Growth StrategyThere is a bullish outlook on the company's growth strategy, driven by a strong capital expenditure profile for the next 3 years.
Regulatory DevelopmentsThe forward outlook remains very positive, with the Delaware rate case entering the final stages of the process, and an expected New Jersey rate case filing sometime in 2025.
ValuationMiddlesex Water is trading near its lowest NTM P/E level in the last decade, representing a ~30% discount to its five-year average, making its valuation particularly attractive.