Middlesex Water Company (Nasdaq:MSEX)
November 7th, 2018
Amidst rising markets Middlesex Water Company closed Wednesday up 4.45%, a $2.23 increase to close on $52.35. Furthermore it hit a new 52 week high of $52.56. Middlesex Water Company swung 10.93% between high and low. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 1.47.
MSEX outperformed the rest of the Utilities sector which went up 1.08% today.
Results from 1 analyst suggest that Middlesex Water Company might rise somewhat (5.75%), while Finbox has calculated (with medium uncertainty) a fair value price of $36.11.
Wednesday saw an upward swing in all sectors of the market with Consumer Discretionary charging ahead with a 3.12% increase. Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector declining 7.75%.
- Consumer Discretionary went up with a 3.12% change.
- Healthcare went up with a 2.94% change.
- Information Technology went up with a 2.88% change.
- Communication Services went up with a 1.93% change.
- Materials went up with a 1.90% change.
- Industrials went up with a 1.68% change.
- Energy went up with a 1.61% change.
- Financials went up with a 1.34% change.
- Real Estate went up with a 1.14% change.
- Utilities went up with a 1.08% change.
- Consumer Staples went up with a 0.56% change.
Middlesex Water Company is based in Iselin. was founded in 1897.
Middlesex Water Company Info
Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in 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. This segment also includes regulated wastewater systems in New Jersey and Delaware. The Non-Regulated segment provides non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. Middlesex Water Company was founded in 1897 and is headquartered in Iselin, New Jersey.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Middlesex Water Company’s score is 1.47) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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