Middlesex Water Company (MSEX) AI Stock Analysis

• Market Cap: $1.03B
• Dividend Yield: 2.67%
• Average Volume (3M): 142.42K
• Price to Earnings (P/E): 27.0
• Beta (1Y): -0.02
• Revenue Growth: 6.24%
• EPS Growth: 3.35%
• Country: US
• Employees: 360
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Water
• EPS (TTM): 0.46
• Shares Outstanding: 18,521,933
• 10 Day Avg. Volume: 96,702
• 30 Day Avg. Volume: 142,420
• PEG Ratio: -4.41
• Price to Book (P/B): 1.85
• Price to Sales (P/S): 4.69
• P/FCF Ratio: -27.07
• Enterprise Value/Market Cap: 1.40
• Enterprise Value/Revenue: 7.45
• Enterprise Value/Gross Profit: 16.21
• Enterprise Value/Ebitda: 15.36
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 2.59
• Revenue Forecast (FY): $216.87M

• Rating: 67 Neutral
• Price Target: $59.00 ▲(13.37% Upside)
• Action: Reiterated Date: 02/20/26
• Date: Action: Reiterated 02/20/26

The score is primarily driven by steady but mixed financial performance (good margins and operating cash flow, offset by uneven earnings and historically pressured free cash flow). Technicals are constructive with price above key moving averages and positive momentum indicators. Valuation is reasonable with dividend support, while the recent corporate event is a modest governance positive.

Positive Factors

Regulated revenue model

A regulated utility framework that allows approved rate recovery provides durable revenue visibility and margin protection. Over 2–6 months this underpins predictable cash flows, supports infrastructure spending recovery, and reduces business-cycle sensitivity relative to unregulated peers.

Negative Factors

Meaningful leverage

Leverage near 0.8–1.0 is significant for a regulated utility, increasing dependence on capital markets and sensitivity to rising interest costs. Sustained elevated leverage reduces financial flexibility for opportunistic investments and raises refinancing and credit risk over the medium term.

Middlesex Water Company Business Overview & Revenue Model

Company Description

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to re...

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Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to re...

How the Company Makes Money

Middlesex Water Company generates revenue primarily through the sale of water and wastewater services. The company operates under a regulated utility model, which means it is allowed to charge rates approved by state regulatory agencies to recover...

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Middlesex Water Company generates revenue primarily through the sale of water and wastewater services. The company operates under a regulated utility model, which means it is allowed to charge rates approved by state regulatory agencies to recover...

Middlesex Water Company Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	194.69M	191.88M	166.27M	162.43M	143.14M
Gross Profit	76.29M	99.51M	83.16M	83.34M	69.47M
EBITDA	94.43M	92.06M	72.72M	80.20M	63.31M
Net Income	42.82M	44.35M	31.52M	42.43M	36.54M
Balance Sheet
Total Assets	1.37B	1.26B	1.24B	1.07B	1.02B
Cash, Cash Equivalents and Short-Term Investments	2.80M	4.23M	2.39M	3.83M	3.53M
Total Debt	419.25M	385.96M	412.31M	366.95M	330.62M
Total Liabilities	871.71M	808.28M	810.98M	672.04M	650.21M
Stockholders Equity	494.03M	446.90M	425.07M	402.41M	369.81M
Cash Flow
Free Cash Flow	-33.76M	-15.89M	-37.40M	-29.97M	-46.35M
Operating Cash Flow	62.60M	58.73M	52.78M	61.36M	33.03M
Investing Cash Flow	-100.96M	-74.62M	-90.18M	-88.21M	-79.38M
Financing Cash Flow	38.61M	17.73M	35.96M	27.15M	39.48M

Middlesex Water Company Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 52.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MSEX, the sentiment is Positive. The current price of 52.04 is below the 20-day moving average (MA) of 52.13, below the 50-day MA of 52.75, and below the 200-day MA of 52.83, indicating a bullish trend. The MACD of 0.34 indicates Negative momentum. The RSI at 64.09 is Neutral, neither overbought nor oversold. The STOCH value of 87.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MSEX.

Middlesex Water Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WTRG	71 Outperform	$11.52B	17.43	9.18%	3.48%	21.35%	20.96%
MSEX	67 Neutral	$1.03B	26.96	9.08%	2.67%	6.24%	3.35%
AWK	66 Neutral	$26.80B	22.91	10.34%	2.51%	12.29%	13.13%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
AWR	65 Neutral	$3.11B	21.42	13.10%	2.64%	10.28%	13.56%
CWT	58 Neutral	$2.80B	20.13	7.68%	2.88%	-2.60%	-33.78%
YORW	58 Neutral	$466.40M	22.20	8.49%	2.68%	3.63%	-5.82%

Middlesex Water Company Corporate Events