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American Water Works Company (AWK) Stock News, May-Jun 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 announced the availability of its 2021 Consumer Confidence Report, detailing the quality and source of the drinking water it provides. Customers can view the report online by entering their zip code, highlighting the company's commitment to exceeding EPA standards. The annual report contains essential water source information and test results, affirming the importance of safe and reliable water service. Illinois American Water serves approximately 1.3 million people and is a subsidiary of American Water (NYSE: AWK).

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American Water (NYSE: AWK) has announced the winners of the 30th Annual James V. LaFrankie Scholarship Awards, honoring nine exceptional high school seniors nationwide. Each recipient, who demonstrated outstanding academic records and a passion for science and water-related fields, will receive a $1,000 scholarship. Out of 68 applications, these students were selected by an independent organization. The scholarship program, established in 1991, reflects American Water's commitment to supporting education in the water industry.

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California American Water's Larkfield Water Treatment Plant will undergo maintenance from June 7 to June 9, 2022, impacting supply but ensuring uninterrupted service due to a partnership with Sonoma Water. Customers are encouraged to conserve water during this period, as the company invests over $200k in essential filter replacements to enhance efficiency and reliability. These proactive capital investments are part of a broader strategy for asset renewal. For inquiries, customers may contact the company directly.

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Pennsylvania American Water has completed its largest wastewater system acquisition by purchasing York's wastewater system for $235.3 million. This acquisition serves over 45,000 customer connections and includes a commitment to invest $17.5 million in improvements over five years. As part of the deal, 23 employees will join Pennsylvania American Water, enhancing local operations. The purchase aims to elevate service quality and meet environmental standards while allowing the City of York to address its financial challenges and improve infrastructure.

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American Water (NYSE: AWK) announced that Hannah Greenwald, a doctoral student at UC Berkeley, has been awarded the 2022 American Water Scholarship. This $5,000 annual award is designed for graduate students pursuing careers in the water industry. Greenwald was selected from 166 applicants for her academic excellence and commitment to water research. Her studies focus on microbial safety in drinking water and wastewater-based epidemiology, aimed at improving water infrastructure and public health.

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Illinois American Water is investing over $1 million to replace approximately 4,800 feet of water main in Lincoln, Illinois. This initiative aims to enhance the safety and reliability of water service for residents and businesses. Construction will start in June, impacting areas like Decatur Street and Kickapoo Street. Additionally, progress continues on the new South Water Treatment Plant, with completion expected in early 2023, reinforcing quality service for the community.

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California American Water has announced a two-days-per-week outdoor watering schedule for Los Angeles County residents due to severe drought conditions. This decision follows a Water Shortage Emergency declaration, requiring immediate water usage reductions. Starting June 1, 2022, outdoor watering will be limited, with odd addresses watering on Tuesday and Saturday and even addresses on Thursday and Sunday. The utility emphasizes the importance of conservation efforts, with recommendations to minimize evaporation by watering at specific times. California American Water aims to educate customers on sustainable water usage practices.

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California American Water has announced a one-day-a-week outdoor watering restriction for Ventura County customers, effective June 1, 2022, due to severe drought conditions. Specific guidelines apply to Thousand Oaks, Newbury Park, and Camarillo, while El Rio customers may water twice a week. These measures align with the Metropolitan Water District's Water Shortage Emergency declaration. The company emphasizes the need for immediate water conservation and education to mitigate the impact of the ongoing drought.

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Pennsylvania American Water has donated $10,000 to the Pennsylvania Envirothon, an environmental education program for high school students. This donation aligns with their Career Stream program, which promotes interest in water and wastewater careers through scholarships and outreach. The Envirothon event facilitates critical thinking about natural resources. With a history since 1886, Pennsylvania American Water serves approximately 2.4 million residents, providing reliable water and wastewater services as a subsidiary of American Water (NYSE: AWK).

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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.