에 대한 최신 뉴스 Middlesex Water (NASDAQ:MSEX) 주식

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.

Middlesex Water Co

MIDDLESEX WATER 7 PR by Middlesex Water Co.

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>

News

MSEX

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

Price Target

Analyst Ratings

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

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

Trading Ideas

Middlesex Water Insider Trades SendAa Signal

Management

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

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 beat the analyst consensus estimate of $0.45 by 31.11 percent. The company reported quarterly sales of $40.500 million which missed the analyst consensus estimate of $44.550 million by 9.09 percent. This is a 6.14 percent increase over sales of $38.156 million the same period last year.

Earnings Beats

Middlesex Water Q1 2024 GAAP EPS $0.59 Beats $0.45 Estimate, Sales $40.500M Miss $44.550M Estimate

Middlesex Water Implements Its Strategy For Compliance With New More Stringent Federal Regulations For PFAS

American Water Works (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/awk#NYSE">AWK</a>) has announced that its unit, Pennsylvania American Water, will invest $2.5 million to replace 3,300 feet of water mains in South Park Township, Allegheny County. This new upgrade will provide high-quality, reliable and affordable water service and fire protection to the customers in the region. 
Since a major portion of water and wastewater pipelines are nearing toward end of effective service life, timely repair, maintenance and upgrades become essential to provide reliable services to customers. 
Pennsylvania American Water has been upgrading and maintaining its water and wastewater infrastructure. It has invested nearly $688 million in 2023 for infrastructure upgrades. The company will continue investing to make essential upgrades and maintain aging assets in the long term.
<h3>Large Investment Needed In Water Space</h3>
Per U.S. Environmental Protection Agency, investments of $625 billion and $271 billion are necessary to maintain and expand drinking water and wastewater pipelines, respectively, for meeting demand over the next 20 years. Water infrastructure, like water mains, storage tanks and purifying units, needs maintenance at proper intervals. 
American Water aims to invest $3.1 billion in 2024, with a major portion utilized for infrastructure improvements in Regulated Businesses. Over the long term, AWK aims to invest in the range of $16-$17 billion in 2024-2028 and $34-$38 billion in 2024-2033. 
Other water utilities, like Essential Utilities (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wtrg#NYSE">WTRG</a>), California Water Service Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cwt#NYSE">CWT</a>) and Middlesex Water (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>), have well-chalked-out capital investment plans to strengthen infrastructure. 
Essential Utilities plans to invest $1.3-$1.4 billion in 2024 and $7.2 billion in 2024-2028 to improve water and natural gas systems, and better serve customers with the help of improved information technology. 
California Water Service plans to invest more than $365 million in capital expenditures in 2024. 
Middlesex Water plans to invest $226 million during 2024-2026 to strengthen its water and wastewater infrastructure, and provide services to customers in a safe, reliable and efficient manner. 
The Zacks Consensus Estimate for WTRG, CWT and MSEX&#39;s 2024 earnings indicates growth of 9.7%,147.3% and 29.6% from the year-ago levels, respectively.
<h3>Price Performance</h3>
Over the last six months, American Water has gained 1.3% compared with the industry&#39;s 7.9% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4f/64415.jpg?v=1969195199" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
American Water currently has a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2251311/american-water-s-awk-unit-to-invest-2-5m-in-system-upgrade?cid=CS-BENZ-FT-analyst_blog|company_news_-_corporate_actions-2251311">To read this article on Zacks.com click here.</a>

Small Cap

WTRG

American Water's (AWK) Unit to Invest $2.5M in System Upgrade

Although U.S. stocks closed lower on Friday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Greif </h3>
<ul>
<li>The Trade: Greif, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gef#NYSE">GEF</a>) EVP and CFO Lawrence A. Hilsheimer <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings"> acquired a total of 7,363 shares </a> an average price of $65.06. To acquire these shares, it cost around $479,067.</li>
<li>What&rsquo;s Happening: On Feb. 28, Greif posted upbeat quarterly earnings.</li>
<li>What Greif Does: Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries.</li>
</ul>
<h3>EchoStar </h3>
<ul>
<li>The Trade: EchoStar Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sats#NASDAQ">SATS</a>) Director James Defranco acquired a total of 90,000 shares at an average price of $13.21. To acquire these shares, it cost around $1.19 million.</li>
<li>What&rsquo;s Happening: On Feb. 29, EchoStar reported a year-over-year decrease in fourth-quarter EPS results.</li>
<li>What EchoStar Does: Following the Dish Network merger, satellite television provides the bulk of EchoStar&#39;s revenue. The firm serves about 7 million U.S. customers, about 10% of the traditional television market.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Middlesex Water </h3>
<ul>
<li>The Trade: Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>) Director James F.. Cosgrove Jr <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 1,600 shares </a> at an average price of $51.70. To acquire these shares, it cost around $82,720.</li>
<li>What&rsquo;s Happening: On Feb. 29, Middlesex Water posted downbeat quarterly results.</li>
<li>What Middlesex Water Does: 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.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37553898/cramer-says-sprout-social-is-in-a-hot-spot-but-this-energy-stock-is-too-down-and-out"> Cramer Says Sprout Social Is In A &#39;Hot Spot,&#39; But This Energy Stock Is &#39;Too Down And Out&#39; </a>

Long Ideas

Pre-Market Outlook

Markets

SATS

Over $1M Bet On EchoStar? Check Out These 3 Stocks Insiders Are Buying

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 lowers the price target from $69 to $59.

Baird Maintains Outperform on Middlesex Water, Lowers Price Target to $59

Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) reported quarterly earnings of $0.32 per share which missed the analyst consensus estimate of $0.52 by 38.46 percent. This is a 20 percent decrease over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $38.60 million which missed the analyst consensus estimate of $44.90 million by 14.03 percent. This is a 0.57 percent decrease over sales of $38.82 million the same period last year.

Middlesex Water Q4 EPS $0.32 Misses $0.52 Estimate, Sales $38.60M Miss $44.90M Estimate

Middlesex Water Company Names Nadine Leslie As President & CEO

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>PNM Resources, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnm#NYSE">PNM</a>)</h3>
<ul>
<li>On Jan. 2, Avangrid, a member of the Iberdrola S.A. Group, terminated the merger agreement with PNM Resources, as all final regulatory approvals were not received by Dec. 31, 2023. &quot;We are greatly disappointed with Avangrid&#39;s decision to terminate the merger agreement and its proposed benefits to our customers, communities and shareholders,&quot; said Pat Vincent-Collawn, PNM Resources Chairman and CEO. The company&rsquo;s stock fell around 6% over the past five days and has a <a href="https://www.benzinga.com/quote/PNM">52-week low of $38.53 </a>.</li>
<li>RSI Value: 26.49</li>
<li>PNM Price Action: Shares of PNM Resources fell 0.8% to close at $39.09 on Thursday.</li>
</ul>
<h3>Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>)</h3>
<ul>
<li>On Nov. 9, Middlesex Water posted a decline in third-quarter sales. Middlesex Chairman, President and Chief Executive Officer Dennis W. Doll said, &ldquo;We continue to view the calendar year 2023 as a period of significant transition as we execute our succession plans, manage rate filing proceedings currently in progress and responsibly manage our resources.&rdquo; The company&rsquo;s stock fell around 8% over the past five days. It <a href="https://www.benzinga.com/quote/MSEX"> has a 52-week low </a> of $61.34.</li>
<li>RSI Value: 29.85</li>
<li>MSEX Price Action: Shares of Middlesex Water fell 1.6% to close at $61.96 on Thursday.</li>
</ul>

Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36484898/jim-cramer-this-energy-firm-has-good-growth-good-yield-but-as-for-ionq-ixnay"> Jim Cramer: This Energy Firm Has &#39;Good Growth, Good Yield&#39; But As For IonQ? Ixnay </a>

Top 2 Utilities Stocks That Could Blast Off In January

Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) reported quarterly earnings of $0.56 per share. This is a 30 percent decrease over earnings of $0.80 per share from the same period last year. The company reported $46.72 million in sales this quarter. This is a 2.13 percent decrease over sales of $47.73 million the same period last year.

Middlesex Water Q3 EPS $0.56 Down From $0.80 YoY, Sales $46.72M Down From $47.73M YoY

<a href="https://www.globenewswire.com/Tracker?data=JrAh9iLZKzpOF6daeLOUn0mBple-X2SHJa3hkA7EwqNPai49wEg6Yuc1jqHKFery1GewvEealmrrKasMeZJx3PG4gxl_hukV8rBFUxigz-0=">Middlesex Water Company</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) announced today that its Board of Directors has declared a cash dividend of $0.325 per share on its common stock, an increase of 4.0% from the $0.3125 per share dividend last declared in July 2023. This increase raises the annual dividend rate to $1.30 from $1.25 per share of common stock and marks Middlesex's 51st consecutive year of dividend increases. The dividend at the new rate is payable December 1, 2023 to shareholders of record as of November 16, 2023. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912. &nbsp;
Organized in 1897, Middlesex Water provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware through various subsidiary companies. To learn more about Middlesex Water, including information about its Investment Plan, visit the Investors section at <a href="https://www.globenewswire.com/Tracker?data=JrAh9iLZKzpOF6daeLOUn0mBple-X2SHJa3hkA7EwqP70vTC5s6fLm1RoB0wf5rU0YDsa7WvMzDmF-p97vijoxvI9KHf5ydKuo_5QUx_nNQ=">Middlesex Water Company</a>.
Middlesex Water is currently offering a 3% discount on all Common Stock purchases made under its Investment Plan whether by optional cash payment or by dividend reinvestment. The discount will continue until 200,000 shares are purchased at the discounted price or December 1, 2023, whichever event occurs first. To learn more visit <a href="https://www.globenewswire.com/Tracker?data=0ZoaWihlsBHU5Td0EqOq3mTjqQYvgRakjLEqBaPh5-G2I5kG8JAWNUCMZE9ZL8_F_l0yAo7evURQ4DETb6fe7oqBxtopPOw7f73wWqI1WBMVT66gzg6BhUFy1hpf68EEL6aqrG5uIAFWrUKot7eBSMkjRvDG5izrGjCijTSuw40=">https://shareholder.broadridge.com/middlesexwater</a>.

Dividends

Middlesex Water Company Increases Quarterly Dividend From $0.3125 To $0.325 Per Share

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30.</a>
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>Black Hills Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bkh#NYSE">BKH</a>)</h3>
<ul>
<li>Black Hills priced $450 million public debt offering 6.15% senior unsecured notes due May 15, 2034. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/BKH">52-week low of $51.33 </a>.</li>
<li>RSI Value: 29.77</li>
<li>BKH Price Action: Shares of Black Hills fell 0.8% to close at $51.62 on Wednesday.</li>
</ul>
<h3>Unitil Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/utl#NYSE">UTL</a>)</h3>
<ul>
<li>Unitil posted weaker-than-expected quarterly earnings. &ldquo;We are pleased with our solid second quarter and year-to-date results which reflect the Company&rsquo;s disciplined approach to cost management,&rdquo; said Thomas P. Meissner, Jr., Unitil&rsquo;s Chairman and Chief Executive Officer. It <a href="https://www.benzinga.com/quote/UTL"> has a 52-week low </a> of $43.62.</li>
<li>RSI Value: 29.25</li>
<li>UTL Price Action: Shares of Unitil fell 0.7% to close at $43.88 on Wednesday.</li>
</ul>
<h3>Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>)</h3>
<ul>
<li>Middlesex Water posted downbeat quarterly results. Middlesex Chairman, President and Chief Executive Officer Dennis W. Doll said, &ldquo;The calendar year 2023 continues to be a period of significant transition as we execute our succession plans, continue investing to adapt to new regulatory requirements, manage rate filing proceedings currently in progress and responsibly manage our resources to meet customer needs during the peak summer season.&rdquo; The company&rsquo;s stock has a 52-week <a href="https://www.benzinga.com/quote/MSEX"> low of $66.51.</a></li>
<li>RSI Value: 26.00</li>
<li>MSEX Price Action: Shares of Middlesex Water fell 0.7% to close at $67.19 on Wednesday.</li>
</ul>
<h3>Atmos Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>)</h3>
<ul>
<li>Atmos Energy posted downbeat third-quarter results. &quot;The dedication of our employees coupled with the exceptional customer service they provide to our more than 3 million customers continues to position us to achieve fiscal 2023 earnings in the range of $6.00 to $6.10 per diluted share,&quot; said Kevin Akers, President and Chief Executive Officer of Atmos Energy. The company&rsquo;s 52-week low is $97.71.</li>
<li>RSI Value: 25.54</li>
<li>ATO Price Action: Shares of Atmos Energy fell 0.5% to close at $106.46 on Wednesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/09/34965201/us-stocks-remain-volatile-as-fear-continues-to-grip-markets"> US Stocks Remain Volatile As Fear Continues To Grip Markets </a>

Top 4 Utilities Stocks You'll Regret Missing This Quarter

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30.</a>
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>)</h3>
<ul>
<li>Middlesex Water posted downbeat quarterly results. Middlesex Chairman, President and Chief Executive Officer Dennis W. Doll said, &ldquo;The calendar year 2023 continues to be a period of significant transition as we execute our succession plans, continue investing to adapt to new regulatory requirements, manage rate filing proceedings currently in progress and responsibly manage our resources to meet customer needs during the peak summer season.&rdquo; The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/MSEX">52-week low of $66.51 </a>.</li>
<li>RSI Value: 27.46</li>
<li>MSEX Price Action: Shares of Middlesex Water fell 0.7% to close at $71.89 on Tuesday.</li>
</ul>
<h3>The AES Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aes#NYSE">AES</a>)</h3>
<ul>
<li>AES posted weaker-than-expected second-quarter earnings. &quot;We are making excellent progress on our strategic priorities: tripling our installed renewables capacity by 2027; growing our US utilities&#39; rate base by more than 10% annually; and exiting coal by year-end 2025,&quot; said Andr&eacute;s Gluski, AES President and Chief Executive Officer. It <a href="https://www.benzinga.com/quote/AES"> has a 52-week low </a> of $16.89.</li>
<li>RSI Value: 28.43</li>
<li>AES Price Action: Shares of AES Corporation fell 1.2% to close at $17.03 on Tuesday.</li>
</ul>
<h3>Pure Cycle Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pcyo#NASDAQ">PCYO</a>)</h3>
<ul>
<li>Pure Cycle Corporation announced appointment of Marc Spezialy as new Chief Financial Officer. The company&rsquo;s stock has a 52-week <a href="https://www.benzinga.com/quote/PCYO"> low of $7.77.</a></li>
<li>RSI Value: 22.90</li>
<li>PCYO Price Action: Shares of Pure Cycle fell 1.1% to close at $10.37 on Tuesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/09/34521151/investor-sentiment-declines-ahead-of-key-inflation-data"> Investor Sentiment Declines Ahead Of Key Inflation Data </a>

PCYO

Top 3 Utilities Stocks That May Explode This Quarter

Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) reported quarterly earnings of $0.55 per share which missed the analyst consensus estimate of $0.60 by 8.33 percent. This is a 10 percent increase over earnings of $0.50 per share from the same period last year. The company reported quarterly sales of $42.80 million which missed the analyst consensus estimate of $45.00 million by 4.89 percent. This is a 7.86 percent increase over sales of $39.68 million the same period last year.

UPDATE: Middlesex Water Q2 EPS $0.55 Misses $0.60 Estimate, Sales $42.80M Miss $45.00M Estimate

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Over the past year, the utilities sector has notably lagged behind the overall market. The Utilities Select Sector SPDR Fund (NYSEARCA:<a href="https://investorplace.com/stock-quotes/xlu-stock-quote/">XLU</a>) has gained only a modest 6%. This largest utilities ETF underperformed the S&amp;P 500&lsquo;s significant 18% increase during the same period.



This nonsuccess can be largely attributed to persistently high interest rates. With elevated rates, investors have shifted their focus from utilities to fixed-income securities. An example is government bonds, which tend to offer higher returns with lower risk. In such an environment, the appeal of holding <a href="https://investorplace.com/industries/energy/utility/">utility stocks</a> diminishes as safer alternatives become more attractive.



Regardless, this sector-wide underperformance has led many utility stocks to trade at tempting valuations. For investors seeking value, now might be a great time to consider some names in the sector. Let&rsquo;s delve into three utility stocks that offer compelling investment cases amongst their peers. These companies offer solid fundamentals but also sturdy growth prospects and dividend stability. 



<h2>Middlesex Water (MSEX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/water_5_1600-300x169.jpg" alt="A photo of water being poured into a glass that's sitting on a table."><div>Source: HQuality/ShutterStock.com</div></div>Regulated water utility Middlesex Water Company (NASDAQ:<a href="https://investorplace.com/stock-quotes/msex-stock-quote/">MSEX</a>), a providing essential water and wastewater services to customers in New Jersey, Delaware and Pennsylvania. Established in 1897, Middlesex Water has built a robust operational framework that ensures consistent service quality and reliability.



The company is known for its exceptional track record of earnings and dividend growth. These results are predictable revenue streams inherent in regulated utilities. As a regulated water utility, Middlesex Water can adjust its rates to reflect changes in operating costs, ensuring stable and predictable cash flows. This basically allows Middlesex to consistently invest in infrastructure upgrades and expansions, further bolstering its long-term growth prospects.



Evidently, Middlesex Water has increased its dividend <a href="https://www.dividend.com/stocks/utilities/utility-networks/other/msex-middlesex-water-co/">every year over the past 51 years</a>. Yes, that&rsquo;s over five decades of consistent dividend growth despite the various recessions and economic downturns. This highlights the unique strengths of the company&rsquo;s business model. At a <a href="https://app.koyfin.com/share/209bea40f5">forward P/E of about 30X</a>, MSEX stock is not particularly cheap. Nevertheless, the stock has always traded at a steep premium.



<h2>American Water Works (AWK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/water_3_1600-300x169.jpg" alt="A zoomed in photo of a drop of water hitting a container of water's surface."><div>Source: Sambulov Yevgeniy/ShutterStock.com</div></div>The largest U.S. publicly traded water and wastewater utility is American Water Works (NYSE:<a href="https://investorplace.com/stock-quotes/awk-stock-quote/">AWK</a>). While it began trading publicly in 2008, its origins date back to 1886. Today, the company provides essential water services to roughly 14 million people across 46 states and Ontario, Canada.



As a regulated water utility that shares the same qualities as MSEX, American Water Works has managed to grow consistently and at a steady pace over the years. For context, over the past decade, its revenues <a href="https://app.koyfin.com/share/a9f8c0c4d5">have increased at a compound annual growth rate (CAGR) of 4%</a>, a modest but steady pace. Further, AWK&rsquo;s earnings-per-share have grown at a CAGR of about 9% over the same period. This is largely due to cost efficiencies and economies of scale.



Therefore, the company has no issues with rewarding shareholders with a progressive dividend. Since its public debut, American Water Works has raised its dividends annually, now <a href="https://ir.amwater.com/stock-information/dividend-history/default.aspx">counting 16 consecutive years</a> of dividend growth, with dividends per share growing at a <a href="https://app.koyfin.com/share/609d335e12">CAGR of 9.8%</a> over the past ten years. This trend is likely to continue moving forward. Thus, while the dividend yield of 2.2% may not seem too spectacular, the stock&rsquo;s dividend growth prospects remain highly attractive.



<h2>Fortis (FTS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/fts-stock-1-300x169.jpg" alt="The Fortis (FTS) website is displayed on a smartphone screen."><div>Source: madamF / Shutterstock.com</div></div>Fortis (NYSE:<a href="https://investorplace.com/stock-quotes/fts-stock-quote/">FTS</a>) is a leading utility company in Canada with a major presence across North America. The company&rsquo;s assets, which include electric and gas utilities, are highly critical to the regions they serve. Virtually 100% of Fortis&rsquo; assets are regulated, providing the company with stable and predictable cash flow, similar to Middlesex and American Water Works. This stability has been a cornerstone of Fortis&rsquo; consistent performance, enabling steady growth in both earnings and dividends over the years.



In fact, one of Fortis&rsquo; most impressive achievements is its <a href="https://www.suredividend.com/dividend-kings-fts/">streak of 50 consecutive years</a> of dividend increases. The pinnacle makes it a constituent of the elite group of stocks known as Dividend Kings. This track record clearly highlights Fortis&rsquo; ability to sustain healthy financials and continue rewarding shareholders with growing capital returns even during unfavorable economic environments.



In the meantime, shares are lagging behind in recent years due to elevated interest rates against Fortis&rsquo; growing earnings. However, the stock&rsquo;s forward P/E has been <a href="https://app.koyfin.com/share/8b4926032f">compressed to just about 17.6X</a>, somewhat under its historical average. Along with the stock coming attached to a 4.2% yield, today is a great time to consider Fortis. It&rsquo;s a quality utility to generate stable and growing income over the long term.



On the date of publication, Nikolaos Sismanis did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Nikolaos Sismanis is a professional research analyst with five years of experience in the field of equity research and financial modeling. Nikolaos has authored over 1,000 stock-related articles that focus on uncovering deep value opportunities, identifying growth stocks at reasonable valuations, and shining a spotlight on overlooked international equities.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/the-top-3-utilities-stocks-to-buy-now-summer-2024/">The Top 3 Utilities Stocks to Buy Now: Summer 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Middlesex Water GAAP EPS of $0.59, revenue of $49.15M misses by $0.25M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Middlesex Water (NASDAQ:<a href="https://investorplace.com/stock-quotes/msex-stock-quote/">MSEX</a>) just reported results for the second quarter of 2024.<ul><li>Middlesex Water reported earnings per share of 59 cents. This was below the analyst estimate for EPS of 64 cents.</li><li>The company reported revenue of $49.15 million.</li><li>This was 0.51% worse than the analyst estimate for revenue of $49.40 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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MSEX Stock Earnings: Middlesex Water Misses EPS, Misses Revenue for Q2 2024

Companies in the Utilities sector have received a lot of coverage today as analysts weigh in on Middlesex Water Company (MSEX – Research Report) an...

Analysts Offer Insights on Utilities Companies: Middlesex Water Company (MSEX) and Consolidated Edison (ED)

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Press Releases

Middlesex Water Company Names New Chief Financial Officer

Middlesex Water Company Declares Quarterly Cash Dividend

Middlesex Water Announces Second Quarter 2024 Results

Tidewater Utilities Files for Rate Adjustment

Middlesex Water General Counsel, Jay L. Kooper, Named a 2024 New Jersey Legal Awards Finalist

Gabelli Funds to Host 2nd Annual PFAS Symposium at The Harvard Club, New York, NY

Middlesex Water Company CEO Nadine Leslie and CFO Rally Zerhouni to Participate in Janney Virtual Water Utilities Conference

Middlesex Water Vice President G. Christian Andreasen to Participate in Upcoming Gabelli Funds PFAS Symposium

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