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American Water Works Company (AWK) Stock News, Jan-Feb 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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California American Water allocated over $3 million to support community organizations and customers amidst the pandemic's economic challenges in 2020. The company donated more than $400,000 directly to local nonprofits and contributed over $19,000 for sustainable initiatives. Additionally, it provided $2.6 million to customers through its Customer Assistance Program, with a 30% increase in enrollment. The company also suspended all non-payment shutoffs and ceased collection efforts, reinstating services to previously shutoff customers.

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Pennsylvania American Water has launched its 2021 Stream of Learning Scholarship Program, offering $1,000 scholarships to 10 high school seniors pursuing careers in the water and wastewater industry. To qualify, applicants must reside in a Pennsylvania American Water service area, plan to attend a college or technical school, and study fields like engineering, environmental science, or chemistry. Applications are due by April 2, 2021, with winners announced in May.

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Illinois American Water has invested around $1.1 million in upgrades to the City of Rosiclare's water and wastewater systems within the first eight months of acquisition. This is part of a larger $5 million investment plan for the next five years. Key improvements include upgraded security, new technologies to enhance reliability, and installation of backup generators to ensure continuous service during power outages. The company prioritizes employee safety and water quality, exceeding EPA standards, and aims to provide the best services to its customers.

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American Water (NYSE: AWK) has opened applications for its 2021 Environmental Grant Program, aimed at funding community-based environmental projects across 10 states, including Illinois, Indiana, and New Jersey. This program, established in 2005, has previously funded 42 projects in a single year, totaling about $141,000. Cheryl Norton, Chief Environmental Officer, emphasized the company's commitment to minimizing environmental impact while providing essential water services. Applications must be submitted by March 31, 2021.

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American Water (NYSE: AWK), the leading publicly-traded U.S. water and wastewater utility, will hold a virtual Investor Day on February 25, 2021, at 9:00 a.m. EST. The event includes presentations by key executives on 2020 results, 2021 earnings guidance, long-term growth targets, and capital investment plans. A Q&A session will follow. Interested parties can access the webcast via the company’s investor relations website. An archived version will be available for one year post-event. American Water serves over 14 million customers in 46 states, ensuring safe and reliable water services.

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Missouri American Water has completed a new $11 million clear well, capable of storing one million gallons of drinking water, alongside a high-service pump station to enhance water delivery efficiency. The original clear well, dating back to 1888, suffered from leaks and was due for replacement. These improvements will support system pressure, especially during peak summer usage, and aid local emergency services. This project involved a 15-month collaboration with Goodwin Brothers Construction and local firms, ensuring future water reliability for approximately 1.5 million customers.

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Illinois American Water has launched its 2021 Environmental Grant Program, providing up to $10,000 for community-driven environmental projects. Over the past decade, the program has allocated more than $247,000 to 74 initiatives aimed at protecting water resources. Projects must take place in service areas and adhere to specific criteria, such as addressing watershed needs and demonstrating sustainability. In 2020, grants totaling over $25,000 were awarded to eight projects including watershed cleanups and educational initiatives. Applications are open until March 29, 2021.

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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.