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Middlesex Water Company  (MSEX)
Other Ticker:  
 
    Sector  Utilities    Industry Water Supply
   Industry Water Supply
   Sector  Utilities
 
Price: $53.8500 $-1.20 -2.180%
Day's High: $55.37 Week Perf: -4.99 %
Day's Low: $ 53.50 30 Day Perf: 10.39 %
Volume (M): 105 52 Wk High: $ 84.38
Volume (M$): $ 5,676 52 Wk Avg: $65.40
Open: $55.37 52 Wk Low: $45.42



 Market Capitalization (Millions $) 966
 Shares Outstanding (Millions) 18
 Employees 282
 Revenues (TTM) (Millions $) 168
 Net Income (TTM) (Millions $) 37
 Cash Flow (TTM) (Millions $) 0
 Capital Exp. (TTM) (Millions $) 103

Middlesex Water Company

Middlesex Water Company (Middlesex) was incorporated as a water utility company in 1897 and owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. Middlesex also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.

The terms “the Company, Middlesex Water Company and its subsidiaries, including Tidewater Utilities, Inc. (Tidewater) and Tidewater’s wholly-owned subsidiaries, Southern Shores Water Company, LLC (Southern Shores) and White Marsh Environmental Systems, Inc. (White Marsh). The Company’s other subsidiaries are Pinelands Water Company (Pinelands Water) and Pinelands Wastewater Company (Pinelands Wastewater) (collectively, Pinelands), Utility Service Affiliates, Inc. (USA), Utility Service Affiliates (Perth Amboy) Inc., (USA-PA), Tidewater Environmental Services, Inc. (TESI) and Twin Lakes Utilities, Inc. (Twin Lakes).

The Company’s principal executive offices are located at 1500 Ronson Road, Iselin, New Jersey 08830. Our telephone number is (732) 634-1500. Our internet website address is http://www.middlesexwater.com. We make available, free of charge through our internet website, reports and amendments filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, after such material is electronically filed with or furnished to the United States Securities and Exchange Commission (the SEC).

Middlesex System

The Middlesex System in New Jersey provides water services to approximately 60,000 retail customers, primarily in eastern Middlesex County, New Jersey and provides water under wholesale contracts to the City of Rahway, Townships of Edison and Marlboro, the Borough of Highland Park and the Old Bridge Municipal Utilities Authority. The Middlesex System treats, stores and distributes water for residential, commercial, industrial and fire protection purposes. The Middlesex System also provides water treatment and pumping services to the Township of East Brunswick under contract.

The Middlesex System’s retail customers are located in an area of approximately 55 square miles in Woodbridge Township, the City of South Amboy, the Boroughs of Metuchen and Carteret, portions of the Township of Edison and the Borough of South Plainfield in Middlesex County and, to a minor extent, a portion of the Township of Clark in Union County. Retail customers include a mix of residential customers, large industrial concerns and commercial and light industrial facilities. These customers are located in generally well-developed areas of central New Jersey.

The contract customers of the Middlesex System comprise an area of approximately 110 square miles with a population of approximately 219,000. Contract sales to Edison, Old Bridge, Marlboro and Rahway are supplemental to the existing water systems of these customers. Middlesex is the sole source of water for Highland Park and East Brunswick.

Middlesex provides water service to approximately 300 customers in Cumberland County, New Jersey. This system is referred to as Bayview, and is not physically interconnected with the Middlesex System.

Tidewater System

Tidewater, together with its wholly-owned subsidiary, Southern Shores, provides water services to approximately 40,000 retail customers for residential, commercial and fire protection purposes in over 375 separate communities in New Castle, Kent and Sussex Counties, Delaware. White Marsh is a wholly-owned subsidiary of Tidewater that is unregulated as to rates and operates 42 water and wastewater systems under contracts that serve approximately 4,000 residential customers. White Marsh owns two commercial properties that are leased to Tidewater as its administrative office campus and its field operations center. The Tidewater System produced approximately 27% of our 2014 consolidated operating revenues.

Utility Service Affiliates-Perth Amboy

USA-PA operates the City of Perth Amboy, New Jersey’s (Perth Amboy) water and wastewater systems under a 20-year agreement, which expires in 2018. USA-PA serves approximately 11,000 homes and businesses, most of which are served by both the water and wastewater systems. Under the agreement, USA-PA receives fixed fees, and may receive variable fees, based on customer revenue growth. Fixed fee revenues increase over the term of the 20-year contract based upon a schedule of rates.

In connection with the agreement with Perth Amboy, USA-PA entered into a 20-year subcontract with a wastewater operating company for the operation and maintenance of the Perth Amboy wastewater collection system. The subcontract provides for the sharing of certain fixed and variable fees and operating expenses.

Pinelands System

Pinelands Water provides water services to approximately 2,500 residential customers in Burlington County, New Jersey. Pinelands Water produced less than 1% of our 2014 consolidated operating revenues. Pinelands Water is not physically interconnected with the Middlesex System.

Pinelands Wastewater provides wastewater services to approximately 2,500 residential customers. Under contract, it also services one municipal wastewater system in Burlington County, New Jersey with approximately 200 residential customers. Pinelands Wastewater produced approximately 1% of our 2014 consolidated operating revenues.

Utility Service Affiliates, Inc.

USA operates the Borough of Avalon, New Jersey’s (Avalon) water utility, sewer utility and storm water system under a ten-year operations and maintenance contract expiring in 2022. USA serves approximately 6,000 Avalon homes and businesses, most of which are served by both the water and wastewater systems. In addition to performing day to day operations, USA is responsible for billing, collections, customer service, emergency responses and management of capital projects funded by Avalon.

USA also provides unregulated water and wastewater services under contract with several New Jersey municipalities.

Under a marketing agreement with HomeServe USA (HomeServe), USA offers residential customers in New Jersey and Delaware a menu of water and wastewater related home maintenance programs. HomeServe is a leading provider of such home maintenance service programs. USA receives a service fee for the billing, cash collection and other administrative matters associated with HomeServe’s service contracts. The agreement expires in 2021.


TESI System

TESI provides wastewater services to approximately 3,300 residential retail customers in Kent and Sussex Counties, Delaware. TESI produced approximately 2% of our 2014 consolidated operating revenues.

Twin Lakes provides water services to approximately 120 residential customers in Shohola, Pennsylvania.



   Company Address: 485C Route 1 South Iselin 8830 NJ
   Company Phone Number: 634-1500   Stock Exchange / Ticker: NASDAQ MSEX
   


   

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Dividend

Middlesex Water Company: Unstoppable Growth with 51st Consecutive Dividend Increase

Published Fri, Oct 20 2023 8:17 PM UTC



Middlesex Water Company has once again showcased its commitment to enhancing shareholder value by announcing a 4.0% increase in its common dividend. This marks the 51st consecutive year of dividend increases, a testament to the company's strong financial performance and stability. With the recent increase in earnings per share and a manageable dividend pay out rati...

Middlesex Water Company

Middlesex Water Company Outperforms with a 10% Surge in Profits and 7.857% Revenue Increase in Fiscal Span Ending June 30, 2023; Defies the Industry Trend

Middlesex Water Company: A Bullish Outlook for Shareholders
The recently released financial results for Middlesex Water Company (MSEX) have shown impressive growth and positive developments that are expected to have a significant impact on shareholders. With revenue for the fiscal span ending June 30, 2023, rising by 7.857% to $42.80 million in comparison to $39.68 million in the prior year reporting season, it is evident that Middlesex Water Company is on an upward trajectory.
One of the most exciting aspects of these financial results is the increase in income per share, which grew by 10% to $0.55 per share, as compared to $0.50 in the previous year reporting season. This not only showcases the company's ability to generate profits but also demonstrates its commitment to delivering value to its shareholders.

Middlesex Water Company

Solid numbers by MSEX over the January to March 31 2023 span

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Middlesex Water's Segments
 
 
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