MSEX Middlesex Water Company featured news, full reports, and detailed charts
Middlesex Water Company (MSEX) Wrap Up:
Middlesex Water Company (“Middlesex”) was incorporated as a water utility company in 1897 and owns and operates regulated water utility and wastewater systems in New Jersey and Delaware. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware. The terms “the Company,” “we,” “our,” and “us” refer to Middlesex Water Company and its subsidiaries, including Tidewater Utilities, Inc. (Tidewater) and Tidewater’s wholly-owned subsidiaries, Southern Shores Water Company, LLC (Southern Shores) and White Marsh Environmental Systems, Inc. (White Marsh). The Company’s other subsidiaries are Pinelands Water Company (Pinelands Water) and Pinelands Wastewater Company (Pinelands Wastewater) (collectively, Pinelands), Utility Service Affiliates, Inc. (USA), Utility Service Affiliates (Perth Amboy) Inc., (USA-PA) and Tidewater Environmental Services, Inc. (TESI). ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f10%2f0000914317-08-000733.html#FIS_BUSINESS"www.middlesexwater.com
269 Employees
Founded in 1897
Middlesex Water Co. (MSEX:NASDAQ)
LAST $15.91 USD
CHANGE TODAY -0.09 -0.56%
VOLUME 26.7K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Middlesex Water Co. (MSEX)
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OPEN
$15.84
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PREVIOUS CLOSE
$16.00
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DAY HIGH
$16.09
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DAY LOW
$15.81
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52 WEEK HIGH
12/19/08 - $17.93
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52 WEEK LOW
03/9/09 - $11.64
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MARKET CAP
214.8M
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AVERAGE VOLUME 3 mo
41.6K
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DILUTED EPS TTM
$0.73
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SHARES OUTSTANDING
13.5M
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EX-DATE
11/10/09
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P/E TTM
21.6x
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DIVIDEND
$0.72
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DIVIDEND YIELD
4.53%
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| K = Thousands M = Millions B = Billions | ||
MSEX Top Compensated Officers
Mr. Dennis W. Doll
Vice Chairman of the Board, Chief Executive O...
Age: 50
Total Annual Compensation: $352.6K
Mr. A. Bruce O'Connor
Chief Financial Officer, Principal Accounting...
Age: 50
Total Annual Compensation: $204.3K
Mr. Ronald F. Williams P.E
Chief Operating Officer, Assistant Secretary ...
Age: 59
Total Annual Compensation: $191.9K
Mr. Kenneth J. Quinn
Vice President, Secretary, General Counsel an...
Age: 61
Total Annual Compensation: $156.2K
Mr. Richard M. Risoldi
Vice President of Subsidiary Operations
Age: 52
Total Annual Compensation: $171.5K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Middlesex Water Co. (MSEX)
Middlesex Water Co. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009; Declares Quarterly Cash Dividend Payable on December 1, 2009
10/30/2009
Middlesex Water Co. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. The company reported operating income of $7,324,000, income before income taxes of $6,179,000 and earnings applicable to common stock of $3,975,000 or $0.29 per diluted share against operating income of $8,384,000, income before income taxes of $6,864,000 and earnings applicable to common stock of $4,663,000 or $0.35 per diluted share for the same period a year ago. Operating revenues for the period was $25,498,000 against $25,653,000 for the same period a year ago. For the nine months, the company reported operating revenues of $69,164,000 against $69,543,000 for the same period a year ago. The company reported operating income of $15,873,000, income before income taxes of $12,362,000 and earnings applicable to common stock of $8,078,000 or $0.60 per diluted share against operating income of $19,555,000, income before income taxes of $15,338,000 and earnings applicable to common stock of $10,118,000 or $0.75 per diluted share for the same period a year ago. The company's Board of Directors approved an increase in the company's quarterly cash dividend to $0.1800 from $0.1775. The new dividend rate is payable on December 1, 2009 to shareholders of record as of November 13, 2009. This dividend increase raises the annual dividend to $0.72 from $0.71 per share of common stock.
Middlesex Water Co. expected to Report Fiscal Year 2009 Results on March 8, 2010. This event was calculated by Capital IQ (Created on October 30, 2009).
10/30/2009
Middlesex Water Co. expected to Report Fiscal Year 2009 Results on March 8, 2010. This event was calculated by Capital IQ (Created on October 30, 2009).
Middlesex Water Co. Announces Resignation of Beard Miller Company LLP, Appoints ParenteBeard as Independent Registered Public Accounting Firm
10/2/2009
On October 1, 2009, Middlesex Water Co. was notified that the audit practice of Beard Miller Company LLP an independent registered public accounting firm, was combined with ParenteBeard LLC in a transaction pursuant to which Beard combined its operations with ParenteBeard and certain of the professional staff and partners of Beard joined ParenteBeard either as employees or partners of ParenteBeard. On October 1, 2009, Beard resigned as the auditors of the company and with the approval of the Audit Committee of the Company's Board of Directors, ParenteBeard was engaged as its independent registered public accounting firm.
MSEX Competitors
| Company | Last | Change |
| Artesian Resources Corp | $16.60 USD | +0.20 |
| Connecticut Water Service Inc | $22.80 USD | +0.01 |
| Consolidated Water Co Ltd | $12.84 USD | 0.00 |
| Pennichuck Corp | $23.23 USD | +0.25 |
| York Water Co | $13.88 USD | -0.02 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | MSEX | Industry Range |
| Price/Earnings | 21.9x |
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| Price/Sales | 2.4x |
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| Price/Book | 1.5x |
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| Price/Cash Flow | 11.6x |
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| TEV/Sales | 0.4x |
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MSEX |
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MSEX transactions
| Type Date |
Target |
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Merger/Acquisition
November 5, 2009 |
Twin Lakes Water Services, Inc. |
More Recent News About Middlesex Water Company
More news for MSEX
PSC Approves Tidewater Utilities Rate Settlement
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
MIDDLESEX WATER CO Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion and analysis should be read in conjunction with the unaudited condensed consolidated financial statements of the Company included elsewhere herein and with the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Forward-Looking Statements Certain statements contained in this periodic report and in the documents incorporated by reference constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. The Company intends that these statements be covered by the safe harbors created under those laws. These statements include, but are not limited to: - statements as to expected financial condition, performance, prospects and earnings of the Company; - statements regarding strategic plans for growth; - statements regarding the amount and timing of rate increases and other regulatory matters; - statements regarding expectations and events concerning capital expenditures; - statements as to the Company's expected liquidity needs during current annual fiscal period and beyond and statements as to the sources and availability of funds to meet its liquidity needs; - statements as to expected rates, consumption volumes, service fees, revenues, margins, expenses and operating results; - statements as to the Company's compliance with environmental laws and regulations and estimations of the materiality of any related costs; - statements as to the safety and reliability of the Company's equipment, facilities and operations; - statements as to financial projections; - statements as to the ability of the Company to pay dividends; - statements as to the Company's plans to renew municipal franchises and consents in the territories it serves; - expectations as to the amount o...Click here to read the whole Article (external link)
MIDDLESEX WATER CO Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue25,499 23,082 20,583 21,495 Cost of Revenue15,691 11,676 11,855 15,630 Gross Profit9,808 11,406 8,728 5,865 Operating ExpensesResearch Development - - - - Selling General and Administrative310 3,749 3,640 (649)Non Recurring - - - - Others2,174 2,110 2,086 2,050 Total Operating Expenses - - - - Operating Income or Loss7,324 5,547 3,002 4,464 Income from Continuing OperationsTotal Other Income/Expenses Net(81)383 409 358 Earnings Before Interest And Taxes7,243 5,930 3,411 4,822 Interest Expense1,064 1,766 1,392 1,896 Income Before Tax6,179 4,164 2,019 2,926 Income Tax Expense2,152 1,318 658 1,002 Minority Interest - - - - Net Income From Continuing Ops4,027 2,846 1,361 1,924 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Cha...Click here to read the whole Article (external link)
Middlesex Water Company Reports Third Quarter 2009 Financial Results
ISELIN, NJ--(Marketwire - 10/30/09) - Middlesex Water Company (NASDAQ:MSEX - News) today reported operating results for the quarter ended September 30, 2009. Third Quarter Operating ResultsConsolidated operating revenues, for the third quarter of 2009, decreased by less than $0.2 million from the same period in 2008. Revenues in the Middlesex system in New Jersey decreased $0.5 million as a result of abnormally lower water consumption across all customer classes. In the third quarter, we experienced a 6.9% decline in water use by our general retail metered customers, which includes commercial and industrial customers. Water consumption patterns for many larger industrial customers were lower than normal as a number of these businesses have reduced output from their individual production processes. A significant factor impacting water consumption was unseasonably cool, wet weather patterns in the mid-Atlantic region which persisted throughout the quarter. In the Tidewater Utilities system in Delaware, water consumption revenues decreased by $0.5 million, largely attributable to the same weather patterns. Revenues improved $0.7 million in that system, a result of interim rates which took effect in March 2009 and customer growth. Revenues from our contract operations business rose $0.2 million, due mostly to higher pass-through charges and scheduled management fee increases. Higher expenses offset higher revenues realized with the pass-through charges.Middlesex Water Company CEO, Dennis W. Doll, said, "A pattern of bel...Click here to read the whole Article (external link)
MIDDLESEX WATER CO Files SEC form 8-K, Financial Statements and Exhibits
Show all filings for MIDDLESEX WATER CO | Request a Trial to NEW EDGAR Online Pro Form 8-K for MIDDLESEX WATER CO 30-Oct-2009Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not in...Click here to read the whole Article (external link)
Middlesex Water Acquires Twin Lakes Water Services, Inc. in Shohola, Pennsylvania
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
Middlesex Water Company COO, Ronald F. Williams to Retire at End of 2009
ISELIN, NJ--(Marketwire - 11/17/09) - Ronald F. Williams, Vice President - Operations & Chief Operating Officer of Middlesex Water Company, (NASDAQ:MSEX - News) has announced that he will retire at the end of 2009. Mr. Williams has served in his position since joining the Company in 1995. During his tenure at Middlesex he has led the company through numerous operational successes including: a $30 million upgrade to the company's largest water treatment plant; installation of a 500 kilowatt solar energy facility and the enhancement of security and reliability of Middlesex Water's critical water infrastructure in a post-9/11 2001 environment. Ronn has also made valuable contributions to the water industry in his role as a former environmental regulator and in various leadership positions in the American Water Works Association. "In his nearly 15 years with the company, Ronn has played a key leadership role in maintaining the reliability and integrity of operations that help ensure the delivery of a safe and plentiful drinking water supply to hundreds of thousands of central New Jersey residents," said Dennis Doll, Middlesex Water President & CEO. "We thank Ronn for his expertise and wish him good health and happiness in his retirement," added Doll.Effective January 1, 2010, Richard M. Risoldi will assume the role of Vice President Operations & Chief Operating Officer. Mr. Risoldi will assume overall responsibility for water and wastewater operations across the various Middlesex entities. Mr. Risoldi joined Middlesex Water Company...Click here to read the whole Article (external link)
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