BofA initiated coverage on MSEX with an Underperform rating. MSEX trades at a 47% premium to utilities, raising concerns. Projected EPS growth for MSEX is below peer average. Analyst sees limited upside amid regulatory risks and capital needs. Customer growth may slow, risking revenue and future estimates.
- Middlesex Water reported earnings of $0.59 per share, beating estimates by 31.11%. - Revenues for the company in the quarter ended March 2024 were $40.52 million. - Middlesex Water shares have lost about 17% year-to-date compared to the market. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings