|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||67.11 - 68.13|
|52 Week Range||48.79 - 72.41|
|Beta (5Y Monthly)||0.23|
|PE Ratio (TTM)||32.17|
|Earnings Date||Oct 30, 2020 - Nov 03, 2020|
|Forward Dividend & Yield||1.02 (1.50%)|
|Ex-Dividend Date||Aug 13, 2020|
|1y Target Est||71.33|
Middlesex Water (MSEX) is set to invest $3.7 million to upgrade drinking water mains for providing high-quality services to customers in the Borough of Metuchen, NJ.
ISELIN, N.J., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) has announced that beginning September 8, it will begin a $3.7 million project to upgrade drinking water infrastructure in the northwest section of the Borough of Metuchen, New Jersey. Under its 2020 RENEW Program, Middlesex Water Company intends to replace 3.3 miles or (17,500 linear feet) of water mains, as well as service lines, valves and fire hydrants to help enhance overall service quality and improve fire flows. Middlesex Water is coordinating its utility work schedule and road openings with the gas company working in the area so work can be done all at once avoiding subsequent disruptions to customers and area residents. Streets affected by the Middlesex Water RENEW project are expected to include:Street Between Main Street Plainfield Avenue and Durham Avenue Durham Avenue Main Street and Martin Street Central Avenue Forrest Street and Maple Avenue Elm Court Main Street and terminus Talmadge Avenue Main Street and Center Street Maple Avenue Main Street and Central Avenue W. Chestnut Avenue Main Street and Central Avenue Midland Avenue Main Street and Central Avenue Columbia Avenue Plainfield Avenue and W. Chestnut Avenue Harvard Avenue Plainfield Avenue and W. Chestnut Avenue University Avenue Plainfield Avenue and W. Chestnut Avenue Princeton Street University Avenue and terminus Rutgers Street University Avenue and Central Avenue Center Street Midland Avenue and Durham Avenue Martin Street W. Chestnut Avenue and Durham Avenue As part of the RENEW Program, Middlesex Water will also be installing exterior meter pits at each customer’s premise. To ensure the continued safety of our customers and our crews, no access to a customer home will be required during this project and work teams will observe social distancing guidelines.RENEW is part of Middlesex Water’s overall Water for Tomorrow® Program, a multi-million infrastructure investment initiative which consists of various projects designed to replace aging infrastructure and strengthen the Company’s water distribution system for continued service reliability, resiliency and water quality. As part of these upgrades, temporary disruptions of service will be necessary for tie-ins and connection of the new infrastructure to the existing system. Customers can expect to be without water service for periods of time ranging from 2-8 hours depending on the nature of the work, and will be notified via phone message and door hanger in advance of the service interruption on their street.Middlesex Water will always strive to reduce the project impact on residents. The project is expected to take four months with all affected roadways restored in the spring of 2021.Project work areas, Frequently Asked Questions and Contact Information can be found at www.waterfortomorrowmwc.com/renew or by calling Middlesex Water at 800-549-3802. Middlesex Water is obtaining funding for the project from the New Jersey Economic Development Authority. The Company determines which water mains are to be replaced based on historical record and asset management records. These records include the size and composition of the existing pipe, the date the pipe was installed and other relevant operational data.About Middlesex Water Company Established in 1897, Middlesex Water Company (NASDAQ:MSEX) serves as a trusted provider offering life-sustaining high quality water service for residential, commercial, industrial and fire protection purposes. The Company offers a full range of water, wastewater utility and related services. An investor-owned public utility, Middlesex Water is a professional services provider specializing in municipal and industrial contract operations and water and wastewater system technical operations and maintenance. The company and its subsidiaries form the Middlesex Water family of companies, which collectively serve a population of nearly half a million people in New Jersey and Delaware. Named a 2020 Top Workplace in New Jersey, Middlesex is focused on meeting the needs of our employees, customers, and shareholders. We invest in our people, our infrastructure and the communities we serve to support reliable and resilient utility services, economic growth and quality of life. To learn more about Middlesex Water, visit www.middlesexwater.com. Please follow us on Facebook, Twitter and LinkedIn.Media Contact: Bernadette Sohler, Vice President – Corporate Affairs Middlesex Water Company 485C Route 1 South Iselin, NJ 08830 (732) 638-7549 email@example.com
Middlesex Water (MSEX) delivered earnings and revenue surprises of 7.84% and 0.79%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?