California Wtr Svc Group Stock Price, News & Analysis

Hawaii Water Service, a subsidiary of California Water Service Group (CWT), has completed the acquisition of Kalaeloa Water Company from Hunt Companies Inc., expanding its service area in Kapolei, Honolulu. This utility serves a 3,700-acre area formerly known as Barbers Point Naval Air Station. The company aims to maintain reliable water and wastewater services for residential and commercial customers in the region. CEO Martin Kropelnicki expressed commitment to delivering high-quality utility services to Kalaeloa residents.

California Water Service (CWT) announced plans to acquire the wastewater system assets of Gunner Ranch Inc., serving southern Madera County, including Valley Children’s Hospital. The acquisition will enable the new Gunner Ranch West system to support a planned development of 2,840 residential units and commercial facilities. Expected to close by early 2021, this strategic move signifies Cal Water's expansion in the growing Madera County region, ensuring reliable wastewater services for local communities.

The California Water Service Group (NYSE: CWT) has announced the declaration of its 303rd consecutive quarterly dividend at $0.2125 per common share. This dividend is set to be paid on November 20, 2020, to shareholders on record by November 9, 2020. The group serves approximately 2 million customers across various states including California, Washington, New Mexico, and Hawaii. The company remains committed to providing water services while navigating potential risks such as regulatory changes and environmental standards.

California Water Service Group (NYSE: CWT) will release its third quarter 2020 earnings results on November 6, 2020, at 9:00 a.m. ET. The teleconference will follow at 11:00 a.m. ET, where stakeholders can dial in using 1-833-832-5130 or 1-509-844-0151, ID# 3858077. A replay of the call will be available until February 5, 2021. The company, serving nearly 2 million customers, operates under several brands across multiple states, emphasizing its essential role in providing water services.

California Water Service (CWT) received a proposed decision from the CPUC in its 2018 General Rate Case. If adopted on Nov. 19, 2020, it would validate a 2019 settlement and authorize CWT to invest $828 million for infrastructure upgrades. The proposal suggests a revenue increase of approximately $6.6 million in 2020, escalating to $20.9 million by 2022. The decision also allows CWT to retain certain balancing accounts. Management expresses gratitude for the ruling, emphasizing their commitment to delivering reliable water services while controlling costs.

California Water Service (CWT) has successfully completed the Palos Verdes Peninsula Water Reliability Project, marking the largest water infrastructure upgrade in its history. This extensive project involved over 15 years of planning and 7 miles of new pipeline installation, enhancing the reliability of water service for residents and firefighters. The upgrade includes a second pump station aimed at preventing service outages during natural disasters. Serving approximately 2 million people, CWT emphasizes the vital role of this project amid challenges like climate change and wildfires.

New Mexico Water Service, a subsidiary of California Water Service Group (CWT), has signed a purchase agreement to acquire the Morning Star Water System assets from Animas Valley Land and Water Co. This acquisition will provide regulated water service to approximately 2,000 customers in northwest New Mexico. The deal is pending court and regulatory approval and is expected to close in early 2021. Group's CEO, Martin A. Kropelnicki, expressed commitment to delivering high-quality water service to all customers.

California Water Service (CWT) has launched the Smart Landscape Tune-Up Program to assist customers in managing water usage and bills, especially amid the financial challenges posed by the coronavirus pandemic. This free program offers personalized evaluations to identify irrigation leaks and water-saving opportunities. Additionally, no-cost repair services for leaks and faulty equipment, such as valve replacements and sprinkler upgrades, are included. CWT is committed to providing quality service while helping residents save water and reduce expenses.

California Water Service has announced the winners of its second annual Firefighter Grant Program, awarding a total of $148,500 to fire departments within its service areas. Originally projected at $60,000, the grant funds support essential equipment for firefighters. Recipients include departments from Visalia, Stockton, Northshore, Russian River, King City, Bakersfield, and Selma, each receiving grants for crucial firefighting tools. Cal Water aims to enhance community safety through this initiative, reaffirming its commitment to providing a reliable water supply for emergency responders.