Creative Financial Designs Inc. ADV Trims Holdings in Middlesex Water (NASDAQ:MSEX)

Creative Financial Designs Inc. ADV decreased its position in Middlesex Water (NASDAQ:MSEX) by 21.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,343 shares of the utilities provider’s stock after selling 893 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Middlesex Water were worth $176,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MSEX. Allworth Financial LP boosted its stake in Middlesex Water by 1,136.4% in the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Victory Capital Management Inc. bought a new position in Middlesex Water in the 3rd quarter worth about $230,000. Intech Investment Management LLC bought a new position in Middlesex Water in the 3rd quarter worth about $271,000. Inspire Investing LLC boosted its stake in Middlesex Water by 20.8% in the 4th quarter. Inspire Investing LLC now owns 7,633 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Middlesex Water by 16.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,313 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 1,186 shares in the last quarter. Institutional investors own 79.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Middlesex Water Price Performance

NASDAQ MSEX opened at $60.01 on Thursday. Middlesex Water has a 52 week low of $45.42 and a 52 week high of $70.73. The firm has a market capitalization of $1.07 billion, a P/E ratio of 26.09, a PEG ratio of 1.50 and a beta of 0.85. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $53.31 and a 200-day moving average price of $59.18.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.36 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The firm had revenue of $47.11 million during the quarter, compared to analyst estimates of $45.00 million. During the same quarter in the prior year, the firm earned $0.32 EPS. Equities research analysts anticipate that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Tuesday, February 18th. Middlesex Water’s payout ratio is currently 55.06%.

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.