Middlesex Water Company owns and operates regulated water utility and wastewater systems.
Middlesex Water Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$104.47|
|52 Week High||US$61.42|
|52 Week Low||US$116.40|
|1 Month Change||-2.47%|
|3 Month Change||27.03%|
|1 Year Change||67.50%|
|3 Year Change||121.57%|
|5 Year Change||200.20%|
|Change since IPO||1,579.92%|
Recent News & Updates
|MSEX||US Water Utilities||US Market|
Return vs Industry: MSEX exceeded the US Water Utilities industry which returned 19.5% over the past year.
Return vs Market: MSEX exceeded the US Market which returned 32.8% over the past year.
Stable Share Price: MSEX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: MSEX's weekly volatility (5%) has been stable over the past year.
About the Company
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 in parts of New Jersey, Delaware, and Pennsylvania.
Middlesex Water Fundamentals Summary
|MSEX fundamental statistics|
Is MSEX overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MSEX income statement (TTM)|
|Cost of Revenue||US$72.30m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||2.22|
|Net Profit Margin||26.95%|
How did MSEX perform over the long term?See historical performance and comparison
1.0%Current Dividend Yield
Is Middlesex Water undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MSEX ($104.47) is trading above our estimate of fair value ($28.87)
Significantly Below Fair Value: MSEX is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MSEX is poor value based on its PE Ratio (47.2x) compared to the US Water Utilities industry average (34.7x).
PE vs Market: MSEX is poor value based on its PE Ratio (47.2x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MSEX's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MSEX is overvalued based on its PB Ratio (5.1x) compared to the US Water Utilities industry average (3x).
How is Middlesex Water forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if MSEX's forecast earnings growth is above the savings rate (2%).
Earnings vs Market: Insufficient data to determine if MSEX's earnings are forecast to grow faster than the US market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: MSEX's revenue (4.5% per year) is forecast to grow slower than the US market (9.8% per year).
High Growth Revenue: MSEX's revenue (4.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MSEX's Return on Equity is forecast to be high in 3 years time
How has Middlesex Water performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MSEX has high quality earnings.
Growing Profit Margin: MSEX's current net profit margins (27%) are higher than last year (26.5%).
Past Earnings Growth Analysis
Earnings Trend: MSEX's earnings have grown by 13.6% per year over the past 5 years.
Accelerating Growth: MSEX's earnings growth over the past year (6.3%) is below its 5-year average (13.6% per year).
Earnings vs Industry: MSEX earnings growth over the past year (6.3%) underperformed the Water Utilities industry 17.4%.
Return on Equity
High ROE: MSEX's Return on Equity (10.9%) is considered low.
How is Middlesex Water's financial position?
Financial Position Analysis
Short Term Liabilities: MSEX's short term assets ($37.2M) do not cover its short term liabilities ($80.7M).
Long Term Liabilities: MSEX's short term assets ($37.2M) do not cover its long term liabilities ($577.0M).
Debt to Equity History and Analysis
Debt Level: MSEX's debt to equity ratio (87.1%) is considered high.
Reducing Debt: MSEX's debt to equity ratio has increased from 68.6% to 87.1% over the past 5 years.
Debt Coverage: MSEX's debt is not well covered by operating cash flow (15.2%).
Interest Coverage: MSEX's interest payments on its debt are well covered by EBIT (5x coverage).
What is Middlesex Water current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MSEX's dividend (1.04%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.3%).
High Dividend: MSEX's dividend (1.04%) is low compared to the top 25% of dividend payers in the US market (3.57%).
Stability and Growth of Payments
Stable Dividend: MSEX's dividends per share have been stable in the past 10 years.
Growing Dividend: MSEX's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (48.4%), MSEX's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Dennis Doll (62 yo)
Mr. Dennis W. Doll, CPA, has been the Chief Executive Officer and President of Middlesex Water Co. since January 1, 2006 and joined its in 2004. Mr. Doll served as an Executive Vice President of Middlesex...
CEO Compensation Analysis
Compensation vs Market: Dennis's total compensation ($USD1.78M) is below average for companies of similar size in the US market ($USD3.66M).
Compensation vs Earnings: Dennis's compensation has been consistent with company performance over the past year.
Experienced Management: MSEX's management team is seasoned and experienced (9.5 years average tenure).
Experienced Board: MSEX's board of directors are considered experienced (4.7 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MSEX insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Middlesex Water Company's employee growth, exchange listings and data sources
- Name: Middlesex Water Company
- Ticker: MSEX
- Exchange: NasdaqGS
- Founded: 1896
- Industry: Water Utilities
- Sector: Utilities
- Market Cap: US$1.827b
- Shares outstanding: 17.49m
- Website: https://www.middlesexwater.com
Number of Employees
- Middlesex Water Company
- 485C Route 1 South
- Suite 400
- New Jersey
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/27 22:56|
|End of Day Share Price||2021/09/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.