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 has secured $19.3 million in funding from PENNVEST, comprising low-interest loans and a grant for two major infrastructure projects. The first project, supported by a $15.2 million loan at 1% interest over 30 years, will upgrade the Kinzua Road Wastewater Treatment Plant in Kane Borough, increasing its capacity from 3.5 MGD to 5.25 MGD.
The second project, funded by a $2.46 million loan and $1.64 million grant, aims to replace 250 lead water service lines in Homestead Borough, Allegheny County. The loan terms are 1% for the first five years and 1.743% for the remaining 15 years of the 20-year period. These improvements will enhance water quality and reduce combined sewer overflow events.
Virginia American Water has received approval from the Virginia State Commission for new water and wastewater rates, resulting in a total annualized revenue increase of $14.6 million. The rate adjustment follows over $110 million in infrastructure investments in treatment system and distribution upgrades.
The new approved rates, effective May 1, 2024, actually represent a decrease from interim rates. Customers using 4,000 gallons monthly will see their water bills decrease by approximately $2.00 per month, while wastewater customers will experience roughly a $1.50 monthly decrease. The company serves approximately 350,000 people and will issue credits to customers for the difference between interim and permanent rates within 90 days.
Illinois American Water has invested over $277 million in system improvements across its service areas in 2024, continuing its significant infrastructure investment trend that totals approximately $2 billion since 2013. Major projects included:
- A $6.3 million upgrade in Alton featuring ultraviolet light equipment
- A $31.5 million investment in Jerseyville for enhanced water treatment
- A new $40 million water treatment plant in Lincoln with 5 million gallons daily capacity
- $67 million for installing and replacing over 42 miles of main
- $6.8 million for replacing 345 fire hydrants and 782 valves
- $27.2 million in wastewater treatment facility improvements
These investments aim to address aging infrastructure, maintain safety standards, and meet regulatory requirements. The company's capital investments contributed to creating over 4,200 jobs in Illinois during the year.
American Water (NYSE: AWK) reported strong 2024 financial results with earnings of $5.39 per share, up from $4.90 in 2023. The company delivered an 8.1% dividend growth and invested $3.3 billion in capital improvements, including $417 million for regulated acquisitions.
Key achievements include adding nearly 90,000 customer connections (69,500 through acquisitions) and securing approximately $389 million in authorized additional annualized revenues from rate cases. The company affirmed its 2025 EPS guidance range of $5.65-$5.75 and long-term EPS and dividend growth targets of 7-9%.
In a leadership transition, CEO M. Susan Hardwick will retire on May 14, 2025, to be succeeded by current President John Griffith. Under Hardwick's leadership, the company expanded its ten-year capital plan to $42 billion and completed over 100 acquisitions across 12 regulated states.
American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., has announced the continuation of its partnership with Scholarship America® for its 2025 scholarship program. The initiative will distribute $100,000 in awards to students within American Water's national footprint who are pursuing non-medical STEM or business-related degrees at accredited four-year colleges.
Since 2023, the company has awarded 20 scholarships, which are renewable for up to three additional years or until recipients earn their bachelor's degrees. The program will continue through 2026, with total awards exceeding $1 million.
California American Water has completed a $560,000 water storage tank rehabilitation project in Monterey. The project focused on upgrading the 80,000-gallon Aguajito Tank with several critical improvements to enhance its long-term performance and reliability.
The comprehensive rehabilitation included interior and exterior coating to prevent corrosion and leaks, installation of new ladder and handrails for safer maintenance access, and piping modifications to meet current standards with seismic improvements. Additional maintenance work covered repairs to anchor bolts, foundation, manholes, and roof vents, followed by thorough cleaning and disinfection.
Project Manager Jenna Engelken emphasized their efficient approach to minimize service disruption while implementing necessary infrastructure improvements. The company maintains a proactive maintenance schedule to combat the effects of harsh summer heat and salty ocean winds on their tanks.
American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., has announced multiple payment options and services for customers to pay their water bills. The company offers five main payment methods: Auto Pay through MyWater portal, online payment at amwater.com/billpay ($1.95 transaction fee may apply for both), mail-in payment, 24/7 phone payment, and in-person payment at authorized locations.
Additional services include Budget Billing for predictable monthly payments, Paperless Billing with 36-month bill history access, Preferred Due Date adjustment options, and Third-Party Notification for delegated bill management.
American Water (NYSE: AWK) has announced key leadership appointments in its Communications and External Affairs team. Denise Venuti Free has been promoted to Vice President of External Communications, where she will lead the company's communications strategy. She joined American Water in 2009 and previously served as Senior Director of Communications and External Affairs for New Jersey American Water.
Michael Chirico has been appointed Director of Legislative and External Affairs, bringing experience from the U.S. Chamber of Commerce and various federal institutions. He will focus on strengthening strategic third-party relationships and enhancing American Water's voice with policymakers.
Megan Hannah has been named Director of External Communications, tasked with developing stakeholder education strategies. She previously served as Senior Manager of Government and External Affairs at West Virginia American Water for over a decade.
California American Water has completed a $4.5 million water main replacement project in its Bellflower system. The project included replacing 8,510 linear feet of aging 4 and 6-inch asbestos cement water main with new 8-inch ductile iron pipes, installing new service pipes for 170 customers, upgrading 13 fire hydrants, and replacing 39 gate valves.
The company acquired Bellflower's municipal water system in 2022 and has since made several upgrades to serve approximately 1,800 homes and businesses. The infrastructure improvements aim to make the system more durable, less prone to corrosion, and reduce service disruptions, ensuring increased reliability for customers.
California American Water, a subsidiary of American Water, has completed the $1.6 million acquisition of West San Martin Water Works, adding approximately 325 new water connections to its existing base of 40,000 connections in the Monterey Peninsula region. The acquisition, approved by the CPUC in January 2025, will commence service in February 2025.
The consolidation aims to provide rate stability and resources for capital improvements while leveraging California American Water's industry expertise. The transition will be seamless for customers, requiring no action from their end. A community workshop is scheduled for February 8, 2025, at the Wings of History Museum in San Martin to introduce company representatives to new customers.
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