The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Middlesex Water (MSEX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Middlesex Water is a member of our Utilities group, which includes 104 different companies and currently sits at #6 in the Zacks Sector R ...

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Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yie ...

Group 1 - Middlesex Water (MSEX) is currently outperforming its peers in the Utilities sector, with a year-to-date return of approximately 13.1% compared to the sector average of 2.8% [4] - The Zacks Rank for Middlesex Water is 2 (Buy), indicating a positive earnings outlook and improving analyst sentiment, as the consensus estimate for full-year earnings has increased by 1.3% over the past 90 days [3][4] - Middlesex Water belongs to the Utility - Water Supply industry, which has gained an average of 9.3% this year, further highlighting its strong performance within its specific industry [6] Group 2 - NiSource (NI) is another stock in the Utilities sector that has shown solid performance, with a year-to-date return of 8.2% and a Zacks Rank of 2 (Buy) [5] - The consensus EPS estimate for NiSource has increased by 2.7% over the past three months, indicating a positive trend in earnings expectations [5] - NiSource operates in the Utility - Electric Power industry, which has seen a gain of 3.3% this year, ranking 88 among 60 stocks in that industry [6]

Investors in New Jersey water utility stock Middlesex Water (MSEX 14.66%) woke up to some dramatically good news on Monday morning: a 12.8% gain in share price (through 10:25 a.m. ET) after earnings came out over the weekend.As The Fly reports, Middlesex reported its Q4 earnings after trading already closed for the day Friday, meaning today is the first chance investors have to trade on the news. And they're wasting no time doing just that: Middlesex was expected to earn only $0.37 per share for the quarter ...

Core Insights - Middlesex Water Company reported a strong financial performance for 2024, with net income of $44.4 million and diluted EPS of $2.47, marking significant growth from $31.5 million and $1.76 in 2023 [1][10] Financial Performance - The net income for 2024 increased by $12.8 million compared to 2023, driven by a base rate increase, one-time recovery of costs, and increased customer demand due to weather [3] - Revenues for 2024 reached $191.9 million, up $25.6 million from $166.3 million in 2023, with the Middlesex System contributing $19.9 million to this increase [4] - Operating expenses rose to $92.4 million in 2024, an increase of $9.3 million from $83.1 million in 2023, primarily due to higher legal, labor, and energy costs [5] Quarterly Results - For the fourth quarter of 2024, net income was $8.8 million with diluted EPS of $0.49, compared to $5.8 million and $0.32 in the same quarter of 2023 [6] Infrastructure Investments - In 2024, the company invested $75 million in upgrading and enhancing its water and wastewater utility infrastructure [7] - Planned infrastructure investments for 2025 are approximately $93 million, with a total of $387 million expected from 2025 to 2027, including $105 million for PFAS treatment [8] Dividend Information - The Board of Directors declared a first quarter cash dividend of $0.34 per common share, continuing a history of cash dividends since 1912 and increasing dividends for 52 consecutive years [12] Company Overview - Middlesex Water Company is a leading investor-owned water and wastewater utility, serving over half a million people in New Jersey and Delaware, focusing on operational excellence and sustainable growth [13]

Capital Investment and Projects - Middlesex Water Company plans to invest approximately $93 million in 2025 for capital projects, including the replacement of 19,550 linear feet of cast iron main and construction of new elevated water tanks in Delaware [181]. - The Company has projected to spend approximately $387 million for the 2025-2027 capital investment program, including $105 million for upgrading the Carl J. Olson Surface Water Treatment Plant to integrate PFAS removal [194]. - Tidewater's acquisition of the water utility assets of Ocean View, Delaware for $4.6 million is expected to close by April 2025, serving approximately 900 customers [177]. - Middlesex has received approval to borrow up to $300.0 million from the New Jersey SRF Program through December 31, 2025, to fund its multi-year capital construction program [229]. - Tidewater closed on a $2.2 million Delaware SRF loan at a 0.0% interest rate, with an expected maturity date in 2044, for costs associated with identifying lead service lines [230]. - Tidewater has two active construction projects funded by Delaware SRF loans totaling $8.3 million, with $4.9 million drawn down as of December 31, 2024 [232]. Revenue and Income - The approved settlement of the Middlesex 2023 base rate case is expected to increase annual operating revenues by $15.4 million, effective March 1, 2024, based on an authorized return on common equity of 9.6% [183]. - Tidewater's application for a general rate increase seeks an overall increase in annual operating revenue of $10.3 million or 25.66% over current revenue, to recover investments made in the last ten years [190]. - Operating revenues for 2024 increased by $25.6 million to $191.9 million compared to 2023, driven by higher customer demand and rate increases [198]. - Operating income rose to $53.2 million in 2024, up from $39.2 million in 2023, reflecting a 35.7% increase [197]. - Net income for 2024 was $44.4 million, a significant increase of 40.8% from $31.6 million in 2023 [197]. Expenses and Costs - Operations and maintenance expenses increased by $9.2 million to $92.4 million in 2024, primarily due to higher labor and energy costs [198]. - Interest expense rose by $0.9 million to $14.0 million in 2024, attributed to higher average debt and interest rates [204]. - Other taxes increased by $3.1 million to $21.9 million in 2024, primarily due to higher gross receipts and payroll-related taxes [200]. - Other income, net increased by $5.6 million to $12.1 million in 2024, mainly due to recovery of costs related to PFAS treatment upgrades [203]. Customer Growth and Market Conditions - Organic residential customer growth in the Tidewater system is approximately 3.5% in 2024, contributing to the overall growth strategy [193]. - The Regulated segment contributed approximately 93% of total revenues for the years ended December 31, 2024, 2023, and 2022, indicating a stable revenue stream from regulated operations [195]. Financial Position and Risk Management - The company has $140 million in available lines of credit, with $23.0 million outstanding at a weighted average interest rate of 5.63% [226]. - The weighted average daily borrowings outstanding under credit lines were $38.7 million and $35.7 million at interest rates of 6.33% and 6.13% for the years ended December 31, 2024 and 2023, respectively [227]. - The total known contractual obligations as of December 31, 2024, amount to $724 million, with $359 million in long-term debt and $247 million in interest on long-term debt [245]. - The Company manages interest rate risk through fixed-rate long-term debt and has approximately $7.7 million of long-term debt instruments maturing in the next twelve months [261]. - The company has reduced risks associated with commodity price increases through contractual arrangements and the ability to recover price increases through rates [262]. - Credit risk exposure is present in both Regulated and Non-Regulated business segments, with a focus on customer default on contractual obligations [263]. - The credit portfolio is diversified with no significant customer or industry concentrations, and credit risk is managed through established credit and collection policies [263]. - The company's retirement benefit plan assets are exposed to market price variations, impacting retirement benefit plan expense and funded status [264]. - There were no material changes to primary market risk exposures in 2024, nor are any expected in the future [264]. Retirement and Benefits - The Company contributed $3.7 million to its retirement benefit plans in 2024 and expects to contribute approximately $1.8 million in 2025 [246]. - The discount rate for the Pension Plan is 5.47% and for the Other Benefits Plan is 5.49% as of December 31, 2024 [257]. - The Company raised approximately $1.0 million through the issuance of shares under the Investment Plan during 2024 [240].

Exhibit 99.1 Middlesex Water Company Reports 2024 Financial Results ISELIN, N.J., February 28, 2025 -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ: MSEX) today announced financial results for the fourth quarter and year end 2024. Middlesex reported net income of $44.4 million and diluted EPS of $2.47 for 2024, compared to net income of $31.5 million and diluted EPS of $1.76 in 2023. "Our strong 2024 performance underscores the strength of our growth strategy, the dedication of our team me ...

Core Insights - Middlesex Water Company has appointed Brian Hague as Vice President of Communications and Corporate Affairs to enhance internal and external communications, crisis management, government affairs, and community outreach [1][2][3] Company Overview - Middlesex Water Company, established in 1897, provides high-quality water services for residential, commercial, industrial, and fire protection purposes [3] - The company serves a population of approximately 500,000 people in New Jersey and Delaware through its subsidiaries [3] - Middlesex Water Company is committed to investing in its employees, infrastructure, and communities to support reliable utility services and economic growth [3] Leadership Appointment - Brian Hague brings over 20 years of communications experience from both public and private sectors, having held senior leadership roles in government and public relations [2] - His most recent role was Director of Government Affairs and Communications for the American Dream entertainment and retail destination in northern New Jersey [2] - The President and CEO of Middlesex Water Company, Nadine Leslie, expressed enthusiasm about Hague's appointment, highlighting his reputation and expected contributions to community engagement and brand enhancement [3]

Core Insights - Middlesex Water Company has appointed Brian Hague as Vice President of Communications and Corporate Affairs, focusing on internal and external communications, crisis management, government affairs, and community outreach [1][3]. Company Overview - Established in 1897, Middlesex Water Company provides high-quality water services for residential, commercial, industrial, and fire protection purposes, serving a population of half a million in New Jersey and Delaware [3]. Leadership Background - Brian Hague brings over 20 years of communications experience from both public and private sectors, having held senior leadership roles in government and public relations firms [2]. His most recent position was Director of Government Affairs and Communications for the American Dream entertainment and retail destination [2]. Strategic Importance - The company views Hague's appointment as a significant asset for strengthening relationships with elected officials and community stakeholders, enhancing the company's brand and community engagement efforts [3].