State of New Jersey Common Pension Fund D Increases Stake in Middlesex Water by 7.4% in 1st Quarter
July 27, 2023
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Middlesex Water ($NASDAQ:MSEX) is a publicly traded water utilities and services company based in New Jersey, United States. The State of New Jersey Common Pension Fund D recently increased its ownership of Middlesex Water shares by 7.4% during the first quarter. This is the fund’s first significant investment in the company in several years and marks an increased commitment to the company from the fund. This move is expected to increase Middlesex Water’s visibility among investors and may lead to an increase in the company’s share price over time.
With increased support from major investors, Middlesex Water can continue to secure capital to fund its growth and expand its operations. It is expected that this move will bring long-term benefits for the company and its shareholders.
Analysis
At GoodWhale, we have conducted a comprehensive analysis of MIDDLESEX WATER‘s financials. Through our review, we have determined that MIDDLESEX WATER is a medium risk investment in terms of financial and business aspects. In addition, our analysis has revealed two risk warnings present in the MIDDLESEX WATER’s balance sheet and cashflow statement. To access these warnings and gain more insight into MIDDLESEX WATER’s financial standing, register with us now. More…
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% |
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
Analysts have pointed to Middlesex Water‘s consistent and steady performance as one of the main reasons for the increased interest, with the stock having remained relatively stable in comparison to the broader market. Additionally, Middlesex Water is considered to be a safe investment by providing reliable income through its water services business. With the company’s long-term outlook still being positive, this could be an attractive stock for investors in the near future.
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