Capital InvestmentThe company plans to invest significantly more in capital projects than previously estimated, marking the largest investment over a three-year period in its history.
EarningsMiddlesex Water Company has been upgraded to Outperform due to strong Q4 results that exceeded estimates for all key metrics.
ValuationMiddlesex Water is trading near its lowest NTM P/E level in the last decade, representing a ~30% discount to its five-year average, making its valuation particularly attractive.