Middlesex Watr Stock Price, News & Analysis

Middlesex Water Company celebrates its 125th anniversary with the dedication of a new ozone treatment facility in Edison, New Jersey. The $70 million investment enhances water treatment processes by replacing sodium hypochlorite with ozone, ensuring compliance with stricter drinking water regulations and reducing harmful disinfection by-products. The facility was completed in 2021 in collaboration with Northeast Remsco Construction and Jacobs Engineering Group. The ceremony included recognition of the company's commitment to water quality and public health, alongside a Risk Management Excellence Award.

Middlesex Water Company (NASDAQ:MSEX) will participate in a Virtual Water Utilities Conference on September 22, 2022, at 9:00 a.m. (ET). The event, hosted by Janney Montgomery Scott, will feature Chairman Dennis W. Doll and Corporate Controller Robert J. Capko. Attendees can access the live presentation and a replay the following day. Established in 1897, Middlesex Water provides essential water and wastewater services to nearly half a million residents in New Jersey and Delaware. More details can be found on their official website.

Middlesex Water Company’s subsidiary, Utility Service Affiliates, Inc., has secured a 10-year management contract with the Borough of Avalon, New Jersey, effective September 1, 2022. This contract involves the management of the Borough’s water and sewer utility operations, including maintenance and customer services. The company has been involved in these operations for the past ten years. Middlesex Water, a provider of water and wastewater services in New Jersey and Delaware, emphasizes its capabilities in handling complex regulatory requirements and ensuring operational excellence for community residents.

Middlesex Water Company (NASDAQ:MSEX) reported second quarter 2022 results, with operating revenues rising by $3.0 million to $39.7 million compared to Q2 2021. Revenue growth in New Jersey was driven by a rate increase, while Delaware revenues declined slightly due to fewer customer connection fees and the sale of a subsidiary. Net income decreased by $2.1 million to $8.9 million, while diluted EPS fell from $0.62 to $0.50. The Board declared a quarterly dividend of $0.29, maintaining a 49-year history of annual increases.

Middlesex Water Company (NASDAQ:MSEX) has announced a cash dividend of $0.29 per share, payable on September 1, 2022. Shareholders of record must hold shares by August 12, 2022. The company has a long history of dividend payments, having paid continuously since 1912 and increasing its annual dividend for 49 consecutive years. Additionally, the current 3% discount on Common Stock purchases under its Investment Plan is set to conclude on August 1, 2022.

Middlesex Water Company has successfully completed Phase 1 of its advanced treatment facility at the Park Avenue wellfield, ensuring compliance with state and federal drinking water standards. The facility has begun a phased start-up process, reintroducing treated groundwater into the distribution system. This initiative is crucial for meeting seasonal water demands, especially as summer approaches. The company is committed to maintaining water quality throughout the treatment process, monitoring for any changes in water hardness and temporary discoloration during initial phases.

Middlesex Water Company (NASDAQ:MSEX) held its Annual Meeting of Shareholders on May 23, 2022. Shareholders re-elected four directors and approved an advisory resolution on executive compensation. The meeting discussed financial results, capital investments, and operational highlights, including upgrades to treatment plants and lead service line replacements. They also announced a current 3% Stock Purchase Discount. Middlesex Water has been a provider since 1897, serving nearly half a million people in New Jersey and Delaware.

Middlesex Water Company (NASDAQ:MSEX) reported a robust performance for Q1 2022, with revenues rising by $3.7 million to reach $36.2 million. The net income surged by $5.2 million, resulting in a diluted EPS increase of $0.29. The revenue growth was primarily attributed to a rate increase approved by the New Jersey Board of Public Utilities effective January 1, 2022, alongside customer growth in Delaware. A significant pre-tax gain of $5.2 million from the sale of its Delaware regulated wastewater subsidiary also contributed to positive earnings.

Middlesex Water Company (NASDAQ:MSEX) has declared a cash dividend of $0.29 per share on its common stock, payable on June 1, 2022, to shareholders of record as of May 13, 2022. The company has consistently paid dividends since 1912 and maintains an impressive track record with 49 consecutive years of dividend increases. The Annual Meeting of Shareholders is scheduled for May 23, 2022, at 11:00 a.m. EDT. Additionally, Middlesex Water is offering a 3% discount on common stock purchases made under its Investment Plan.