MSEX - Middlesex Water: The 47-Year Dividend Aristocrat Offers Low Volatility But Limited Returns

• Water companies tend to generate very stable cash flows that face little to no correlation to the overall economy's events.
• Taking advantage of its predictable profitability, management has been able to adequately reward investors over the long-term, increasing its distributions annually for the past 47 years.
• However, the stock's premium valuation and tiny yield offer a limited return potential, which is unlikely to generate the double-digit returns we are usually looking for.

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