Middlesex Water (NASDAQ:MSEX) Bolsa

Middlesex Water

Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania. The company has two operating segments, Regulated and Non-Regulated. The regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. The non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company's revenue is derived from the Regulated segment and from residential customers.

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NOMD

OKTA

Aquí tienes cinco acciones estadounidenses que podrían llamar la atención de los inversores este lunes: CRC, NOMD, MSEX, MRC y OKTA.

5 acciones en el foco este lunes: CRC, NOMD, MSEX, MRC y OKTA

Middlesex Water Co

MIDDLESEX WATER 7 PR by Middlesex Water Co.

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Middlesex Water  shares are trading higher after Bair upgraded its rating on the stock from neutral to outperform.

Baird analyst Davis Sunderland upgrades Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) from Neutral to Outperform and maintains the price target from $61 to $61.

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Baird Upgrades Middlesex Water to Outperform, Maintains Price Target to $61

U.S. stock futures rose on Monday following Friday&#8217;s advances. Futures of all fourth benchmark indices rose in premarket trading.
Investor anxiety over tariffs loomed as the March 4 deadline for tariff imposition on Mexico and Canada neared. U.S. Commerce Secretary Howard Lutnick <a href="https://www.foxnews.com/video/6369522376112">told</a> Fox News on Sunday that President Donald Trump would decide if the government will stick to its plan to levy 25%. 
Also, China will be charged an additional 10% tariff on Tuesday, as highlighted by Trump in his Truth Social post. Furthermore, reports suggested that Mexico may agree to raise tariffs on Chinese goods to avoid the duties threatened by Trump.
Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) will report earnings this week.
Treasury yields slipped on Monday. The 10-year Treasury yield stood at 4.25%, while the two-year yield was at 4.03%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 95% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.
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<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.35%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.21%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.12%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.62%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. SPY was up 0.26% to $595.74, and QQQ advanced 0.44% to $510.34, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
Information technology, financial, and consumer discretionary sectors led the charge as U.S. stocks <a href="https://www.benzinga.com/news/earnings/25/03/44069254/nasdaq-jumps-300-points-as-nvidia-tesla-stocks-surge-investor-sentiment-improves-but-greed-index-remains-in-extreme-fear-zone">closed higher</a> on Friday. Ultimately, all sectors within the S&amp;P 500 finished the day with gains. 
The tech sector, in particular, rebounded strongly from Thursday&#8217;s losses, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surging 4% and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) climbing 3.9%.
Further bolstering investor sentiment was the release of PCE data, which showed the price index declining for the first time in four months. This data reinforced expectations, as indicated by the CME FedWatch tool, for approximately two quarter-point cuts to the Fed funds rate in 2025 after June.
The Dow Jones closed 601 points or 1.39% higher at 43,840.91 on Friday. The S&amp;P 500 rose 1.59% to 5,954.50, while the Nasdaq Composite jumped 1.63% to 18,847.28. The small-cap gauge Russell 200 advanced 1.09% to 2,163.07.
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<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
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<td>Nasdaq Composite</td>
<td>1.63%</td>
<td>18,847.28</td>
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<td>S&amp;P 500</td>
<td>1.59%</td>
<td>5,954.50</td>
</tr>
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<td>Dow Jones</td>
<td>1.39%</td>
<td>43,840.91 </td>
</tr>
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<td>Russell 2000</td>
<td>1.09%</td>
<td>2,163.07</td>
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Insights From Analysts
Ahead of the first trading day in the new month of March, Ryan Detrick, the chief market strategist at Carson Research, highlighted that this is &#8220;a solid month overall&#8221; but the bulls start to show up only after mid-month.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">March is a solid month overall, but it is the Ides of March when the&#x1f402;s tend to show up. <a href="https://t.co/DKOJ71mvE4">pic.twitter.com/DKOJ71mvE4</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1896337769275994394?ref_src=twsrc%5Etfw">March 2, 2025</a></blockquote>
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Mapping the historical data 1950 onwards, Detrick added that March, April, and May are usually solid months in post-election years.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">March/April/May tend to be solid months in a post-election years. The weak February played out, time for better times? I think so. <a href="https://t.co/ckQ9WdIyP2">pic.twitter.com/ckQ9WdIyP2</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1896324556543127641?ref_src=twsrc%5Etfw">March 2, 2025</a></blockquote>
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He further highlighted that every fifth year or the years ending with &#8216;5,&#8217; tend to be quite strong, except 2015 during which S&amp;P 500 was lower by less than 1%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Years that end in &quot;5&quot; tend to be quite strong, with only 2015 lower and that was by less than 1%. Some of those other years were very strong (1955, 1975, 1985, and 1995). <a href="https://t.co/PIJVOViUzT">pic.twitter.com/PIJVOViUzT</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1896396679949205683?ref_src=twsrc%5Etfw">March 3, 2025</a></blockquote>
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Louis Navellier of Navellier &amp; Associates suggests that the S&amp;P 500, currently riding a &#8220;very strong rally,&#8221; is due for a correction towards its rising 200-day moving average, which stood at 5701.50 as of last Friday.
According to Navellier, the index has yet to test this key moving average which did not happen in 2024, making a pullback increasingly likely. He says that the timing of this correction, whether in February or March, hinges on &#8220;multiple policy announcements by the White House,&#8221; which can be triggered by either economic or geopolitical events.
Navellier contends that the White House has been the &#8220;primary driver of volatility in stocks,&#8221; making short-term predictions difficult. He further asserts that this deliberate uncertainty serves the President&#8217;s strategic objectives.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep on this week:
<ul>
<li>On Monday, February&#8217;s S&amp;P final U.S. manufacturing PMI will be released at 9:45 a.m., ET.</li>
</ul>
<ul>
<li>January&#8217;s construction spending data and February&#8217;s ISM manufacturing data will be out by 10:00 a.m., ET.</li>
</ul>
<ul>
<li>St Louis Fed President Alberto Musalem will speak at 12:35 p.m., ET.</li>
</ul>
<ul>
<li>Also, auto sales data for February will be released today, the timing for which is yet to be announced.</li>
</ul>
<ul>
<li>On Tuesday, New York Fed President John Williams will speak at 2:20 p.m. ET, whereas, Richmond Fed President Tom Barkin will speak at an undetermined time.</li>
</ul>
<ul>
<li>On Wednesday, February&#8217;s ADP employment data will be released at 8:15 a.m., ET.</li>
</ul>
<ul>
<li>The S&amp;P final U.S. services PMI for February will be out by 9:45 a.m., ET.</li>
</ul>
<ul>
<li>January&#8217;s factory orders data and February&#8217;s ISM services data will be announced at 10:00 a.m., ET.</li>
</ul>
<ul>
<li>Fed Beige Book will be released at 2:00 p.m., ET.</li>
</ul>
<ul>
<li>On Thursday, initial jobless claims data for the week ended March 1 will be out by 8:30 a.m., ET.</li>
</ul>
<ul>
<li>U.S. productivity data for the fourth quarter and U.S. trade deficit data for January will be released at 8:30 a.m., ET as well.</li>
</ul>
<ul>
<li>January&#8217;s wholesale inventory data will be out by 10:00 a.m., ET.</li>
</ul>
<ul>
<li>Fed Governor Christopher Waller will speak at 3:30 p.m. and Atlanta Fed President Raphael Bostic will speak at 7:00 p.m.</li>
</ul>
<ul>
<li>On Friday, February&#8217;s U.S. jobs report, unemployment rate and hourly wages data will be out by 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Fed Governor Michelle Bowman will speak at 10:15 a.m., New York Fed President John Williams will speak again at 10:45 a.m., Fed Governor Adriana Kugler will speak at 12:20 p.m., and Fed Chairman Jerome Powell will speak at 12:30 p.m., ET.</li>
</ul>
<ul>
<li>January&#8217;s consumer credit data will be announced at 3:00 p.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>California Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRC#NYSE">CRC</a>) declined 3.38% in the premarket on Monday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report earnings of 97 cents per share on revenue of $897.75 million.</li>
</ul>
<ul>
<li>Nomad Foods Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOMD#NYSE">NOMD</a>) advanced 2.65% as Wall Street expects it to report quarterly earnings of 38 cents per share on revenue of $796.56 million before the opening bell.</li>
</ul>
<ul>
<li>MRC Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) was down 0.90% ahead of its earnings, which will be released after the closing bell. Analysts expect it to report quarterly earnings of 6 cents per share on revenue of $726.90 million.</li>
</ul>
<ul>
<li>Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) rose 1.12% as Wall Street expects it to report quarterly earnings of 74 cents per share on revenue of $669.46 million after the closing bell.</li>
</ul>
<ul>
<li>Middlesex Water Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) was 2.53% higher after posting better-than-expected results for its fourth quarter on Friday.</li>
</ul>
<ul>
<li>Syros Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYRS#NASDAQ">SYRS</a>) dropped 37.85% after it announced that it plans to delist from Nasdaq around March 20, after filing Form 25 with the SEC near March 10, 2025.</li>
</ul>
<ul>
<li>Vincerx Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) slumped 24.85% after terminating its reverse merger. It said that it will explore strategic options like out-licensing, M&amp;A, asset sales, wind-down of operations.</li>
</ul>
<ul>
<li>Sharplink Gaming Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>) jumped 16.19% after it acquired a 10% stake in CryptoCasino.com for $500,000, with a right of first refusal for controlling interest, aiming to enter the crypto gaming market.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 0.63% to hover around $69.33 per barrel.
The gold spot index was up by 0.37% to $2,869.27 per ounce. Its last record high was at $2,956.37 per ounce. The Dollar Index was down 0.55% at the 107.018 level.
Asian markets were mixed on Monday as India's S&amp;P BSE Sensex, China's CSI 300, and South Korea's Kospi index declined. Whereas, Japan's Nikkei 225, Australia's ASX 200, and Hong Kong's Hang Seng index advanced. European markets were mostly higher in trade.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44070799/mark-cuban-supports-trumps-new-gold-card-scheme-if-sold-to-corporations-for-employee-citizenship-have-a-look-at-t">Mark Cuban Supports Trump&#8217;s New &#8216;Gold Card&#8217; Scheme If Sold To Corporations For Employee Citizenship: Here&#8217;re The Listed-Companies With Most Number Of Immigrants</a></li>
</ul>
Image Via Shutterstock

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US Stocks Likely To Open Higher As Wall Street Watches Trump Tariff Talks: 'March, April, May Tend To Be Solid Months In Post-Election Years,' Says Expert

With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects California Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRC#NYSE">CRC</a>) to report quarterly earnings at 97 cents per share on revenue of $897.75 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. California Resources shares gained 1.8% to $45.40 in after-hours trading.</li>
<li>Analysts are expecting Nomad Foods Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOMD#NYSE">NOMD</a>) to post quarterly earnings at 38 cents per share on revenue of $796.56 million. The company will release earnings before the markets open. Nomad Foods shares gained 0.4% to $18.98 in after-hours trading.</li>
<li>Middlesex Water Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) posted better-than-expected results for its fourth quarter on Friday. Middlesex Water shares gained 2.3% to $51.30 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>After the markets close, MRC Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) is projected to post quarterly earnings at 6 cents per share on revenue of $726.90 million. MRC Global shares gained 0.3% to $12.20 in after-hours trading.</li>
<li>Analysts expect Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) to post quarterly earnings at 74 cents per share on revenue of $669.46 million after the closing bell. Okta shares gained 0.2% to $90.71 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/25/02/44054266/top-2-tech-and-telecom-stocks-that-may-implode-in-q1">Top 2 Tech And Telecom Stocks That May Implode In Q1</a></li>
</ul>
Photo courtesy: Shutterstock

California Resources, Okta And 3 Stocks To Watch Heading Into Monday

Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.36 by 36.11 percent. This is a 53.12 percent increase over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $47.107 million which beat the analyst consensus estimate of $43.000 million by 9.55 percent. This is a 22.03 percent increase over sales of $38.602 million the same period last year.

Middlesex Water Q4 2024 GAAP EPS $0.49 Beats $0.36 Estimate, Sales $47.107M Beat $43.000M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Frontline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) is estimated to report quarterly earnings at $0.27 per share on revenue of $282.62 million. 
• Nordic American Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAT#NYSE">NAT</a>) is estimated to report quarterly earnings at $0.04 per share on revenue of $53.07 million. 
• Fluent (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNT#NASDAQ">FLNT</a>) is estimated to report quarterly loss at $0.23 per share on revenue of $68.06 million. 
• Recursion Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) is expected to report quarterly loss at $0.41 per share on revenue of $18.17 million. 
• Oxford Square Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OXSQ#NASDAQ">OXSQ</a>) is projected to report quarterly earnings at $0.06 per share on revenue of $9.90 million. 
• Integral Ad Science (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) is estimated to report quarterly earnings at $0.25 per share on revenue of $148.94 million. 
• PAR Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAR#NYSE">PAR</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $99.26 million. 
• ANI Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANIP#NASDAQ">ANIP</a>) is expected to report quarterly earnings at $0.31 per share on revenue of $175.12 million. 
• TeraWulf (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $37.36 million. 
• Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) is estimated to report quarterly earnings at $0.90 per share on revenue of $5.80 billion. 
• Rapid Micro Biosystems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPID#NASDAQ">RPID</a>) is expected to report quarterly loss at $0.22 per share on revenue of $7.60 million. 
• FuboTV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUBO#NYSE">FUBO</a>) is estimated to report quarterly loss at $0.11 per share on revenue of $444.91 million. 
• Butterfly Network (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) is expected to report quarterly loss at $0.08 per share on revenue of $21.01 million. 
• Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRP#NYSE">NRP</a>) is projected to report earnings for its fourth quarter. 
• Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) is expected to report quarterly loss at $0.37 per share on revenue of $191.93 million. 
• Calumet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) is estimated to report quarterly loss at $0.36 per share on revenue of $929.11 million. 
• 1stdibs.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DIBS#NASDAQ">DIBS</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $22.02 million. 
• LandBridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LB#NYSE">LB</a>) is projected to report quarterly earnings at $0.78 per share on revenue of $244.81 million. 
• Fulgent Genetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLGT#NASDAQ">FLGT</a>) is estimated to report quarterly loss at $0.37 per share on revenue of $75.39 million. 
• Owens &amp; Minor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $2.73 billion. 
• Amneal Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRX#NASDAQ">AMRX</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $700.83 million. 
• Banco Latinoamericano (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLX#NYSE">BLX</a>) is likely to report quarterly earnings at $0.44 per share on revenue of $251.03 million. 
• Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>) is expected to report quarterly earnings at $3.23 per share on revenue of $1.18 billion. 
• Alpha Metallurgical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) is estimated to report quarterly earnings at $1.12 per share on revenue of $683.10 million. 
• Docebo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $56.24 million. 
• Northwest Natural Hldg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NWN#NYSE">NWN</a>) is expected to report quarterly earnings at $1.49 per share on revenue of $395.05 million. 
<h3>Companies Reporting After The Bell</h3>
• BIT Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>) is estimated to report earnings for its fourth quarter. 
• Monroe Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCC#NASDAQ">MRCC</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $14.99 million. 
• Longeveron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) is projected to report quarterly loss at $0.36 per share on revenue of $660 thousand. 
• Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) is likely to report quarterly earnings at $0.37 per share on revenue of $45.00 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For February 28, 2025

BofA Securities analyst Ross Fowler initiated coverage on Middlesex Water Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) with an Underperform rating and <a target="_blank" href="https://www.benzinga.com/quote/MSEX/analyst-ratings" rel="noreferrer noopener">a price forecast of $56.</a>
Fowler notes that Middlesex Water is the most expensive utility in their coverage, trading at a 47% premium to the utility group and a 13% premium to the water group.
Despite strong past growth, the analyst projects rate base and EPS growth to slow below the peer average, which, combined with increasing regulatory risk and uncertainty around capital spending, makes the current valuation unjustified.
The analyst acknowledges Middlesex Water&#8217;s recent growth but does not see any catalyst for further share price appreciation, even with more aggressive capital expenditure assumptions.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/legal/24/12/42444582/albertsons-puts-an-end-to-merger-deal-sues-kroger-following-court-ruling-we-believe-strongly-in-the-merits-of-our-case" rel="noreferrer noopener">Albertsons Puts End To Merger Deal, Sues Kroger Following Court Ruling: &#8216;We Believe Strongly In The Merits Of Our Case&#8217;</a>
Fowler forecasts Middlesex Water&#8217;s EPS to grow at a 5.2% CAGR from 2024 to 2027, with estimates of $2.34 in 2024, $2.45 in 2025, $2.59 in 2026, and $2.72 in 2027.
The analyst forecasts capital expenditures to exceed guidance, driven by the national push for water quality investment, resulting in a 7.6% annual rate base growth through 2027.
However, this is slower than the recent 15% rate base growth driven by one-time water quality investments.
Per the analyst, the focus on limiting water customer bill increases will restrict further upside for Middlesex Water, especially as the company relies more on frequent rate cases.
Additionally, Middlesex Water may need to raise external equity starting in 2025, forecasting $25 million per year to bring its equity capitalization closer to authorized levels.
The analyst notes that Middlesex Water expects 4% customer growth in 2024, but acknowledges that economic conditions could make achieving that growth challenging.
The analyst assumes 4% growth for 2024, but adjusts it to 3% in their model.
The analyst also points out that if growth slows down, it could negatively impact revenue and capital expenditure estimates.
Price Action: MSEX shares are trading lower by 1.66% to $60.31 at last check Wednesday.
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Image via Shutterstock.

Initiation

Middlesex Water Faces Valuation Pressure: Analyst Flags Slowing Growth And Rising Regulatory Risks

B of A Securities analyst Ross Fowler initiates coverage on Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) with a Underperform rating and announces Price Target of $56.

B of A Securities Initiates Coverage On Middlesex Water with Underperform Rating, Announces Price Target of $56

<a href="https://www.globenewswire.com/Tracker?data=RStI-Eh5ZELBq7ZL7G-QBxlErYxTLAPvtV51a1k8H3KnWszbj2ti19uebhw7GWFQ3ce_q6rFvE8kHIB45a22cePjTzLcXiJ3Yvs4Bydq8dE=">Middlesex Water Company</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>), a provider of water and wastewater and related services primarily in New Jersey and Delaware, today announced that Gregory Sorensen has been named as its Vice President and Chief Operating Officer, effective December 16, 2024, as part of ongoing strategic succession planning and organizational realignment efforts.

Management

Middlesex Water Names Gregory Sorensen VP And COO, Effective December 16, 2024, As Part Of Ongoing Strategic Succession Planning And Organizational Realignment Efforts.

Baird analyst Ben Kallo maintains Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) with a Neutral and raises the price target from $58 to $61.

Baird Maintains Neutral on Middlesex Water, Raises Price Target to $61

Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.69 by 15.94 percent. This is a 42.86 percent increase over earnings of $0.56 per share from the same period last year. The company reported quarterly sales of $55.100 million which beat the analyst consensus estimate of $52.400 million by 5.15 percent. This is a 17.95 percent increase over sales of $46.715 million the same period last year.

Earnings Beats

Middlesex Water Q3 2024 GAAP EPS $0.80 Beats $0.69 Estimate, Sales $55.100M Beat $52.400M Estimate

Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-31. Here's what investors need to know before the announcement.
Analysts estimate that Middlesex Water will report an earnings per share (EPS) of $0.68. 
The announcement from Middlesex Water is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Historical Earnings Performance</h3>
In the previous earnings release, the company missed EPS by $0.05, leading to a 0.83% drop in the share price the following trading session.
Here's a look at Middlesex Water's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.64</td>
<td>0.46</td>
<td>0.52</td>
<td>0.87</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.59</td>
<td>0.59</td>
<td>0.32</td>
<td>0.56</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>5.0%</td>
<td>1.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730322125_0.png" alt="eps graph" />
<h3>Insights Shared by Analysts on Middlesex Water</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Middlesex Water.
Analysts have provided Middlesex Water with 1 ratings, resulting in a consensus rating of Neutral. The average one-year price target stands at $58.0, suggesting a potential 8.68% downside.
<h3>Understanding Analyst Ratings Among Peers</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of SJW Gr, Essential Utilities and American Water Works, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The prevailing sentiment among analysts is an Neutral trajectory for SJW Gr, with an average 1-year price target of $63.0, implying a potential 0.8% downside.</li>
<li>The prevailing sentiment among analysts is an Buy trajectory for Essential Utilities, with an average 1-year price target of $44.75, implying a potential 29.54% downside.</li>
<li>The consensus outlook from analysts is an Underperform trajectory for American Water Works, with an average 1-year price target of $142.0, indicating a potential 123.59% upside.</li>
</ul>
<h3>Comprehensive Peer Analysis Summary</h3>
The peer analysis summary provides a snapshot of key metrics for SJW Gr, Essential Utilities and American Water Works, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Middlesex Water</td>
<td>Neutral</td>
<td>14.82%</td>
<td>$27.32M</td>
<td>2.44%</td>
</tr>
<tr>
<td>SJW Gr</td>
<td>Neutral</td>
<td>12.29%</td>
<td>$97.82M</td>
<td>1.65%</td>
</tr>
<tr>
<td>Essential Utilities</td>
<td>Buy</td>
<td>-0.53%</td>
<td>$258.17M</td>
<td>1.23%</td>
</tr>
<tr>
<td>American Water Works</td>
<td>Underperform</td>
<td>4.74%</td>
<td>$722M</td>
<td>2.75%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Middlesex Water ranks in the middle for Consensus rating among its peers. It is at the bottom for Revenue Growth. It is at the top for Gross Profit. It is at the top for Return on Equity.
<h3>Unveiling the Story Behind Middlesex Water</h3>
Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania. The company has two operating segments, Regulated and Non-Regulated. The regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. The non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company's revenue is derived from the Regulated segment and from residential customers.
<h3>Financial Insights: Middlesex Water</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Middlesex Water displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 14.82%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Utilities sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 21.4%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Middlesex Water's ROE excels beyond industry benchmarks, reaching 2.44%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Middlesex Water's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.83% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Middlesex Water's debt-to-equity ratio is below the industry average. With a ratio of 1.01, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/MSEX/earnings">To track all earnings releases for Middlesex Water visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exploring Middlesex Water's Earnings Expectations

Dividends

Middlesex Water Increases Quarterly Dividend From $0.325 To $0.34 Per Share

Tidewater Utilities, Inc. ("Tidewater" or the "Company"), a wholly owned subsidiary of Middlesex Water Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) filed a request today with the Delaware Public Service Commission (PSC) for new rates in order to recover prudently incurred investments made in the last ten years to support continued regulatory compliance, enhance water quality, service reliability, security and resiliency of its water utility infrastructure assets. &nbsp;
Since its last filing more than ten years ago, the Company has invested over $150 million in critical drinking water infrastructure improvements that are not currently reflected in customer base rates. These capital expenditures reflect construction of new and rehabilitation of existing water treatment plants, addition of standby power generation, establishment of interconnections, construction of new storage facilities and other upgrades. Specific improvements include:&nbsp;
<ul>
<li>Construction of a 1,000,000-gallon elevated water storage tank in South Rehoboth and another 1,000,000-gallon elevated water storage tank in Millville, DE to address peak hour demand and fire protection needs</li>
<li>Construction and\or enhanced treatment upgrades at several plant facilities</li>
<li>Installation of interconnections that provide redundant capacity and storage for peak demand and system resiliency</li>
<li>Installation of back up generation at 30+ facilities to minimize service interruption and support plant resiliency</li>
<li>Regulatorily required water main realignments to support state road improvement plans
<ul>
<li>Installation of additional hydrants to provide fire protection coverage</li>
</ul>
</li>
</ul>

Middlesex Water Co's Tidewater Utilities Files For Rate Adjustment With The Delaware Public Service Commission

Baird analyst Ben Kallo downgrades Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) from Outperform to Neutral and maintains the price target from $58 to $58.

Downgrades

Baird Downgrades Middlesex Water to Neutral, Maintains Price Target to $58

Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) reported quarterly earnings of $0.59 per share which missed the analyst consensus estimate of $0.64 by 7.81 percent. This is a 7.27 percent increase over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $49.15 million which missed the analyst consensus estimate of $49.40 million by 0.51 percent. This is a 14.82 percent increase over sales of $42.80 million the same period last year.

Earnings Misses

Middlesex Water Q2 EPS $0.59 Misses $0.64 Estimate, Sales $49.15M Miss $49.40M Estimate

A significant insider buy by Mohammed G Zerhouni, SVP at Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>), was executed on June 26, and reported in the recent SEC filing.
What Happened: In a significant move reported in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000066004/000110465924075065//Archives/edgar/data/66004/000110465924075065/0001104659-24-075065-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday, Zerhouni purchased 2,043 shares of Middlesex Water, demonstrating confidence in the company's growth potential. The total value of the transaction stands at $105,010.
Middlesex Water's shares are actively trading at $52.33, experiencing a down of 0.0% during Thursday's morning session.
<h3>Delving into Middlesex Water's Background</h3>
Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania. The company has two operating segments, Regulated and Non-Regulated. The regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. The non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company's revenue is derived from the Regulated segment and from residential customers.
<h3>Unraveling the Financial Story of Middlesex Water</h3>
Revenue Growth: Middlesex Water displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 6.21%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Utilities sector.
Insights into Profitability:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 49.5%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Middlesex Water's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 0.6.
</li>
</ul>
Debt Management: Middlesex Water's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.0.
Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 25.93 suggests caution, as the stock may be overvalued in the eyes of investors.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 5.56 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 17.52, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
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<h3>Exploring the Significance of Insider Trading</h3>
Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>Deciphering Transaction Codes in Insider Filings</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates grant, award or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000066004">Check Out The Full List Of Middlesex Water's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Middlesex Water Insider Trades SendAa Signal

Middlesex Water Appoints Mohammed G. Zerhouni As Senior Vice President, CFO And Treasurer

Middlesex Water Company (Middlesex) is launching a $9.7 million project to upgrade Woodbridge, New Jersey's drinking water infrastructure. Starting in June 2024, the Company's RENEW initiative will revamp 18,550 linear feet of water mains, including service lines, valves, and hydrants. &nbsp;
Integrated with RENEW, Middlesex's "Knocking Out Lead" program aims to eliminate lead or galvanized steel service lines. This aligns with New Jersey's legislation to replace all such lines by 2031. There is no direct cost to customers who meet the criteria for lead and galvanized water line replacement. Those identified lead service lines will be scheduled for future replacement.

Middlesex Water Company Unveils $9.7M Initiative To Enhance Water Infrastructure In Woodbridge, New Jersey's Drinking Water Infrastructure

Baird analyst Ben Kallo maintains Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) with a Outperform and raises the price target from $56 to $58.

Baird Maintains Outperform on Middlesex Water, Raises Price Target to $58

Press Releases

Middlesex Water Company Announces Retirement of Bernadette Sohler, VP of Corporate Affairs

Middlesex Water to Report 3rd Quarter 2024 Earnings on October 31

Middlesex Water Company Increases Common Dividend by 4.62%

Middlesex Water Announces Third Quarter 2024 Financial Results

Middlesex Water Names Gregory Sorensen  Vice President and Chief Operating Officer

Middlesex Water Announces Retirement of G. Christian Andreasen, Vice President, Enterprise Engineering

Middlesex Water Company Declares Quarterly Cash Dividend

Middlesex Water Company to Report 2024 Earnings on February 28, 2025

Middlesex Water Company Announces Appointment of Brian Hague as new Vice President of Communications & Corporate Affairs

Middlesex Water Company Reports 2024 Financial Results

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