Middlesex Watr Stock Price, News & Analysis

Tidewater Utilities, a subsidiary of Middlesex Water Company (NASDAQ:MSEX), has appointed Bruce E. Patrick, P.E., as Executive Vice President. Mr. Patrick, who will continue as General Manager, is expected to enhance strategic oversight in capital projects and stakeholder relationships. His background includes significant roles in Kent County and the Delaware Department of Natural Resources. Tidewater, serving Delaware since 1964, specializes in water and wastewater services, emphasizing sustainable practices to support local communities.

Middlesex Water Company (NASDAQ:MSEX) announced the appointment of Robert J. Capko as Principal Accounting Officer effective April 1, 2023. Capko, who also serves as Corporate Controller, will assume enhanced duties in external financial reporting and capital financing. Having joined the company in 2009, he brings experience from Deloitte & Touche LLP, focusing on public utilities. Middlesex Water’s Chairman and CEO, Dennis W. Doll, emphasized Capko's background and knowledge as a strong addition to the leadership team. Established in 1897, Middlesex Water serves nearly half a million people in New Jersey and Delaware, offering a range of utility services.

Middlesex Water Company (NASDAQ:MSEX) announced financial results for the year ended December 31, 2022, revealing consolidated operating revenues of $162.4 million, a $19.3 million increase from 2021. This growth was driven by a $21.6 million rise in its New Jersey system due to a base rate increase and higher demand. Operating expenses rose to $79.1 million, up $5.4 million, primarily due to increased labor, production costs, and weather-related issues. Net income increased by $5.9 million to $42.4 million, with earnings per share up to $2.39. The company declared a quarterly dividend of $0.3125, marking its 50th consecutive year of dividend increases.

Middlesex Water Company (NASDAQ:MSEX) announced a limited-time 3% discount on purchases of its Common Stock through the Company’s Investment Plan, effective March 1, 2023. This offer applies to all shares bought via optional cash payment or dividend reinvestment and will last until either 200,000 shares are purchased at the discounted price or December 1, 2023, whichever comes first. The shares will be priced at 97% of their fair market value during this period. Proceeds from these purchases will fund capital projects, including the Water For Tomorrow® program, aimed at enhancing service quality and infrastructure reliability.

Middlesex Water Company (NASDAQ:MSEX) has declared a cash dividend of $0.3125 per share, payable on March 1, 2023, to shareholders of record as of February 14, 2023. This marks a continuation of the company’s commitment to returning value to shareholders, having consistently paid dividends since 1912. The company provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware, serving nearly 500,000 people through various subsidiaries. Middlesex Water aims to support economic growth and quality of life through investments in infrastructure and community services.

Middlesex Water Company (NASDAQ:MSEX) will participate in the Bank of America Securities 2022 Virtual Water Conference on December 6, 2022, at 2:15 PM. Key representatives, including Chairman Dennis Doll, will discuss financial performance and recent developments in the water sector. Investors can access the live webcast at this link, and a replay will be available shortly after. Established in 1897, Middlesex provides high-quality water and wastewater services to nearly half a million people in New Jersey and Delaware.

Middlesex Water Company (NASDAQ:MSEX) reported a 19.7% increase in quarterly operating revenue, totaling $47.7 million, and a 24.5% rise in net income to $14.3 million for Q3 2022. Diluted earnings per share reached $0.80, up from $0.65 in Q3 2021. The growth was driven by a base rate increase in New Jersey and higher customer demand. Operating expenses rose by $1.4 million, primarily due to increased main break activity and labor costs. The company declared a cash dividend of $0.3125, marking its 50th consecutive year of dividend increases, effective December 1, 2022.

Middlesex Water Company (NASDAQ:MSEX) announced a cash dividend increase of 7.76%, raising it to $0.3125 per share from $0.29. This elevates the annual dividend rate to $1.25 from $1.16, payable on December 1, 2022 to shareholders as of November 16, 2022. This milestone marks the company's 50th consecutive year of dividend increases, reflecting its commitment to shareholder value and operational excellence.