Welcome to our dedicated page for Middlesex Watr news (Ticker: MSEX), a resource for investors and traders seeking the latest updates and insights on Middlesex Watr stock.
Middlesex Water Company (NASDAQ: MSEX) is an investor-owned water and wastewater utility serving customers in New Jersey, Delaware and Pennsylvania. This news page aggregates company announcements, earnings releases and other updates that help investors and observers follow developments affecting MSEX stock and the company’s regulated and non-regulated operations.
Readers can find coverage of quarterly and year-to-date earnings results, including details on operating revenues, expenses and segment performance as reported in company press releases and related Form 8-K filings. Middlesex Water regularly reports on capital investment levels in its water and wastewater infrastructure, highlighting spending to upgrade, replace and enhance the resiliency of treatment facilities, distribution mains and related assets.
News items also include regulatory and rate case developments, such as petitions to the New Jersey Board of Public Utilities and the Delaware Public Service Commission for base rate changes and distribution system improvement charges. These updates provide context on how the company seeks to recover prudently incurred investments and support safe and reliable service.
Investors can track dividend declarations and increases, including information on the company’s long history of paying cash dividends and its multi-decade record of annual dividend growth. Additional coverage may feature participation in industry conferences, board and governance updates and selective acquisitions of water utility assets that align with the company’s selective and sustainable growth pillar.
For anyone monitoring MSEX news, this page offers a centralized view of the company’s financial disclosures, regulatory milestones, infrastructure initiatives and corporate actions, helping users understand how these events relate to Middlesex Water’s long-term strategy and utility operations.
Middlesex Water Company (Nasdaq:MSEX) has announced the retirement of Bernadette M. Sohler, Vice President of Corporate Affairs, effective December 31, 2024. Sohler, who joined the company in 1994, has been a key member of the executive leadership team since 2007. Her 30-year career at Middlesex included overseeing corporate communications, branding initiatives, digital media, community engagement, investor and media relations, and sustainability reporting.
As part of the company's succession planning and organizational realignment, Jennifer Ketschke has been hired as investor relations director, reporting to CFO Rally Zerhouni. Summer DeFeo, Director of Communications, will continue to support other corporate affairs activities.
Middlesex Water Company (NASDAQ:MSEX) has been named a finalist in Ragan's PR Daily Awards, a prestigious recognition platform for the communications industry. The company is being recognized in the Video: Single Use category for its employee onboarding video, which introduces new employees to the company's culture, mission, vision, values, and commitment to service and safety.
Bernadette Sohler, Vice President of Corporate Affairs at Middlesex Water, highlighted that the video was a strategic collaboration between Communications and Human Resources. The goal was to create content that helps employees feel informed, supported, and understand their role in delivering essential water services.
The winners will be announced at the PR Daily Awards Luncheon on December 11, 2024, at the City Winery in New York City. This event will bring together top communications professionals to celebrate the year's accomplishments.
Middlesex Water Company (NASDAQ:MSEX) has announced that its Vice President of Enterprise Engineering, G. Christian Andreasen, Jr. P.E., will be speaking at the Second Annual Gabelli Funds PFAS Symposium on September 26 at 2:30 pm (ET) at the Harvard Club in New York City. The event will bring together experts, policymakers, and industry executives to discuss critical issues related to PFAS (Per- and Polyfluoroalkyl substances).
The conference aims to address the environmental and public health challenges posed by PFAS, their persistence in the environment, and effective treatment technologies. Andreasen, with over 40 years of experience in water and wastewater utility operations, oversees capital program project development, delivery, and asset management initiatives at Middlesex Water.
Nadine Leslie, President and CEO of Middlesex Water, highlighted Andreasen's leadership in cultivating expertise and solutions for treating PFAS in groundwater in New Jersey, positioning the company to respond to stricter EPA regulations and serve as a resource for local municipalities.
Middlesex Water Company (MSEX) has announced its participation in the 4th Annual Virtual Water Utilities Conference hosted by Janney Montgomery Scott on September 19, 2024. CEO Nadine Leslie and CFO Rally Zerhouni will provide a company update at 1:00 p.m. ET.
The virtual conference, moderated by Michael Gaugler, Janney Senior Analyst and Managing Director of Utility & Infrastructure, will feature a live presentation and webcast. Investors can access the event in real-time or view a replay at https://wsw.com/webcast/jms13/msex/1693846 or on the company's website under the Investors section. The presentation will remain available for 90 days following the event.
Middlesex Water Company (NASDAQ:MSEX) has announced that its Vice President, General Counsel and Secretary, Jay L. Kooper, has been named a finalist in the 2024 New Jersey Legal Awards, sponsored by the New Jersey Law Journal. Kooper is a finalist in the In-House Impact awards category. The winners will be announced on October 29, 2024 at Park Chateau Estate in East Brunswick, New Jersey.
Kooper, appointed to his current role in March 2014, serves on the Board of Directors of the National Association of Water Companies (NAWC) and chairs NAWC's New Jersey Chapter. He also serves on the Board of Consultors of the New Jersey State Bar Association's Public Utility Law Section and is a Past Chair of the Section. Middlesex Water Company President and CEO Nadine Leslie praised Kooper's expertise in navigating legal and regulatory matters for the company and his leadership within the water and wastewater industry.
Tidewater Utilities, a subsidiary of Middlesex Water Company (Nasdaq:MSEX), has filed for a rate adjustment with the Delaware Public Service Commission. This is the company's first request for a rate change in over a decade, aimed at recovering $150 million invested in critical drinking water infrastructure improvements. The investments include:
- Construction of two 1,000,000-gallon elevated water storage tanks
- Upgrades to treatment plants
- Installation of interconnections for redundant capacity
- Addition of backup generation at 30+ facilities
- Water main realignments and hydrant installations
Tidewater is seeking a total annual revenue increase of $10.3 million. If approved, the average residential customer's bill would increase by about $13.97 per month.
Middlesex Water Company (NASDAQ:MSEX) reported strong financial results for Q2 2024. Net income increased 6.5% to $10.5 million, with diluted earnings per share rising to $0.59 from $0.55 in Q2 2023. Quarterly consolidated operating revenues grew 14.8% to $49.1 million, driven by NJBPU-approved base rate increases and higher commercial and industrial billings in the Middlesex System.
Year-to-date performance showed significant improvement, with net income up $5.5 million and diluted EPS reaching $1.18, compared to $0.88 in the same period of 2023. The company's focus on infrastructure investment through RENEW and Water for Tomorrow® programs continues, with plans to file a general rate case in Delaware in Q3 2024. Middlesex also declared a quarterly dividend of $0.325 per share, marking its 51st consecutive year of dividend increases.
Middlesex Water Company (NASDAQ:MSEX) has declared a quarterly cash dividend of $0.325 per share on its common stock. The dividend is payable on September 3, 2024 to shareholders of record as of August 15, 2024. This announcement continues the company's long-standing tradition of paying cash dividends, which it has maintained continually since 1912.
Middlesex Water provides regulated and unregulated water and wastewater utility services, primarily in New Jersey and Delaware, through various subsidiary companies. The company's commitment to consistent dividend payments reflects its financial stability and dedication to shareholder value.
Middlesex Water Company (NASDAQ: MSEX) has appointed Mohammed G. (Rally) Zerhouni as the new Senior Vice President, Chief Financial Officer, and Treasurer, effective June 24, 2024. This strategic succession follows a comprehensive search to replace A. Bruce O’Connor, who will retire on June 21, 2024, after 34 years of service. Zerhouni brings over 20 years of finance experience in the regulated utility sector, having held senior roles at SJW Group and Veolia North America. Middlesex Water President and CEO Nadine Leslie expressed confidence in Zerhouni's ability to navigate industry challenges and maintain financial excellence. The company serves nearly half a million people in New Jersey and Delaware, providing a range of water and wastewater services.
Middlesex Water Company is initiating a $9.7 million project to upgrade Woodbridge, NJ’s drinking water infrastructure, starting June 2024. The initiative, part of the RENEW program, will update 18,550 linear feet of water mains, service lines, valves, and hydrants. Additionally, the 'Knocking Out Lead' program aims to replace lead and galvanized steel service lines, aligning with New Jersey’s mandate to replace all such lines by 2031, at no direct cost to qualifying customers. This is the 29th year of the RENEW program, aiming to maintain system resiliency and protect public health. The project is expected to complete in 8-9 months, with road restoration by spring 2025. Weekly updates will be provided online, and temporary water outages will be communicated in advance.