STOCK TITAN

American Water Works Company (AWK) Stock News, Dec 19-31, 2022

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.

Rhea-AI Summary

California American Water has filed for a rehearing with the California Public Utilities Commission regarding the Pure Water Monterey Expansion. This application seeks to recover infrastructure costs necessary for water distribution from the project. The company emphasizes the project's importance for the Monterey Peninsula's water supply and urges a swift review of a recent decision that delayed recovery of its investments, causing potential negative impacts on customers and the region.

Other parties may file responses by January 19, 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.10%
Tags
none
-
Rhea-AI Summary

West Virginia American Water's 2023 infrastructure replacement program, known as the Distribution System Improvement Charge (DSIC), was approved by the Public Service Commission of West Virginia. This initiative will facilitate timely cost recovery for infrastructure upgrades, addressing aging water systems. The $48.7 million investment includes $31 million for over 16 miles of water main replacements and a 5.98% surcharge on customer bills, averaging $3.63 per household. This program aims to enhance reliability and efficiency in water delivery for approximately 560,000 customers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.10%
Tags
none
-
Rhea-AI Summary

California American Water has agreed to acquire the West San Martin Water Works potable water distribution system, adding 309 customer connections in Santa Clara County. The acquisition will allow California American Water to enhance its service offerings to the San Martin community while continuing its operations from the Monterey Peninsula. With this acquisition, California American Water aims to provide improved conservation programs and a 24-hour emergency call center, supporting its mission to deliver high-quality water services.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.72%
Tags
none
Rhea-AI Summary

Illinois American Water, a subsidiary of American Water (NYSE: AWK), has expanded its service in Rosiclare by acquiring the city's water distribution system for $2.7 million. This purchase adds approximately 525 customers to its southern Illinois service area. The company previously acquired Rosiclare's water production and wastewater systems in 2020, committing to invest around $5 million over five years. Continued investments include upgrades to infrastructure and compliance improvements, enhancing water service reliability for the community.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.72%
Tags
-
Rhea-AI Summary

Summary not available.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.51%
Tags
none
-
Rhea-AI Summary

Illinois American Water has released an animated public service video aimed at educating customers on disposing of fats, oils, and grease (FOG) to prevent plumbing clogs during the holiday season. The video features characters Fats, Oil, and Grease, portraying the risks these substances pose to plumbing systems. Customers are advised to never pour grease down sinks or toilets, and to properly dispose of it after cooling. Illinois American Water serves about 1.3 million people and is a subsidiary of American Water (NYSE: AWK), the largest investor-owned water utility in the U.S.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.51%
Tags
none
Rhea-AI Summary

Illinois American Water advises homeowners to prevent frozen pipes during frigid winter temperatures. Key recommendations include allowing a small trickle of water to run overnight and opening cabinet doors to expose pipes to warmer air. If pipes freeze, customers should shut off the water immediately and apply heat to thaw them. For those away from home, having someone regularly check the property is essential. Illinois American Water, a subsidiary of American Water (NYSE: AWK), serves approximately 1.3 million people and has been recognized for high customer satisfaction in the Midwest.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.81%
Tags
none
-
Rhea-AI Summary

American Water and The Water Research Foundation have launched two PFAS communication toolkits to enhance public understanding of PFAS in drinking water. The first toolkit educates about PFAS origins and their environmental impact, with content for various platforms. The second toolkit aligns with the U.S. Environmental Protection Agency's UCMR5, providing a manual for water systems to create their own FAQs. This initiative aims to foster clear communication between water systems and their customers regarding PFAS safety.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.81%
Tags
none
-
Rhea-AI Summary

On Dec. 15, 2022, the Illinois Commerce Commission approved a rate adjustment for Illinois American Water, effective Jan. 1, 2023. This decision follows over $1.1 billion in system upgrades aimed at enhancing water and wastewater services across Illinois. Customers will see an annualized revenue increase of approximately $67 million, affecting water bills between $3 and $16 monthly and wastewater bills by $25 to $36. Additionally, a low-income discount tariff was introduced, potentially reducing bills for qualifying residents.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.81%
Tags
none
Rhea-AI Summary

California American Water has informed its customers in Southern California about a regional drought emergency declared by the Metropolitan Water District. This declaration urges immediate reductions in imported water use. Customers achieved significant water savings, with Ventura County and Los Angeles County experiencing reductions of 32% and 22% respectively compared to November 2020. The company encourages continued water conservation, offering programs such as Waterwise surveys and rebates for water-efficient devices.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.60%
Tags
none

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.