Middlesex Water (MSEX)

Established in 1897, Middlesex Water Company serves as a trusted provider offering life-sustaining high quality water service for residential, commercial, industrial and fire protection purposes. The Company offers a full range of water, wastewater utility and related services. An investor-owned public utility, Middlesex Water is a professional services provider specializing in municipal and industrial contract operations and water and wastewater system technical operations and maintenance. The company and its subsidiaries form the Middlesex Water family of companies, which collectively serve a population of nearly half a million people in New Jersey and Delaware. Named a 2020 Top Workplace in New Jersey and a 2020 Superstar in Business in Delaware, Middlesex is diligently focused on meeting and balancing the needs of its employees, customers, and shareholders. The company invests in its people, its infrastructure and the communities it serves to support reliable and resilient utility services, economic growth and quality of life.

Company profile

Ticker

MSEX

Exchange

NASDAQ

Website

www.middlesexwater.com

CEO

Dennis W. Doll

Incorporated

New Jersey

Location

New Jersey

Fiscal year end

Dec 31

Sector

Utilities > Water Supply and Irrigation Systems

Industry (SIC)

Water Supply

American Water Works • Essential Utilities • California Water Service • American States Water • Golden State Water • Artesian Resources • York Water • Global Water Resources • AquaVenture • Consolidated Water ...

SEC CIK

0000066004

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Tidewater Utilities, Inc. • Pinelands Water Company • Pinelands Wastewater Company • Utility Service Affiliates (Perth Amboy) Inc. • Utility Service Affiliates, Inc. • Twin Lakes Utilities, Inc. ...

IRS number

221114430

MSEX stock data

1M 1Y 5Y

News

From Benzinga Pro

Middlesex Water Q2 EPS $0.50 Down From $0.62 YoY, Sales $39.70M Up From $36.70M YoY

29 Jul 22

Middlesex Water (NASDAQ:MSEX) reported quarterly earnings of $0.50 per share. This is a 19.35 percent decrease over earnings of $0.62 per share from the same period last year. The company reported $39.70 million in

Benzinga's Top Ratings Upgrades, Downgrades For June 24, 2022

24 Jun 22

Upgrades

Janney Montgomery Scott Upgrades Middlesex Water to Buy

24 Jun 22

Janney Montgomery Scott analyst Michael Gaugler upgrades Middlesex Water (NASDAQ:MSEX) from Neutral to Buy.

Stocks That Hit 52-Week Lows On Tuesday

14 Jun 22

Press releases

From Benzinga Pro

Middlesex Water Reports Second Quarter 2022 Earnings

29 Jul 22

ISELIN, N.J., July 29, 2022 (GLOBE NEWSWIRE) -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ:MSEX) a provider of water and wastewater services, today reported second quarter financial results. Second

Middlesex Water Declares Dividend

22 Jul 22

ISELIN, N.J., July 22, 2022 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced that its Board of Directors has declared a cash dividend of $0.29 per share on its common stock payable on September 1,

Middlesex Water Company Hosts Annual Meeting of Shareholders

25 May 22

ISELIN, N.J., May 25, 2022 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX), a provider of water and wastewater and related services held its Annual Meeting of Shareholders exclusively online on May 23, 2022

Calendar

29 Jul 22

16 Aug 22

31 Dec 22

Financial summary

Financial statements Chart MSEX financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	4.32M	4.32M	4.32M	4.32M	4.32M	4.32M
Cash burn (monthly)	(no burn)	155.75K	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	n/a	244.7K	n/a	n/a	n/a	n/a
Cash remaining	n/a	4.08M	n/a	n/a	n/a	n/a
Runway (months of cash)	n/a	26.2	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

MSEX insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
21 Jun 22	Ginegaw Lorrie Beth	Common Stock (Street Account)	Sell	Dispose S	No	No	80.34	620	49.81K	155
5 Apr 22	Sohler Bernadette M	Common Stock (Book Entry)	Payment of exercise	Acquire F	No	No	105.17	553	58.16K	2,978
5 Apr 22	Sohler Bernadette M	Common Stock (Restricted Stock Book Entry)	Payment of exercise	Dispose F	No	No	105.17	1,188	124.94K	4,385
5 Apr 22	A Bruce Oconnor	Common Stock - (Book Entry)	Payment of exercise	Acquire F	No	No	105.17	1,312	137.98K	16,545
5 Apr 22	A Bruce Oconnor	Common Stock (Restricted Stock Book Entry)	Payment of exercise	Dispose F	No	No	105.17	2,660	279.75K	12,265
5 Apr 22	Doll Dennis W	Common Stock (Book Entry)	Payment of exercise	Acquire F	No	No	105.17	4,067	427.73K	4,067
5 Apr 22	Doll Dennis W	Common Stock (Restricted Stock Book Entry)	Payment of exercise	Dispose F	No	No	105.17	8,147	856.82K	32,246
5 Apr 22	Andreasen Christian G. Jr.	Common Stock (Book Entry)	Payment of exercise	Acquire F	No	No	105.17	154	16.2K	5,581
5 Apr 22	Andreasen Christian G. Jr.	Common Stock (Restricted Stock Book Entry)	Payment of exercise	Dispose F	No	No	105.1717	347	36.49K	2,660

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

MSEX institutional ownership history Ownership history

70.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	197	202	-2.5%
Opened positions	22	36	-38.9%
Closed positions	27	19	+42.1%
Increased positions	60	60	–
Reduced positions	67	64	+4.7%

13F shares	Current	Prev Q	Change
Total value	1.3B	1.43B	-9.3%
Total shares	12.45M	11.98M	+3.9%
Total puts	0	300	EXIT
Total calls	6.6K	23.9K	-72.4%
Total put/call ratio	–	0.0	–

Largest owners	Shares	Value	Change
BLK Blackrock	2.74M	$287.68M	-0.4%
STT State Street	1.6M	$167.97M	+179.6%
Vanguard	1.32M	$138.36M	+1.9%
TROW T. Rowe Price	857.62K	$90.2M	-43.2%
Pictet Asset Management	798.52K	$83.98M	+25.4%
Dimensional Fund Advisors	459.39K	$48.31M	-0.8%
IVZ Invesco	396.21K	$41.67M	+17.6%
Geode Capital Management	314.05K	$33.03M	+2.3%
First Manhattan	223.74K	$23.53M	+2.1%
Renaissance Technologies	215.3K	$22.64M	-10.3%

Largest transactions	Shares	Bought/sold	Change
STT State Street	1.6M	+1.03M	+179.6%
TROW T. Rowe Price	857.62K	-651.67K	-43.2%
Pictet Asset Management	798.52K	+161.64K	+25.4%
Eaton Vance Management	66.11K	+65.96K	+44565.5%
Janney Montgomery Scott	6.5K	-60.17K	-90.2%
IVZ Invesco	396.21K	+59.3K	+17.6%
Aaron Wealth Advisors	45.22K	+45.22K	NEW
SG Americas Securities	26.99K	-39.08K	-59.1%
HRT Financial	0	-32.55K	EXIT
Jane Street	29.62K	+26.07K	+736.1%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Avg

New words: Advocate, awaiting, awarded, chemical, confirmation, District, Division, dry, ground, heightened, high, hold, impleaded, inflationary, intention, introducing, introduction, lawsuit, Mine, newly, objected, original, originally, Qualitative, reassigned, Remove, repaid, rescheduling, sampling, seasonal, Senior, Simultaneously, successfully, Superior, support, surface, surrender, temperature, thousand, trial, turn, turned, unable, Unregistered, vigorously, voluntarily

Removed: achieved, behalf, Bruce, Calculation, Carl, converted, cover, cyber, delaying, document, Doll, duly, Edison, embedded, employed, foreseeable, Inline, Instance, interactive, interconnect, Linkbase, mile, moratorium, October, Olsen, outlook, page, participant, pipeline, placement, Presentation, registrant, remediation, Schema, securitized, seek, TESI, thereunto, transaction, transmission, undersigned, unknown, withdrawal, XBRL

From filing 10-Q 2022 Q2

Financial reports

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