Streetbeat News

MSEX

Middlesex Water Company

https://www.middlesexwater.com

Industry

Regulated Water

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. 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. 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. The company was incorporated in 1896 and is headquartered in Iselin, New Jersey.

Open

65.38

Mkt cap

1.2B

Volume

73K

High

66.27

P/E Ratio

28.74

52-wk high

73.47

Low

64.49

Div yield

0.02

52-wk low

45.42

Middlesex Water (MSEX) reported Q1 2024 earnings of $0.59 per share, surpassing the $0.45 estimate by 31.11%. However, their sales of $40.500M fell short of the $44.550M estimate by 9.09%, despite being a 6.14% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 10:19 pm

Middlesex Water Company (MSEX) is taking steps to comply with new, stricter federal regulations concerning PFAS (per- and polyfluoroalkyl substances). The company's proactive approach aims to ensure water quality and safety for its customers, aligning with the upcoming regulatory standards.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 9:09 pm

Insiders at Greif, EchoStar, and Middlesex Water have made notable purchases of their companies' stocks, signaling confidence in their respective companies' futures. Greif's CFO acquired shares following upbeat quarterly earnings, EchoStar's Director made a significant purchase despite a year-over-year decrease in EPS, and a Director at Middlesex Water bought shares after the company posted downbeat quarterly results.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 11:19 am

Baird analyst Ben Kallo maintains an Outperform rating on Middlesex Water (MSEX) but lowers the price target from $69 to $59.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 5:47 pm

Middlesex Water (NASDAQ:MSEX) reported Q4 earnings of $0.32 per share, missing the $0.52 estimate, and sales of $38.60M, missing the $44.90M estimate. This represents a 20% decrease in earnings and a 0.57% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 6:23 am

Middlesex Water Company has appointed Nadine Leslie as its new President and CEO. This leadership change could signal a new strategic direction or continuity in the company's operations, depending on Leslie's vision and management style.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:36 pm

PNM Resources, Inc. (PNM) and Middlesex Water Company (MSEX) are identified as oversold utilities stocks with their RSI values below 30, indicating potential undervaluation. PNM's merger with Avangrid was terminated due to lack of regulatory approvals, causing its stock to drop about 6% over five days. MSEX reported a decline in Q3 sales and anticipates 2023 as a transition year, with its stock falling about 8% over five days.

Portfolio Pulse from Avi Kapoor

January 05, 2024 | 11:55 am

Middlesex Water (NASDAQ:MSEX) reported a decrease in Q3 earnings and sales YoY. Earnings per share fell by 30% to $0.56 from $0.80, and sales decreased by 2.13% to $46.72 million from $47.73 million.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:27 pm

Middlesex Water Company (NASDAQ:MSEX) has increased its quarterly dividend from $0.3125 to $0.325 per share, marking the 51st consecutive year of dividend increases. The new dividend is payable on December 1, 2023, to shareholders of record as of November 16, 2023. The company is also offering a 3% discount on all common stock purchases made under its Investment Plan until 200,000 shares are purchased at the discounted price or December 1, 2023, whichever event occurs first.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 8:20 pm

The article lists four utilities stocks that are currently oversold, presenting a potential buying opportunity. These include Black Hills Corporation (BKH), Unitil Corporation (UTL), Middlesex Water Company (MSEX), and Atmos Energy Corporation (ATO). All four companies have recently experienced a drop in their stock prices, with their Relative Strength Index (RSI) values falling below 30.

Portfolio Pulse from Lisa Levin

September 28, 2023 | 12:15 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.