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American Water Works Company (AWK) Stock News, Mar 2-18, 2021

AWK NYSE

American Water Works Company, Inc. reports developments tied to its regulated water and wastewater utility operations across the United States. The company provides drinking water and wastewater services to about 14 million people through regulated operations in 14 states and on 18 military installations, with operating subsidiaries including California American Water, Pennsylvania American Water, Maryland American Water, Virginia American Water, Illinois American Water, Iowa American Water and Tennessee American Water.

News for AWK commonly covers annual water quality and Consumer Confidence Reports, state-level service updates, infrastructure investment, public utility rate proceedings, drinking water standards, community programs and subsidiary activity in local service territories. Updates also reference the company’s long operating history and its role in regulated water and wastewater service delivery.

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Illinois American Water is allocating approximately $3 million for the replacement of over 14,600 feet (2.8 miles) of water main in Pekin. This initiative aims to enhance water pressure for homes and fire hydrants, while also preventing water loss from leaks. Superintendent Kyle Smith emphasized the need to address aging infrastructure and ensure reliable water service for future generations. Affected customers will receive notifications about the projects and can access continuous updates through the company's portals.

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Illinois American Water is investing over $10 million to enhance the Peoria area water system. The project includes the construction of a new booster station with backup power, a 150,000-gallon elevated storage tank, and the replacement of over 23,000 feet of water main. Key improvements aim to increase efficiency, support water flow, and ensure better water quality. Construction is set to begin this spring, aiming to reduce customer disruptions while upgrading infrastructure for improved service.

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American Water (AWK) has donated approximately $400,000 in lab equipment to the WATER Institute at Saint Louis University. The LC-QTOF lab equipment will enhance research capabilities in water quality solutions. American Water aims to support educational initiatives and strengthen partnerships in addressing water-related challenges. The WATER Institute focuses on innovation and social justice issues regarding water access and quality, improving infrastructure, and protecting ecosystems. This collaboration exemplifies American Water's ongoing commitment to community engagement.

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According to a recent survey by Opinium for Pennsylvania American Water, over two-thirds of Americans have faced home leaks. This coincides with Fix a Leak Week (March 15-21, 2021), emphasizing the need for water conservation, especially as water usage surged during the COVID-19 pandemic. The survey revealed that 52% of respondents experienced bathroom leaks and 50% in kitchens. Approximately 77% noted signs of possible leaks. Pennsylvania American Water aims to enhance water conservation awareness and plans to invest $22 to $25 billion over the next decade in infrastructure improvements.

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The American Society of Civil Engineers' latest Report Card highlights the critical state of U.S. drinking water (C-) and wastewater (D+) systems, urging immediate action for upgrades. In response, New Jersey American Water invested over $464 million in 2020, focusing on replacing aging pipes and enhancing treatment facilities. The company anticipates investing $350 million in 2021, emphasizing the importance of robust water infrastructure. This investment aligns with their START initiative aimed at improving services and fostering workforce diversity.

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Illinois American Water is investing approximately $750,000 to upgrade wastewater infrastructure in Godfrey, focusing on replacing sections of a 24-inch wastewater effluent main. The project includes measures to protect the existing wastewater force main and the La Vista Creek watershed. Environmental enhancements such as natural limestone installation and native plantings will also be implemented. The upgrades are aligned with Illinois American Water's commitment to reliable service and environmental protection. Construction is expected to be completed by summer 2022.

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Missouri American Water is investing $1.3 million to replace 3,100 feet of aging water main on Big Bend Boulevard in Webster Groves. This project aims to enhance reliability and fire flow capacity. The Big Bend project is part of a broader $15 million investment plan through 2023, including additional replacements on S. Rock Hill Rd, Atalanta Ave, and E. Lockwood Ave. Customers may experience temporary service interruptions during the project, which will be conducted Monday through Friday from 7 a.m. to 4 p.m.

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New Jersey American Water will initiate the annual cleaning of its water distribution system starting March 15, enhancing water quality for approximately 2.8 million customers. The flushing process aims to remove mineral deposits and confirm the operational status of fire hydrants. Customers may experience temporary low water pressure or discoloration during the process. Recommendations include pre-storing water, checking for discoloration before use, and accessing flushing schedules online. New Jersey American Water is a subsidiary of American Water (NYSE: AWK), serving millions with reliable water services.

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FAQ

What is the current stock price of American Water Works (AWK)?

American Water Works (AWK) last closed at $150.29.

What is the market cap of American Water Works (AWK)?

The market cap of American Water Works (AWK) is approximately $29.9B.