex Water Company’s P/E ratio is 33.77 and market capitalization is 731.08M. As of the last earnings report the EPS was $1.33 and is estimated to be $1.48 for the current year with 16,337,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.33 with next year’s EPS anticipated to be $1.61.
Middlesex Water Company, incorporated in 1897, 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. The Business’s segments include Regulated and Non-Regulated. The Regulated segment is involved in the business of collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey, Delaware and Pennsylvania. The Non-Regulated segment primarily consists of non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware..