Welcome to our dedicated page for American Wtr Wks Co news (Ticker: AWK), a resource for investors and traders seeking the latest updates and insights on American Wtr Wks Co stock.
American Water Works Company Inc (AWK), the largest investor-owned U.S. water utility since 1886, provides essential water services through regulated operations and military contracts. This page aggregates official news and regulatory developments impacting this infrastructure leader.
Investors and stakeholders will find timely updates on earnings announcements, rate case decisions, and infrastructure investments. Our curated feed includes press releases about service expansions, environmental compliance milestones, and operational updates from AWK's 16-state footprint.
Key content focuses on regulatory filings with state commissions, capital improvement plans, and water quality initiatives. Track developments in AWK's military housing contracts and technological advancements in leak detection systems.
Bookmark this page for structured access to SEC filings, dividend declarations, and sustainability reports. Check regularly for analysis of how rate base growth and infrastructure renewal cycles impact this essential service provider.
Pennsylvania American Water (PAW) and Towamencin Township have decided to terminate the sale of the township's wastewater system. This decision comes after the Pennsylvania Public Utility Commission (PUC) finalized new criteria for reviewing such sales on July 2, 2024. The original asset purchase agreement (APA), initially between Towamencin and NextEra Water, then transferred to PAW, is substantially different from the PUC's new criteria.
PAW President Justin Ladner expressed gratitude for the partnership but acknowledged that the original deal structure is unlikely to meet the new PUC approval criteria. Despite this setback, PAW continues to pursue other opportunities, including seeking PUC approval for the acquisition of the Elizabeth Borough Municipal Authority's wastewater system in Allegheny County next month.
California American Water has partnered with Paired Power to install PairTree, a solar microgrid system for charging electric vehicles at its San Diego District. This innovative solution combines solar power, grid power, and battery storage to provide resilient and renewable energy for the company's EVs. The PairTree system offers several benefits:
1. Reduces carbon footprint and long-term costs
2. Provides emergency backup power during grid outages
3. Decreases dependence on the grid
4. Supports California's emission reduction goals
5. Improves local air quality, health, and safety
By using PairTree to charge one vehicle, California American Water will prevent approximately 4,472 pounds of CO2 emissions annually. This partnership aligns with the company's commitment to environmental stewardship and disaster preparedness.
Paired Power, a leading U.S. solar microgrid manufacturer, has partnered with California American Water to install its PairTree™ solar EV charger in San Diego, California. This collaboration aims to provide resilient EV charging without solely relying on the grid, supporting disaster-preparedness and California's emission reduction goals.
PairTree™ is a U.S.-made solar canopy that combines solar power with grid power and battery storage, offering day and night charging for electric vehicles. It can also provide emergency backup power during grid outages. The installation is expected to prevent 4,472 pounds of CO2 emissions annually per vehicle charged.
This partnership reflects California American Water's commitment to reducing its carbon footprint, improving air quality, and enhancing public health and safety for the 750,000 Californians it serves.
InspIR Group, a leading cross-border strategic investor relations and Sustainability consultancy, has announced the appointment of Ed Vallejo as Managing Director, effective September 16, 2024. Vallejo brings over two decades of experience as a senior financial and operational executive, with expertise in financial strategy, planning, modeling, and Sustainability.
Vallejo's notable career includes a 15-year tenure at American Water Works (NYSE: AWK), where he launched the company's investor relations function and pioneered integrated IR and ESG reporting. He also led American Water's IPO on the NYSE and consistently ranked first or second in the All-American Executive Team for Utilities and ESG. Most recently, Vallejo served as Vice President of Investor Relations at Bloom Energy (NYSE: BE).
This appointment aims to strengthen InspIR's senior advisory capability in the U.S. and emerging markets, leveraging Vallejo's extensive experience in critical issues facing clients today.
Illinois American Water has completed the installation of a sodium permanganate chemical feed system at its water treatment plant in the Village of Hardin. This system aims to address long-standing aesthetic issues in the community's water supply by removing natural iron and manganese from the groundwater. Early indications show noticeable improvements in water discoloration. The project included installing a prefabricated building for chemical storage and adding feed and control equipment. While this is a positive step, Rachel Bretz, Director of Water Quality & Compliance, notes that additional time and steps are needed to fully address the issue. The company has also been upgrading fire hydrants in Hardin, with about 25% of all hydrants replaced or newly installed over the past year.
Hawaii American Water has filed a rate adjustment request with the Hawaii Public Utilities Commission (HPUC) for its wastewater service customers in Hawaii Kai, Mauna Lani, and Waimea. The request reflects $41 million in local wastewater infrastructure replacement and upgrades across all three districts. If approved, the typical single-family customer on Oahu will see a monthly rate increase of about $9, while customers on Hawaii Island will see an increase of approximately $30 to $35 per month.
The proposed rate changes aim to fund essential infrastructure improvements, including treatment plants, collection systems, and pump stations. The company expects any approved rate changes to take effect in mid-2025, pending HPUC approval. This filing underscores Hawaii American Water's commitment to replacing aging infrastructure, ensuring safe and reliable service, and complying with environmental regulations.
New Jersey American Water has launched a Diverse Supplier Development Program to enhance its supplier diversity and support minority-owned businesses. The program, which runs from October 2024 to March 2025, aims to equip diverse suppliers with skills to compete for contracts with New Jersey American Water and other companies.
The six-month training covers important topics such as business operations, financial acumen, and growth strategies. It includes both in-person and virtual options, with sessions held monthly. The company is specifically seeking minority-owned, woman-owned, LGBTQ+-owned, disability-owned, or veteran-owned businesses, particularly those with experience in water and wastewater utilities.
Applications for the program close on August 9, 2024. Interested businesses can find more information and apply on the company's Suppliers & Vendors webpage.
Missouri American Water has launched its 2024 Firefighter Grant Program, offering financial support to fire protection and emergency response organizations in its service area. Grants of up to $1,200 are available for firefighting tools, equipment, protective gear, and training. Applications are open until August 31, 2024.
Last year, the program awarded over $55,000 across Missouri, with more than 200 grants distributed since 2016. The initiative aims to strengthen partnerships with local fire districts and support their community protection efforts. Eligible applicants include uniformed professional and volunteer fire departments serving Missouri American Water's service territories.
American Water (NYSE: AWK) reported solid second quarter 2024 results, with earnings of $1.42 per share compared to $1.44 in 2023. Year-to-date earnings remained flat at $2.37 per share. The company narrowed its 2024 EPS guidance to $5.25-$5.30 from $5.20-$5.30, affirming long-term targets. Key highlights include:
- $1.4 billion invested in H1 2024, including $119 million in acquisitions
- Approximately 43,000 customer connections added through June 30
- Significant regulatory execution with new rates effective in multiple states
- 2023 Sustainability Report published in July
- Leadership changes announced, effective August 1, 2024
American Water remains on track with its $3.1 billion capital investment plan for 2024 and affirms its long-term EPS and dividend growth rate targets of 7-9%.
American Water Works Company, Inc. (NYSE: AWK) has declared a quarterly cash dividend of $0.7650 per share of common stock, payable on September 4, 2024, to shareholders of record as of August 13, 2024. This dividend continues the increase in the annualized dividend announced on May 1, 2024. The company offers a dividend reinvestment and direct stock purchase plan called American Water Stock Direct, allowing shareholders to reinvest dividends and purchase additional shares without brokerage commissions or service charges. Interested parties can obtain the plan prospectus and enrollment form through Equiniti Trust Company, or American Water's Investor Relations department.
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