American Wtr Wks Co Inc Stock Price, News & Analysis

Pennsylvania American Water urges homeowners to prepare for impending cold weather to prevent frozen pipes. The company released a Winter Tips video highlighting preventative measures against costly household damages due to frozen pipes. Key recommendations include familiarizing yourself with freezing-prone areas, insulating pipes, and allowing a trickle of water to run from vulnerable pipes. In case of frozen pipes, they stress shutting off the water immediately and applying heat cautiously. Pennsylvanians are encouraged to clear snow around fire hydrants, aiding emergency response.

American Water (NYSE: AWK), the largest publicly traded U.S. water utility, has been included in Corporate Knights’ Global 100 list for sustainability leadership for the third consecutive year. The company is ranked sixth overall and is the top water utility on the list. This recognition is attributed to American Water's commitment to environmental, social, and governance (ESG) goals, as emphasized by interim CEO Susan Hardwick. The Global 100 ranking assesses 6,914 companies with revenues exceeding $1 billion, highlighting the correlation between strong ESG performance and investor returns.

Missouri American Water is investing $52 million to replace nearly 95,000 feet of aging water mains in St. Louis County. The project aims to improve service reliability and enhance fire protection. Construction will begin in January 2022 and is expected to run until May 2022, with completion of service line transfers and street restoration anticipated by July 2022. Major thoroughfares affected include N. Lindbergh Boulevard and Page Avenue. This initiative will benefit approximately 1.5 million customers.

New Jersey American Water has filed a petition with the New Jersey Board of Public Utilities for new rates due to over $985 million in infrastructure investments since the last rate review. The upgrades aim to enhance water quality and service reliability for 2.8 million customers. Proposed rate increases include $6.78 for average residential water bills and varying increases for sewer services. The rate request will undergo a thorough review process taking at least nine months, with final decisions made by the BPU.

Illinois American Water is investing $4 million to install Ultraviolet (UV) disinfection technology at its Streator water treatment plant. This upgrade will enable the facility to treat up to 6 million gallons of water daily, enhancing the safety of drinking water for local residents and businesses. Scheduled for completion this summer, the project aims to meet the EPA's Long Term 2 Enhanced Surface Water Treatment Rule. The new UV reactors will effectively address chlorine-resistant pathogens, reinforcing Illinois American Water's commitment to delivering high-quality water.

American Water Works Company (NYSE: AWK) has completed the sale of its regulated operations in New York to Liberty Utilities for $608 million in cash. Announced on November 20, 2019, and approved by the New York State Department of Public Service on December 16, 2021, this strategic divestiture is aimed at enhancing value for customers and shareholders. The sale was finalized on January 1, 2022, further solidifying Liberty's presence in New York.

Indiana American Water has acquired the Lowell water system for $24.5 million, adding approximately 4,000 customers and serving nearly 11,000 residents. This acquisition is the company's largest in over two decades and aligns with its strategy to expand its presence in Indiana. With this system, Indiana American Water aims to offer improved rate stability and enhanced customer service options, leveraging economies of scale. The Indiana Utility Regulatory Commission approved the acquisition on December 22, 2021, and it was finalized on December 28, 2021.

Pennsylvania American Water, in partnership with the City of York and the York City Sewer Authority, has applied to acquire the York City Sewer Authority, which serves over 13,000 customers. This acquisition, initially agreed in April 2021, aims to alleviate the financial burden of upgrading the aging wastewater system to meet new regulations. A public input hearing by the Pennsylvania Public Utility Commission is set for January 5, 2022, inviting community feedback. Customers can pre-register to testify until January 3, 2022. The transaction is significant for local infrastructure improvements.