Middlesex Water Company PFD 7%
MSEXP
Other OTC589.00
USD
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Middlesex Water Company PFD 7%
MSEXP
(Other OTC)
Recent
price
589.00
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Middlesex Water Company (NASDAQ:MSEX), established in 1897 and headquartered in Iselin, New Jersey, provides a full range of regulated and non-regulated water and wastewater utility services primarily in New Jersey and Delaware; its core offerings include water production, treatment, and distribution for residential, commercial, industrial, municipal, and fire protection customers; regulated wastewater collection, treatment, and disposal; full-service municipal contract operations; design/build/own/operate system assets; public/private partnerships; water and wastewater system maintenance; and water/sewer line maintenance programs through third-party vendors. The company operates through two main segments, regulated utilities serving approximately 61,000 retail customers in eastern Middlesex County, New Jersey, and contract sales to wholesale customers covering about 110 square miles with a population of 219,000, alongside non-regulated operations for municipalities, private entities, developers, communities, and government agencies such as Dover Air Force Base. Tidewater Utilities, Inc., a wholly owned subsidiary, extends services in Delaware, including the Fortescue System in New Jersey's Cumberland County. Recent strategic expansions include Tidewater Utilities' acquisition of the Town of Ocean View's water assets in Sussex County, Delaware, for $4.6 million in early 2025, adding 900 customers, and the execution of an asset purchase agreement in October 2025 to acquire Pinewood Acres water utility assets in Kent County, Delaware, for $0.2 million, serving approximately 350 customers, aligning with the MWC2030 growth strategy. The company invested $72 million in water and wastewater infrastructure during the first nine months of 2025, representing 77% of its $93 million annual capital budget, and plans $387 million in investments from 2025 through 2027, including $105 million for PFAS treatment at the Carl J. Olsen surface water treatment plant and a $70 million plant upgrade for resiliency. In October 2025, it filed a fourth Distribution System Improvement Charge rate application expected to generate $0.9 million in annual revenues, supplementing existing DSIC revenues of $2.3 million, and declared a 5.88% increased common stock cash dividend of $0.36 per share.