Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Full Access

See Pricing Start Trial

Middlesex Water Company (MSEX)

Company Dividend Discount ModelIndustry: Regulated WaterSector: Utilities

Valuation Snapshot

Stable Growth$53.68 - $135.57$80.83
Multi-Stage$39.53 - $43.12$41.29
Blended Fair Value$61.06
Current Price$54.12
Upside12.83%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.69%6.71%1.301.251.161.081.010.900.830.780.730.70
YoY Growth--4.31%7.84%7.42%6.57%12.45%8.27%6.63%6.58%4.65%2.63%
Dividend Yield--2.03%2.43%1.48%1.02%1.28%1.49%1.51%2.12%1.97%2.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)43.02
(-) Cash Dividends Paid (M)24.39
(=) Cash Retained (M)18.63
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8.605.383.23
Cash Retained (M)18.6318.6318.63
(-) Cash Required (M)-8.60-5.38-3.23
(=) Excess Retained (M)10.0313.2515.40
(/) Shares Outstanding (M)18.0118.0118.01
(=) Excess Retained per Share0.560.740.86
LTM Dividend per Share1.351.351.35
(+) Excess Retained per Share0.560.740.86
(=) Adjusted Dividend1.912.092.21
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.35%6.35%7.35%
Fair Value$53.68$80.83$135.57
Upside / Downside-0.81%49.36%150.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)43.0245.7548.6551.7455.0358.5260.28
Payout Ratio56.69%63.35%70.02%76.68%83.34%90.00%92.50%
Projected Dividends (M)24.3928.9834.0739.6845.8652.6755.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.35%6.35%7.35%
Year 1 PV (M)26.3226.5726.82
Year 2 PV (M)28.0928.6229.16
Year 3 PV (M)29.7030.5531.42
Year 4 PV (M)31.1732.3733.61
Year 5 PV (M)32.5134.0835.71
PV of Terminal Value (M)564.31591.60619.94
Equity Value (M)712.09743.80776.67
Shares Outstanding (M)18.0118.0118.01
Fair Value$39.53$41.29$43.12
Upside / Downside-26.96%-23.70%-20.33%

High-Yield Dividend Screener

« Prev Page 17 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SAHSonic Automotive, Inc.2.13%$1.3135.28%
AIG-PAAmerican International Group, Inc.2.12%$1.6930.01%
LANCLancaster Colony Corporation2.11%$3.8261.80%
TDACTranslational Development Acquisition Corp.2.10%$0.2279.86%
FASTFastenal Company2.09%$0.8579.50%
FDUSFidus Investment Corporation2.09%$0.4117.86%
IBOCInternational Bancshares Corporation2.09%$1.4020.70%
SMRSXALPS/Smith Short Duration Bond Investor2.09%$0.2298.81%
SSSSSuRo Capital Corp.2.09%$0.208.46%
MLRMiller Industries, Inc.2.08%$0.7830.00%
OACCOaktree Acquisition Corp. III Life Sciences2.08%$0.2261.74%
FCCOFirst Community Corporation2.07%$0.6025.08%
GNTXGentex Corporation2.07%$0.4928.42%
OACCUOaktree Acquisition Corp. III Life Sciences Unit2.07%$0.2261.74%
DLBDolby Laboratories, Inc.2.06%$1.3149.64%
APOGApogee Enterprises, Inc.2.05%$0.7737.24%
CAKEThe Cheesecake Factory Incorporated2.05%$1.0832.74%
EWBCEast West Bancorp, Inc.2.05%$2.3625.97%
ALFCenturion Acquisition Corp.2.04%$0.2251.38%
ATOAtmos Energy Corporation2.04%$3.4546.19%
OVLYOak Valley Bancorp2.04%$0.6129.73%
0HYE.LCincinnati Financial Corporation2.03%$3.2824.36%
AOSA. O. Smith Corporation2.03%$1.3936.68%
ACTEnact Holdings, Inc.2.02%$0.8018.03%
ARKOArko Corp.2.02%$0.0955.86%
KFYKorn Ferry2.02%$1.3426.97%
0H68.LAflac Incorporated2.01%$2.2028.14%
LENLennar Corporation2.01%$2.1025.46%
AVYAvery Dennison Corporation2.00%$3.6641.17%
RHLDResolute Holdings Management, Inc.2.00%$3.7422.61%
ALFUUCenturion Acquisition Corp. Unit1.99%$0.2251.38%
GNTYGuaranty Bancshares, Inc.1.99%$0.9730.69%
NCNACCO Industries, Inc.1.99%$0.9524.54%
QCOMQUALCOMM Incorporated1.99%$3.4468.67%
THGThe Hanover Insurance Group, Inc.1.98%$3.5520.46%
CNMDCONMED Corporation1.97%$0.8038.60%
FBINFortune Brands Innovations, Inc.1.97%$1.0036.69%
FEIMFrequency Electronics, Inc.1.97%$1.0046.25%
RPMRPM International Inc.1.97%$2.0437.93%
BNJBrookfield Finance Inc. 4.50% P1.96%$0.3070.51%
MTGMGIC Investment Corporation1.96%$0.5717.51%
CCSCentury Communities, Inc.1.95%$1.1516.06%
0K6F.LNetApp, Inc.1.94%$2.0735.51%
BLKBlackRock, Inc.1.94%$21.0053.94%
FNB-PEF.N.B. Corporation1.94%$0.4834.55%
0L4F.LSealed Air Corporation1.93%$0.8030.13%
AEOAmerican Eagle Outfitters, Inc.1.93%$0.5142.14%
SLGNSilgan Holdings Inc.1.93%$0.8026.98%
FSFGFirst Savings Financial Group, Inc.1.92%$0.6123.93%
GENGen Digital Inc.1.92%$0.5054.91%