Middlesex Water Company’s (MSEX - Free Report) steady capital investment, customer additions and organic growth are boosting its performance.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) stock a strong investment pick at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Growth Projections
The Zacks Consensus Estimate for 2021 earnings per share and revenues is pegged at $2.27 and $146 million, suggesting an increase of 4.1% and 3.1%, respectively, from the year-ago reported figures.
The consensus mark for 2022 earnings and revenues is pegged at $2.5 per share and $153 million, respectively. The bottom- and top-line estimates suggest a 10.1% and 4.8% year-over-year increase, respectively.
Surprise History & Dividend Yield
Middlesex Water’s trailing four-quarter earnings surprise is 0.5%, on average.
Courtesy of its steady performance, management has been able to increase dividend for 48 consecutive years. Its dividend yield is currently pegged at 1.01%.
Regular Investments
Middlesex Water makes consistent investments to upgrade and maintain the existing infrastructure for providing 24x7 reliable services to the expanding customer base. The company has plans to invest $314 million during the 2021-2023 time period to strengthen its water and wastewater infrastructure as well as provide services to customers in a safe, reliable, and efficient manner.
Another water utility, American Water Works (AWK - Free Report) is also very active in upgrading its water and wastewater infrastructure as well as making regular investment. American Water has plans to invest $10.4 billion in the 2021-2025 time period and $22-$25 billion in the next decade.
Return on Equity (ROE)
ROE is a measure of a company’s financial performance and shows how it is utilizing its funds. Middlesex Water’s ROE is currently pegged at 11.17%, better than the industry average of 10.58%, which indicates that the company is utilizing its funds more efficiently than peers.
Price Performance
Over the past six months, the stock has gained 30.6% compared with the industry’s growth of 5.8%.
Other Stocks to Consider
Other top-ranked stocks in the same sector include California Water Service Group (CWT - Free Report) and Black Hills Corporation (BKH - Free Report) , each currently holding a Zacks Rank #2 (Buy).
California Water Service delivered an average earnings surprise of 15.4% in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved up 1.7% in the past 30 days.
Long-term (three to five years) earnings growth of Black Hills is currently pegged at 5.09%. The Zacks Consensus Estimate for 2021 earnings has moved up 0.3% in the past 30 days.
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Middlesex Water Company’s (MSEX - Free Report) steady capital investment, customer additions and organic growth are boosting its performance.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) stock a strong investment pick at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Growth Projections
The Zacks Consensus Estimate for 2021 earnings per share and revenues is pegged at $2.27 and $146 million, suggesting an increase of 4.1% and 3.1%, respectively, from the year-ago reported figures.
The consensus mark for 2022 earnings and revenues is pegged at $2.5 per share and $153 million, respectively. The bottom- and top-line estimates suggest a 10.1% and 4.8% year-over-year increase, respectively.
Surprise History & Dividend Yield
Middlesex Water’s trailing four-quarter earnings surprise is 0.5%, on average.
Courtesy of its steady performance, management has been able to increase dividend for 48 consecutive years. Its dividend yield is currently pegged at 1.01%.
Regular Investments
Middlesex Water makes consistent investments to upgrade and maintain the existing infrastructure for providing 24x7 reliable services to the expanding customer base. The company has plans to invest $314 million during the 2021-2023 time period to strengthen its water and wastewater infrastructure as well as provide services to customers in a safe, reliable, and efficient manner.
Another water utility, American Water Works (AWK - Free Report) is also very active in upgrading its water and wastewater infrastructure as well as making regular investment. American Water has plans to invest $10.4 billion in the 2021-2025 time period and $22-$25 billion in the next decade.
Return on Equity (ROE)
ROE is a measure of a company’s financial performance and shows how it is utilizing its funds. Middlesex Water’s ROE is currently pegged at 11.17%, better than the industry average of 10.58%, which indicates that the company is utilizing its funds more efficiently than peers.
Price Performance
Over the past six months, the stock has gained 30.6% compared with the industry’s growth of 5.8%.
Other Stocks to Consider
Other top-ranked stocks in the same sector include California Water Service Group (CWT - Free Report) and Black Hills Corporation (BKH - Free Report) , each currently holding a Zacks Rank #2 (Buy).
California Water Service delivered an average earnings surprise of 15.4% in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved up 1.7% in the past 30 days.
Long-term (three to five years) earnings growth of Black Hills is currently pegged at 5.09%. The Zacks Consensus Estimate for 2021 earnings has moved up 0.3% in the past 30 days.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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