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4 Reasons to Add Middlesex Water (MSEX) to Your Portfolio Now
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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.
Growth Projections
The Zacks Consensus Estimate for 2023 earnings per share is pinned at $2.23, reflecting growth of 0.5% in the past 60 days.
The Zacks Consensus Estimate for 2023 revenues is pegged at $172 million, suggesting an increase of 5.9% from the year-ago reported figures.
Long Dividend History & Dividend Yield
Courtesy of its steady performance, management has been able to increase dividends for 50 consecutive years. MSEX’s current annual dividend rate is $1.25 per share and its dividend yield is currently pegged at 1.58%.
Regular Investments
Middlesex Water makes consistent investments to upgrade and maintain existing infrastructure to provide reliable 24x7 services to its expanding customer base. The company plans to invest $266 million during the 2023-2025 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 investments. American Water has plans to invest $2.9 billion in 2023 and more over the next decade.
Return on Equity
Return on equity (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 9.23%, better than the industry average of 8.98%, which indicates that the company is utilizing its funds more efficiently than peers.
Price Performance
Over the past six months, the stock has lost 2% compared with the industry’s decline of 38.1%.
American States Water’s long-term (three- to five-year) earnings growth is pinned at 6.3%. It delivered an average earnings surprise of 15.4% in the last four quarters. The Zacks Consensus Estimate for 2023 earnings has moved up by 0.33% in the past 60 days.
SJW Group reported a positive earnings surprise of 20.97% in the trailing four quarters. The Zacks Consensus Estimate for 2023 earnings has moved up by 0.4% in the past 90 days.
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4 Reasons to Add Middlesex Water (MSEX) to Your Portfolio Now
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.
Growth Projections
The Zacks Consensus Estimate for 2023 earnings per share is pinned at $2.23, reflecting growth of 0.5% in the past 60 days.
The Zacks Consensus Estimate for 2023 revenues is pegged at $172 million, suggesting an increase of 5.9% from the year-ago reported figures.
Long Dividend History & Dividend Yield
Courtesy of its steady performance, management has been able to increase dividends for 50 consecutive years. MSEX’s current annual dividend rate is $1.25 per share and its dividend yield is currently pegged at 1.58%.
Regular Investments
Middlesex Water makes consistent investments to upgrade and maintain existing infrastructure to provide reliable 24x7 services to its expanding customer base. The company plans to invest $266 million during the 2023-2025 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 investments. American Water has plans to invest $2.9 billion in 2023 and more over the next decade.
Return on Equity
Return on equity (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 9.23%, better than the industry average of 8.98%, which indicates that the company is utilizing its funds more efficiently than peers.
Price Performance
Over the past six months, the stock has lost 2% compared with the industry’s decline of 38.1%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Other top-ranked stocks in the same industry include American States Water (AWR - Free Report) and SJW Group (SJW - Free Report) , each currently holding a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American States Water’s long-term (three- to five-year) earnings growth is pinned at 6.3%. It delivered an average earnings surprise of 15.4% in the last four quarters. The Zacks Consensus Estimate for 2023 earnings has moved up by 0.33% in the past 60 days.
SJW Group reported a positive earnings surprise of 20.97% in the trailing four quarters. The Zacks Consensus Estimate for 2023 earnings has moved up by 0.4% in the past 90 days.