Trade Middlesex Water Co - MSEX CFD

Middlesex Water Company profile

About Middlesex Water Company

Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems primarily in New Jersey and Delaware. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients primarily in New Jersey and Delaware. The Company's segments include Regulated and Non-Regulated. The Regulated segment is engaged in the business of collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey, Delaware and Pennsylvania. The Non-Regulated segment primarily consists of non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. Its Middlesex System treats, stores and distributes water for residential, commercial, industrial and fire protection purposes.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Middlesex Water Company revenues increased 1% to $143.1M. Net income applicable to common stockholders decreased 5% to $36.4M. Revenues reflect Regulated segment increase of 1% to $131.5M, Non-regulated segment increase of 2% to $12.8M. Net income was offset by Regulated segment income decrease of 13% to $29.6M. Dividend per share increased from $1.04 to $1.11.

Equity composition

Common Stock no Par, 05/11, 40M auth., 15,592,288 issd. Insiders own 3.28%. PO 5/04, 700,000 shares @ $19.80 by Janney Montgomery Scott LLC. PO 12/77, 65,000 shares @ $21 by Kidder Peabody. PO 12/98, 450,000 shares @ $24.625 by Edward Jones & Co. Cum. Preferred Stock no Par, 148,980 auth., 37,898 issd.