Everence Capital Management Invests in Middlesex Water During First Quarter
June 22, 2023
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Middlesex Water ($NASDAQ:MSEX) is a publicly traded company which provides essential products and services related to water utility operations. The company is headquartered in New Jersey and operates in seven states throughout the United States. Its products and services include water and wastewater service, water purification, and other related services.
It also provides engineering and construction services as well as energy production and renewable energy solutions. Middlesex Water is committed to providing communities with reliable and efficient services while maintaining a commitment to environmental sustainability.
Market Price
MIDDLESEX WATER stock opened at $82.8 and closed at the same price, representing a 0.4% increase from the previous closing price of 82.5. This investment is seen as a positive sign of confidence in the growth potential of Middlesex Water. Analysts have stated that this move by Everence will be beneficial for the company going forward and will likely open up more potential investment opportunities in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Middlesex Water. More…
| Total Revenues | Net Income | Net Margin |
| 164.39 | 36.08 | 20.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Middlesex Water. More…
| Operations | Investing | Financing |
| 63.36 | -99.22 | 37.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Middlesex Water. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.1k | 693.48 | 22.94 |
Key Ratios Snapshot
Some of the financial key ratios for Middlesex Water are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.6% | 6.5% | 30.4% |
| FCF Margin | ROE | ROA |
| -21.8% | 7.7% | 2.8% |
Analysis
At GoodWhale, we have conducted a comprehensive analysis of MIDDLESEX WATER’s fundamentals. Our Risk Rating has determined that MIDDLESEX WATER is a medium risk investment in terms of financial and business aspects. We have identified two risk warnings in MIDDLESEX WATER’s balance sheet and cashflow statement. To access further information on these risk warnings, become a registered user with us at GoodWhale. More…
Peers
The company’s competitors include Artesian Resources Corp, The York Water Co, and American Water Works Co Inc.
– Artesian Resources Corp ($NASDAQ:ARTNA)
Artesian Resources Corp is a water utility company that serves the greater Baltimore and Wilmington areas. The company has a market cap of 494.09M as of 2022 and a Return on Equity of 10.87%. The company is engaged in the business of providing water and wastewater services to residential, commercial, and industrial customers.
– The York Water Co ($NASDAQ:YORW)
The York Water Company, founded in 1816, is the oldest investor-owned water utility in the United States. It is a water and wastewater utility company that serves approximately 70,000 customers in south central Pennsylvania. The company’s market capitalization is $634.16 million as of 2022, and its return on equity is 8.18%. The York Water Company is committed to providing safe, reliable, and affordable water and wastewater services to its customers.
– American Water Works Co Inc ($NYSE:AWK)
American Water Works Company, Inc. is the largest investor-owned water and wastewater utility company in the United States, based on operated revenue. The company provides water and wastewater services to an estimated 14 million people in 46 states. It has approximately 7,100 employees and operates 86 utility subsidiaries. The company’s headquarters is in Camden, New Jersey.
American Water Works Company’s market capitalization is $25.28 billion as of 2022. The company’s return on equity is 17.48%.
American Water Works Company provides water and wastewater services to residential, commercial, and industrial customers in the United States. The company also supplies water to public utilities and municipalities. In addition, it engages in the wastewater treatment, desalination, and water reuse businesses.
Summary
Middlesex Water has seen a surge in investor interest in recent months. Analysts have highlighted Middlesex Water’s strong fundamentals, including robust balance sheet, low debt levels, and steady dividend. Moreover, the company’s regulated water and wastewater operations have enjoyed consistent growth, offering stakeholders reliable returns and limiting volatility.
The company’s recent acquisition of Aquarion Water Company is expected to further propel long-term performance. Given these factors, analysts are bullish on Middlesex Water’s future prospects and suggest that investors consider taking a long-term position in the stock.
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