Middlesex Water Appoints Tatyana Kaplan as Chief Accounting Officer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 26 2026
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Should l Buy MSEX?
Middlesex Water has announced that Tatyana Kaplan joined the company as VP and chief accounting officer, effective March 26. Kaplan was most recently the director of accounting for Veolia North America regulated utility business where she led the regulatory accounting and reporting across six different jurisdictions.
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Analyst Views on MSEX
Wall Street analysts forecast MSEX stock price to rise
2 Analyst Rating
1 Buy
0 Hold
1 Sell
Hold
Current: 51.860
Low
53.00
Averages
58.00
High
63.00
Current: 51.860
Low
53.00
Averages
58.00
High
63.00
About MSEX
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems primarily in New Jersey and Delaware. It also operates water and wastewater systems under contract on behalf of municipal and private clients, primarily in New Jersey and Delaware. It operates through two segments: Regulated and Non-Regulated. The Regulated segment is engaged in the business of collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey and Delaware and includes Middlesex, Tidewater, Pinelands Water and Southern Shores. The Non-Regulated segment primarily consists of non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware and includes USA, USA-PA, and White Marsh. Across its regulated utility systems, it serves approximately 128,000 customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Middlesex Water Company Appoints New CFO
- Executive Appointment: Middlesex Water Company announced that Tatyana Kaplan will serve as Vice President and Chief Accounting Officer effective March 26, 2026, bringing extensive expertise in utility accounting that will enhance the company's financial management and create ongoing value for customers and shareholders in a complex financial landscape.
- Industry Experience: Prior to joining Middlesex, Kaplan was the Director of Accounting for Veolia North America's regulated utility business, overseeing regulatory accounting and reporting across six jurisdictions, demonstrating her adaptability and leadership in diverse financial environments.
- Educational Credentials: Kaplan holds a Bachelor of Science in Finance and a Master of Science in Accounting from New York University's Leonard N. Stern School of Business, and is a Certified Public Accountant, equipping her with robust professional knowledge and industry-recognized qualifications to provide high-level financial guidance to the company.
- Management Transition: Additionally, Middlesex Water Company announced that Robert Capko will step down as Principal Accounting Officer but will remain with the company as Corporate Controller, ensuring financial stability and continuity during the transition period.
See More
Middlesex Water Board Member Purchases Shares
- Share Purchase: Robert N. Hoglund, a member of the Middlesex Water Company Board, purchased 2,000 shares on February 27, 2026, for approximately $109,000, indicating a bullish outlook on the company, with this transaction establishing a direct holding of 2,000 shares, representing a 0.01% ownership stake.
- Transaction Context: This marks only the second reported transaction by Hoglund, with a total of 2,000 shares purchased, suggesting limited trading activity historically, which aligns with his confidence in the company's stable growth trajectory.
- Company Performance: Middlesex Water Company reported revenues of $194.7 million for 2025, up from $191.9 million in 2024, primarily due to rate increases and customer growth, with expectations for continued revenue growth in 2026 following a recently approved rate hike.
- Investment Appeal: With a dividend yield exceeding 2%, Middlesex Water Company has attracted income-oriented investors, having paid dividends continuously since 1912; despite stock gains in 2026, shares remain below the 52-week high of $67.09 reached last April, presenting a favorable investment opportunity.
See More
Middlesex Water Director Acquires Shares
- Share Acquisition: Robert Hoglund, a director at Middlesex Water Company, purchased 2,000 shares on February 27, 2026, at an average price of $54.31 per share for a total consideration of approximately $109,000, indicating his bullish outlook on the company's future.
- Ownership Stake: Following this transaction, Hoglund holds a direct stake of 2,000 shares, representing 0.01% of the outstanding shares, reflecting his confidence in the stock, especially as it has risen nearly 10% in 2026.
- Revenue Growth: Middlesex Water reported operating revenue of $194.7 million for 2025, up from $191.9 million in 2024, driven by rate increases and customer growth, with expectations for continued revenue growth in 2026.
- Stable Dividend Policy: The company has maintained a consistent dividend payout since 1912, with a current yield exceeding 2%, appealing to income-oriented investors, despite the stock still being below its 52-week high of $67.09.
See More
Tidewater Utilities to Issue Customer Bill Credits from PFAS Lawsuit Settlement Funds
Customer Bill Credit Announcement: Tidewater Utilities has announced a customer bill credit as part of a settlement related to a litigation process.
PFAS Litigation: The credit is being issued in connection with legal proceedings concerning per- and polyfluoroalkyl substances (PFAS), which have raised environmental and health concerns.
See More
Middlesex Water Reports Q4 Earnings Results
- Earnings Highlights: Middlesex Water Company reported a GAAP EPS of $0.46 for Q4, demonstrating its ability to maintain stable profitability despite a slight year-over-year decline.
- Revenue Trends: The company's revenue for Q4 stood at $46.98 million, reflecting a 0.3% decrease year-over-year, indicating revenue growth challenges in a competitive utility market.
- Market Attractiveness: While there are more attractive investment options available, Middlesex Water is gradually improving its financial performance, showcasing its potential within the utility sector.
- Future Outlook: Anticipation for the Q4 2025 earnings report is rising among investors, which may influence stock price movements and market confidence in Middlesex Water.
See More
Middlesex Water Co Reports Decline in Q4 Earnings
- Earnings Decline: Middlesex Water Co reported a fourth-quarter profit of $8.59 million, translating to $0.46 per share, which is a decrease from last year's $8.78 million and $0.49 per share, indicating pressure on the company's profitability.
- Slight Revenue Drop: The company's revenue for the fourth quarter was $46.98 million, down 0.3% from $47.11 million last year, reflecting weakened market demand and intensified competition impacting revenue.
- Financial Performance Comparison: The decline in both earnings and revenue compared to last year suggests that Middlesex Water Co may need to reassess its operational strategies to address current challenges in the economic environment.
- Uncertain Future Outlook: The dual decline in earnings and revenue raises investor concerns about the company's future growth potential, which may affect its stock performance and market confidence.
See More
Middlesex Water Company Appoints New CFO
- Executive Appointment: Middlesex Water Company announced that Tatyana Kaplan will serve as Vice President and Chief Accounting Officer effective March 26, 2026, bringing extensive expertise in utility accounting that will enhance the company's financial management and create ongoing value for customers and shareholders in a complex financial landscape.
- Industry Experience: Prior to joining Middlesex, Kaplan was the Director of Accounting for Veolia North America's regulated utility business, overseeing regulatory accounting and reporting across six jurisdictions, demonstrating her adaptability and leadership in diverse financial environments.
- Educational Credentials: Kaplan holds a Bachelor of Science in Finance and a Master of Science in Accounting from New York University's Leonard N. Stern School of Business, and is a Certified Public Accountant, equipping her with robust professional knowledge and industry-recognized qualifications to provide high-level financial guidance to the company.
- Management Transition: Additionally, Middlesex Water Company announced that Robert Capko will step down as Principal Accounting Officer but will remain with the company as Corporate Controller, ensuring financial stability and continuity during the transition period.
See More
Middlesex Water Board Member Purchases Shares
- Share Purchase: Robert N. Hoglund, a member of the Middlesex Water Company Board, purchased 2,000 shares on February 27, 2026, for approximately $109,000, indicating a bullish outlook on the company, with this transaction establishing a direct holding of 2,000 shares, representing a 0.01% ownership stake.
- Transaction Context: This marks only the second reported transaction by Hoglund, with a total of 2,000 shares purchased, suggesting limited trading activity historically, which aligns with his confidence in the company's stable growth trajectory.
- Company Performance: Middlesex Water Company reported revenues of $194.7 million for 2025, up from $191.9 million in 2024, primarily due to rate increases and customer growth, with expectations for continued revenue growth in 2026 following a recently approved rate hike.
- Investment Appeal: With a dividend yield exceeding 2%, Middlesex Water Company has attracted income-oriented investors, having paid dividends continuously since 1912; despite stock gains in 2026, shares remain below the 52-week high of $67.09 reached last April, presenting a favorable investment opportunity.
See More
Middlesex Water Director Acquires Shares
- Share Acquisition: Robert Hoglund, a director at Middlesex Water Company, purchased 2,000 shares on February 27, 2026, at an average price of $54.31 per share for a total consideration of approximately $109,000, indicating his bullish outlook on the company's future.
- Ownership Stake: Following this transaction, Hoglund holds a direct stake of 2,000 shares, representing 0.01% of the outstanding shares, reflecting his confidence in the stock, especially as it has risen nearly 10% in 2026.
- Revenue Growth: Middlesex Water reported operating revenue of $194.7 million for 2025, up from $191.9 million in 2024, driven by rate increases and customer growth, with expectations for continued revenue growth in 2026.
- Stable Dividend Policy: The company has maintained a consistent dividend payout since 1912, with a current yield exceeding 2%, appealing to income-oriented investors, despite the stock still being below its 52-week high of $67.09.
See More
Tidewater Utilities to Issue Customer Bill Credits from PFAS Lawsuit Settlement Funds
Customer Bill Credit Announcement: Tidewater Utilities has announced a customer bill credit as part of a settlement related to a litigation process.
PFAS Litigation: The credit is being issued in connection with legal proceedings concerning per- and polyfluoroalkyl substances (PFAS), which have raised environmental and health concerns.
See More
Middlesex Water Reports Q4 Earnings Results
- Earnings Highlights: Middlesex Water Company reported a GAAP EPS of $0.46 for Q4, demonstrating its ability to maintain stable profitability despite a slight year-over-year decline.
- Revenue Trends: The company's revenue for Q4 stood at $46.98 million, reflecting a 0.3% decrease year-over-year, indicating revenue growth challenges in a competitive utility market.
- Market Attractiveness: While there are more attractive investment options available, Middlesex Water is gradually improving its financial performance, showcasing its potential within the utility sector.
- Future Outlook: Anticipation for the Q4 2025 earnings report is rising among investors, which may influence stock price movements and market confidence in Middlesex Water.
See More
Middlesex Water Co Reports Decline in Q4 Earnings
- Earnings Decline: Middlesex Water Co reported a fourth-quarter profit of $8.59 million, translating to $0.46 per share, which is a decrease from last year's $8.78 million and $0.49 per share, indicating pressure on the company's profitability.
- Slight Revenue Drop: The company's revenue for the fourth quarter was $46.98 million, down 0.3% from $47.11 million last year, reflecting weakened market demand and intensified competition impacting revenue.
- Financial Performance Comparison: The decline in both earnings and revenue compared to last year suggests that Middlesex Water Co may need to reassess its operational strategies to address current challenges in the economic environment.
- Uncertain Future Outlook: The dual decline in earnings and revenue raises investor concerns about the company's future growth potential, which may affect its stock performance and market confidence.
See More
