Middlesex Water (NAS: MSEX)
Company Information
Description: Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania. The company has two operating segments, Regulated and Non-Regulated. The regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. The non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company's revenue is derived from the Regulated segment and from residential customers.
Sector: Utilities
Industry: Utilities - Regulated Water
Capital Structure (06/30/2021)
Comm Shares Outst (M): 17.5
Preferred Stock (M): 2.1
Long Term Debt (M): 277.2
Total Debt (M): 315.9
Total Capital (M): 673.1
LT Debt as % of Capital: 41.2%
Price (10/18/2021)
Present Price: $106.07
Annual Dividend (Ind.): $1.09
Yield: 1.03%
52-Week High: $116.40
52-Week Low: $63.56
Annual Financial History (Fiscal Year ends Dec 31)
Fiscal Year20162017201820192020
Sales (M)132.9130.8138.1134.6141.6
Pre-Tax Profit (M)33.933.232.027.630.3
Net Income (M)22.722.832.433.838.3
EPS1.381.381.962.012.18
Low Price25.032.234.051.048.8
NOTE: Primary earnings until 1998 and diluted earnings from continuing operations thereafter.
Quarterly Financial History
 6/20209/202012/20203/20216/2021Change (%)
Sales (M)35.339.934.632.536.74.0%
Pre-Tax Profit (M)7.811.75.64.78.59.8%
EPS0.550.720.470.390.6212.7%
NOTE: Bold items have been updated from a preliminary source.
Historical Growth Rates, 5 Years
Sales Growth: 1.6% EPS Growth: 13.8%
Evaluating Management
Fiscal Year20162017201820192020Average
% PTP on Sales25.5%25.4%23.2%20.5%21.4%23.2%
% Earned on Equity10.3%9.9%13.1%12.7%11.1%11.4%
Price/Earnings History and Valuation Trends
YearHi PriceLo PriceEPSHi P/ELo P/EDivPayoutHi Yield
201644.525.01.3832.218.10.8158.6%3.2%
201746.732.21.3833.923.40.8662.2%2.7%
201860.334.01.9630.817.30.9146.5%2.7%
201967.551.02.0133.625.40.9848.6%1.9%
202076.148.82.1834.922.41.0447.8%2.1%
Average P/E Ratio: 27.2 Current P/E Ratio: 48.2
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Report copyright © 2021, BetterInvesting, All rights reserved.