Middlesex Water Company (MSEX) AI Stock Analysis

Founded in 1896 and headquartered in Iselin, New Jersey, Middlesex Water Company operates and owns regulated water utility and wastewater systems. It operates in two core segments: Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water through retail and wholesale channels for residential, commercial, industrial, and fire protection needs, and also manages regulated wastewater systems in New Jersey and Delaware. The Non-Regulated segment provides contract operation and maintenance services for municipal and private water and wastewater systems across New Jersey and Delaware.

From FY2021 to FY2025, revenue grew from $143.1M to $194.7M, reflecting a 5-year revenue CAGR of 6.6%. Over that span, net income moved from $36.5M in FY2021 to $42.8M in FY2025, while gross margin contracted from 48.5% to 39.2%. Operating margin stood at 27.9% in FY2025 and reached 34.4% for the trailing twelve months. For the latest quarter ended June 30, 2026, quarterly revenue grew 14.3% year-over-year, while quarterly earnings increased 31.6% year-over-year. Diluted EPS reached $2.59 over the trailing twelve months compared to $2.36 in FY2025.

As of June 30, 2026, Middlesex Water Company held $1.8M in cash and short-term investments and $438.7M in total debt, resulting in net debt of $436.9M. Total assets stood at $1.42B against shareholders' equity of $522.4M, with a debt-to-equity ratio of 0.84 and a current ratio of 0.50. In FY2025, operating cash flow of $62.6M was outpaced by $96.4M in capital expenditures, producing free cash flow of -$33.8M. Dividends paid totaled $24.9M during FY2025.

At the last close of $54.59, Middlesex Water Company trades at a trailing P/E of 21.1x and a forward P/E of 28.6x, compared to medians of 20.6x and 17.2x for its US-listed Utilities peers. Its EV/EBITDA multiple is 15.0x versus the peer median of 12.1x, and its price-to-sales ratio is 5.0x against the peer median of 2.4x. Over the past year, the stock returned -4.1%, trailing the S&P 500 (SPY) return of 16.8%. Over five years, the stock returned -42.7% versus an 83.0% gain for the S&P 500.

Middlesex Water Company has paid dividends for 42 consecutive years. It offers a forward annual dividend of $1.44 per share, resulting in a dividend yield of 2.64% and a payout ratio of 55.6%. Dividends are paid quarterly, with the most recent ex-dividend date on August 17, 2026. The 5-year annualized dividend growth rate is 5.8%.

Analyst coverage consists of 1 Strong Buy, 0 Buys, 1 Hold, 0 Sells, and 0 Strong Sells. The mean price target is $61.00, which is 11.7% above the last close of $54.59. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $217.7M and EPS of $2.67, representing 13.1% EPS growth. The company beat EPS estimates in 1 of the last 4 quarters, and its next earnings date is October 30, 2026.

This page is an AI-written research summary of Middlesex Water Company (MSEX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MSEX income statement, MSEX balance sheet, MSEX key metrics, MSEX analyst forecast, MSEX chart. See the MSEX stock overview for the latest quote and news.