Proficio Capital Partners LLC Invests $1.60 Million in Middlesex Water (NASDAQ:MSEX)

Proficio Capital Partners LLC bought a new position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP lifted its position in shares of 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 purchasing an additional 500 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Middlesex Water during the third quarter worth $230,000. Intech Investment Management LLC acquired a new stake in Middlesex Water in the third quarter valued at $271,000. Inspire Investing LLC raised its holdings in Middlesex Water by 20.8% in the fourth quarter. Inspire Investing LLC now owns 7,633 shares of the utilities provider's stock valued at $402,000 after acquiring an additional 1,315 shares in the last quarter. Finally, FMR LLC raised its holdings in Middlesex Water by 9.7% in the third quarter. FMR LLC now owns 7,018 shares of the utilities provider's stock valued at $458,000 after acquiring an additional 618 shares in the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

Middlesex Water Stock Performance

MSEX stock traded up $0.51 during trading on Friday, hitting $59.97. 820,993 shares of the company's stock traded hands, compared to its average volume of 118,890. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. Middlesex Water has a 52 week low of $45.42 and a 52 week high of $70.73. The stock has a fifty day moving average price of $53.72 and a two-hundred day moving average price of $59.14. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85.

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Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share 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 previous year, the firm earned $0.32 earnings per share. As a group, equities analysts anticipate that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Baird R W raised shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Robert W. Baird raised shares of 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. Bank of America assumed coverage on shares of Middlesex Water in a report on Wednesday, December 11th. They issued an "underperform" rating and a $56.00 price target on the stock. Finally, StockNews.com raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a report on Wednesday.

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.