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American Water Works Company (AWK) Stock News, Sep-Oct 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.

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Illinois American Water has successfully diverted over 109,000 dry tons of residuals and biosolids from landfills since 2016 by partnering with local farmers. This initiative is part of their commitment to environmental sustainability, enhancing soil health through alum and lime residuals and biosolids, which improve soil moisture and nutrient levels. The company adheres to strict application guidelines, ensuring responsible land use while promoting green technology. Illinois American Water serves approximately 1.3 million residents, demonstrating effective water treatment and community engagement.

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American Water (NYSE: AWK) announced its participation in the AWWA’s Second Annual Source Water Protection Week from September 25 to October 1. The initiative emphasizes community efforts in safeguarding drinking water sources. Lynda DiMenna, Chief Environmental and Safety Officer, highlighted American Water's commitment to educating employees and customers about safe and reliable water services. The company conducts nearly 1 million tests annually, collaborates with the EPA, and employs advanced technologies for water quality. Citizens are encouraged to adopt water conservation practices and proper disposal methods to protect water sources.

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Illinois American Water, a subsidiary of American Water (NYSE: AWK), has acquired the City of Villa Grove's water and wastewater systems for $11 million. This acquisition brings approximately 1,489 water and 1,069 wastewater customers into the eastern Illinois service area. Illinois American Water plans to invest $21 million over the first seven years for significant upgrades, including new water meters and a wastewater treatment plant, enhancing system reliability and supporting community growth.

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California American Water has acquired Warring Water Services, Inc. for $4.6 million, expanding its services to approximately 634 new homes and businesses in Piru, California. The acquisition, recently approved by the California Public Utilities Commission, enhances customer access to reliable water services and a 24-hour customer service line. Former Warring Water customers will enjoy benefits like MyWater, an online portal for account management. The deal emphasizes California American Water's commitment to delivering quality service in the Ventura County area.

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The Monterey Peninsula Water Supply Project has received approval to move forward for a vote at the California Coastal Commission's upcoming meeting in November 2022. This project aims to create and expand water supply sources to alleviate regional demand on groundwater and the Carmel River. Local leaders stress the importance of the project in ensuring sustainable water resources, supporting the local economy, and addressing the pressing challenges posed by California's drought and seawater intrusion.

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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.