American Water Works Company, Inc - AWK STOCK NEWS

New Jersey American Water will initiate the annual cleaning of its water distribution system starting March 15, enhancing water quality for approximately 2.8 million customers. The flushing process aims to remove mineral deposits and confirm the operational status of fire hydrants. Customers may experience temporary low water pressure or discoloration during the process. Recommendations include pre-storing water, checking for discoloration before use, and accessing flushing schedules online. New Jersey American Water is a subsidiary of American Water (NYSE: AWK), serving millions with reliable water services.

Missouri American Water is investing $2.2 million to upgrade 3,700 feet of water main in Creve Coeur, replacing old pipes installed in the 1920s with a 24-inch ductile iron main.

This initiative aims to enhance water service reliability and flow, especially for fire protection. This project is part of a broader effort, where over $100 million was invested last year to replace nearly 90 miles of aging water pipes in St. Louis County. The work is expected to be completed by fall 2021, prioritizing public safety during construction.

The Pennsylvania Public Utility Commission has approved Pennsylvania American Water's settlement to increase water and wastewater rates over two years. This allows for a total revenue increase of $70.5 million, following $1.64 billion in investments from 2019 to 2022 for infrastructure upgrades. Starting January 28, 2021, average residential water bills will rise from $57.85 to $61.92, and wastewater bills from $60.42 to $67.94. The company is also enhancing low-income assistance programs amid the ongoing pandemic, including increased contributions to its H2O Help to Others Program.

In 2020, New Jersey American Water donated over $1.5 million to more than 50 organizations across New Jersey, focusing on health, safety, and community support amidst the COVID-19 pandemic. Contributions included $950,000 via the Neighborhood Revitalization Tax Credit program and $245,000 to assist customers through the H2O Help to Others program. Moreover, employees raised $125,000 for local nonprofits. The company emphasizes continuous community involvement as a priority.

American Water Works Company (NYSE: AWK) reported 2020 earnings of $3.91 per share, up from $3.43 in 2019. The company announced a 2021 earnings guidance range of $4.18 to $4.28 per share, alongside long-term EPS growth targets of 7-10% from 2021-2025. Major highlights include $1.9 billion in capital investments and 23 regulated acquisitions. A virtual Investor Day is set for February 25, 2021, focusing on strategic growth and infrastructure investments.

American Water Works Company (NYSE: AWK) announced the appointment of Cheryl Norton as Executive Vice President and Chief Operating Officer, and Bruce Hauk as Deputy Chief Operating Officer, effective March 1, 2021. Norton, previously Senior Vice President and Chief Environmental Officer, will oversee operations for over 12 million customers across more than 1,600 communities. Hauk, currently President of Regulated Operations, will assist in managing the utility’s performance. The leadership changes aim to strengthen American Water's operational capabilities and emphasize customer care.

Pennsylvania American Water announced a substantial investment of $400 million in 2020 for enhancing its water and wastewater infrastructure in Pennsylvania. This investment, aimed at improving service for 2.4 million residents, included replacing over 126 miles of pipelines, upgrading treatment facilities, and enhancing leak detection technology. The investments generated over 6,200 jobs in the state, supporting local economies during the COVID-19 pandemic. The company continues to focus on delivering safe, reliable water while also engaging in community support through charitable contributions.

Illinois American Water has acquired the Concordia Water Cooperative's water distribution system for $1.7 million, adding around 150 customers in the Metro East area. This strategic move follows a vote by the cooperative in July 2019 and approval from the Illinois Commerce Commission. Customers can expect their bills to decrease by approximately $50.25 monthly due to the removal of infrastructure reimbursement costs. The company, which has over 145 years of service history, plans to enhance the water distribution system for improved reliability and customer satisfaction.