Jackson Creek Investment Advisors LLC Purchases Shares of 23,666 Middlesex Water (NASDAQ:MSEX)

Jackson Creek Investment Advisors LLC bought a new stake in Middlesex Water (NASDAQ:MSEX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 23,666 shares of the utilities provider's stock, valued at approximately $1,246,000. Jackson Creek Investment Advisors LLC owned about 0.13% of Middlesex Water at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its holdings in Middlesex Water by 1,136.4% during the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock worth $27,000 after acquiring an additional 500 shares during the period. Crestwood Advisors Group LLC purchased a new stake in Middlesex Water during the third quarter worth about $210,000. Wealth Enhancement Advisory Services LLC acquired a new position in Middlesex Water during the third quarter worth about $225,000. Victory Capital Management Inc. purchased a new position in Middlesex Water in the third quarter valued at about $230,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Middlesex Water during the 3rd quarter valued at approximately $271,000. Institutional investors and hedge funds own 79.52% of the company's stock.

Middlesex Water Price Performance

NASDAQ:MSEX traded up $3.15 during trading hours on Friday, reaching $64.24. 232,983 shares of the company traded hands, compared to its average volume of 120,113. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. The firm's 50-day moving average is $51.70 and its 200-day moving average is $59.19. The stock has a market cap of $1.15 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.50 and a beta of 0.85. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $70.73.

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Middlesex Water (NASDAQ:MSEX - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.13. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. The business had revenue of $47.11 million for the quarter, compared to analyst estimates of $45.00 million. During the same quarter last year, the company earned $0.32 earnings per share. Equities research analysts expect that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.12%. Middlesex Water's dividend payout ratio (DPR) is presently 55.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America began coverage on Middlesex Water in a report on Wednesday, December 11th. They issued an "underperform" rating and a $56.00 price target on the stock. Baird R W raised Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Robert W. Baird raised Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target for the company in a research note on Monday, March 3rd. Finally, StockNews.com raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd.

About Middlesex Water

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.