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American Water Works Company (AWK) Stock News, May 4-19, 2022

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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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California American Water has released its 2021 Consumer Confidence Reports, confirming that its water quality exceeds both state and federal standards. The reports detail drinking water sources, detected substances, and public health information. Kevin Tilden, President of California American Water, expressed satisfaction with the results, stating they aim to educate customers about their water quality. The reports feature a user-friendly design with illustrations for clarity. Customers can access their specific water quality reports by zip code on the company’s website.

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Illinois American Water is investing over $3 million to replace more than 11,000 feet of water main in the Pekin water system, enhancing service reliability and fire protection. This project, initiated in mid-April, aligns with the American Society of Civil Engineers report advocating for increased infrastructure investments. Kyle Smith, Sr. Superintendent, emphasized the ongoing commitment to upgrade aging infrastructure. Customers affected by the work will receive notifications about the impacts and updates during the construction phase.

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Virginia American Water has successfully acquired the drinking water system assets of the Town of Waverly, Virginia for $2.2 million, the first transaction under Virginia's Fair Market Value Legislation. The company plans to invest over $4 million in crucial water system enhancements, which include replacing water mains and meters. This acquisition will benefit approximately 905 customers, ensuring they receive high-quality water services. Additionally, the transaction alleviates pressure on Waverly's Public Works Department, allowing for improved town management.

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Illinois American Water is investing over $3 million to replace 8,600 feet of water main in Sterling. This upgrade aims to enhance water flow, pressure, and overall service reliability for consumers and fire protection. The project begins this week in multiple locations, including Northland Park Apartments. The initiative is part of ongoing efforts to address aging infrastructure, supported by insights from the American Society of Civil Engineers Report Card, which highlights the need for significant investments in water systems.

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Illinois American Water is investing $4 million to replace over 8,000 feet (1.5 miles) of water main in the Streator water system. This upgrade will improve water flow, pressure, and quality for fire protection. The project, starting this month and set for completion by end of 2022, includes work on E. Broadway St., W. Grant St., S. Illinois St., E. Stanton St., and Pine Tree Dr. Customers will receive updates through letters and notifications, ensuring minimal disruption.

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Hawaii American Water has reached a settlement agreement with Consumer Advocates at the HPUC for new rates affecting Hawaii Kai customers, the first adjustment since 2011. Effective July, the new rates will generate an additional $1.7 million annually to support local infrastructure. The average increase for customers is approximately 17%, raising single-family service fees from $67.08 to $78.60 monthly. Since 2011, over $32 million has been invested in wastewater improvements, including UV disinfection and solar upgrades, enhancing environmental protection and service quality.

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Pennsylvania American Water announced positive findings from its annual water quality reports during Drinking Water Week. The reports showcase excellent water quality across its 37-county service area, meeting compliance standards set by the U.S. Environmental Protection Agency and Pennsylvania Department of Environmental Protection. The company has received numerous Directors Awards for exceeding drinking water standards, highlighting its commitment to safe and reliable services for approximately 2.4 million customers.

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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.