MSEX
Market read
No new filing conclusion is available. 6 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
Invalidation: The live read weakens if participation falls to 4 of 12 members or fewer.
Research brief
No new filing conclusion is available. 6 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“The increase in cash flows provided by financing activities is due to higher long-term and short-term debt borrowings and the proceeds from the issuance of common stock under Middlesex’s At-the-Market (ATM) equity offering program (for further information on…”10-Q · Apr 30, 2026 ↗
“These regulatory liabilities are largely related to utility plant depreciation deduction timing differences, which are subject to Internal Revenue Service (IRS) normalization rules.”10-K · Feb 19, 2026 ↗
“The increase in cash flows provided by financing activities is due to higher long-term and short-term debt borrowings and the proceeds from the issuance of common stock under Middlesex’s At-the-Market (ATM) equity offering program (for further information on…”10-Q · Apr 30, 2026 ↗
“Operations and Maintenance Expense Operations and Maintenance Expense for the three months ended June 30, 2025 increased $1.2 million from the same period in 2024 due to higher production costs from lower weather-driven water quality, increased weather-driven…”10-Q · Jul 31, 2025 ↗
Valuation discipline
Price/sales 5.3× · EV/sales 7.2×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:50 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for MSEX. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
Jodie has not yet found a suitable current-versus-prior filing comparison for MSEX. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“The Middlesex System’s retail customers are located in an area of approximately 55 square miles in Woodbridge Township, the City of South Amboy, the Boroughs of Metuchen and Carteret, portions of the Township of Edison and the Borough of South Plainfield, all…”
“The Company plans to invest approximately $93 million in 2025 in connection with this plan for projects that include, but are not limited to: · Replacement of 19,550 linear feet of cast iron main in Woodbridge Township in our Middlesex System; · Construction…”
Depended on by
“In May 2022, Middlesex Water Company filed a third-party complaint against the Company in New Jersey state court in a putative class action brought by customers of the water company, seeking contribution and indemnity from the Company.”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
MSEX is currently a Participant in the organic co-movement group Regulated Water Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.