Proficio Capital Partners LLC Acquires Shares of 30,315 Middlesex Water (NASDAQ:MSEX)

Proficio Capital Partners LLC acquired a new position in Middlesex Water (NASDAQ:MSEX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,315 shares of the utilities provider’s stock, valued at approximately $1,595,000. Proficio Capital Partners LLC owned approximately 0.17% of Middlesex Water as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in MSEX. State Street Corp lifted its stake in shares of Middlesex Water by 7.0% during the third quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock valued at $53,070,000 after buying an additional 53,098 shares during the period. Barclays PLC raised its position in shares of Middlesex Water by 349.4% during the 3rd quarter. Barclays PLC now owns 29,919 shares of the utilities provider’s stock valued at $1,952,000 after acquiring an additional 23,262 shares in the last quarter. Thematics Asset Management increased its position in Middlesex Water by 5.8% in the third quarter. Thematics Asset Management now owns 181,000 shares of the utilities provider’s stock worth $11,808,000 after buying an additional 10,000 shares during the period. Bank of New York Mellon Corp increased its position in Middlesex Water by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 214,913 shares of the utilities provider’s stock valued at $11,311,000 after acquiring an additional 6,983 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Middlesex Water by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,281 shares of the utilities provider’s stock worth $10,913,000 after buying an additional 6,844 shares in the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Trading Down 1.4 %

Middlesex Water stock 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 company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a market capitalization of $1.07 billion, a PE ratio of 26.09, a PEG ratio of 1.50 and a beta of 0.85. The business’s 50-day simple moving average is $53.31 and its 200-day simple moving average is $59.18.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share (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 firm had revenue of $47.11 million for the quarter, compared to analyst estimates of $45.00 million. During the same quarter last year, the firm posted $0.32 EPS. Equities research analysts forecast that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have 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 report on Monday, March 3rd. Bank of America began coverage on Middlesex Water in a report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 target price for the company. Robert W. Baird upgraded Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price target on the stock in a report 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 Company Profile

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.