Stock fact sheet · data as of
Middlesex Water Company PFD 7% (MSEXP): fair value, margin of safety and Wheel Score
Utilities · Regulated Water · United States · Defensive
Is MSEXP undervalued?
Middlesex Water Company PFD 7% (MSEXP) closed at 492.00 on 16 Oct 2026, 225% above the GLS average fair value of 151.21. 7 of the 8 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
There is a wide gap between Payback Time (15.47) and Graham Growth (541.96). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files MSEXP under Defensive: a low beta, a dividend and positive earnings.
Nine valuation models for MSEXP
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 40.13 | -92% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 541.96 | +10% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 177.74 | -64% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 71.31 | -86% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 82.00 | -83% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 15.47 | -97% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 21.19 | -96% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 259.86 | -47% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -495.74 | -201% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Middlesex Water Company PFD 7% scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 4.4/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 4.7%, ROE 8.6%, ROA 3.1% - with debt at 0.84 times equity and a free-cash-flow yield of 1.5%.
The dividend yield is 2.67% at a payout ratio of 55%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Residential 71%, Commercial 20%, Industrial 9% (quarter Q2 FY2025).
Institutional ownership scores 5/10, insider activity 8/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 4.7% |
|---|---|---|---|
| GLS Moat | 4.4 / 10 | ROE | 8.6% |
| Debt / equity | 0.84 | ROA | 3.1% |
| Free-cash-flow yield | 1.5% | Payout ratio | 55% |
| Institutions | 5 / 10 | Insiders · Congress | 8 · 5 / 10 |
Wheel Score 28: No options
No options are listed on Middlesex Water Company PFD 7% in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 28) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 0k shares a day on a market cap of $822M, with a beta of 0.51 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 8 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -225% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 7 / 15 | moat 4.4/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 8 / 20 | 0k shares/day, $822M cap, beta 0.51 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Middlesex Water Company PFD 7% reports earnings on 23 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Regulated Water
The 12 companies below are the closest to Middlesex Water Company PFD 7% by market cap within the Regulated Water industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| MSEX Middlesex Water Company | 53.91 | 28.46 | -89% | 47Weak | $1.0B |
| YORW The York Water Company | 31.07 | 16.60 | -87% | 49Weak | $504M |
| CWCO Consolidated Water Co. Ltd. | 28.76 | 37.63 | +24% | 69Good | $461M |
| ARTNB Artesian Resources Corporation | 34.01 | 26.54 | -28% | 25No options | $349M |
| ARTNA Artesian Resources Corporation | 33.16 | 26.17 | -27% | 26No options | $342M |
| CDZI Cadiz Inc. | 3.81 | - | - | 35Weak | $323M |
| CDZIP Cadiz Inc. | 19.60 | - | - | 24No options | $298M |
| HTO H2O America | 57.30 | 39.94 | -43% | 54Fair | $2.4B |
| PCYO Pure Cycle Corporation | 11.19 | 7.42 | -51% | 42Weak | $270M |
| CWT California Water Service Group | 46.05 | 24.67 | -87% | 53Fair | $2.8B |
| GWRS Global Water Resources, Inc. | 8.09 | 3.26 | -148% | 42Weak | $233M |
| AWR American States Water Company | 82.74 | 45.00 | -84% | 51Fair | $3.3B |
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Start free See the Sunday ScanQuestions about MSEXP
Is MSEXP undervalued right now?
No: at 492.00 the stock trades 225% above the GLS average fair value of 151.21 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of MSEXP and what does it mean?
MSEXP has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for MSEXP?
151.21 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Middlesex Water Company PFD 7% report earnings next?
The next earnings report is due on 23 Oct 2026 (after the close), 7 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does MSEXP have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on MSEXP, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.