Welcome to our dedicated page for Essential Utilities news (Ticker: WTRG), a resource for investors and traders seeking the latest updates and insights on Essential Utilities stock.
Essential Utilities, Inc. (symbol: WTRG) is a key player in the United States utility sector, providing regulated water and wastewater services. Operating through its various subsidiaries, the company serves around three million residential, commercial, industrial, and municipal customers across multiple states including Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, and Virginia.
Headquartered in Bryn Mawr, Pennsylvania, Essential Utilities' history dates back to 1886, formerly known as Aqua America, Inc. The company underwent a rebranding in February 2020 to become Essential Utilities, Inc. The firm has a significant footprint in Pennsylvania, where nearly three-fourths of its water earnings are generated, primarily from suburban Philadelphia.
In addition to traditional water services, Essential Utilities provides non-utility raw water supply services to companies in the natural gas drilling industry. It also offers water and sewer line protection solutions and repair services to households through third-party agreements. Its Peoples subsidiary extends the company's reach into the natural gas sector, serving over 740,000 customers in Pennsylvania and Kentucky.
Over the years, Essential Utilities has consistently prioritized sustainable practices and infrastructure improvements. Recent projects include upgrading water treatment facilities and expanding service coverage to underserved areas. Financially, the company maintains a stable outlook supported by strong regulatory frameworks and long-term contracts.
Essential Utilities has also established several partnerships to enhance service delivery and operational efficiency. These partnerships allow the company to innovate and implement cutting-edge technologies in water treatment and distribution. Through these efforts, Essential Utilities continues to play a crucial role in ensuring access to safe and reliable water and wastewater services.
Essential Utilities Inc. (NYSE: WTRG) appointed W. Bryan Lewis to its board of directors, enhancing its governance with his extensive investment expertise. Lewis, the chief investment officer at United States Steel Corporation, has a successful track record of managing large pension funds and reducing investment risks. His appointment aligns with Essential's commitment to diversity and growth. The company, serving 5.5 million customers in 10 states, focuses on water, wastewater, and natural gas services while prioritizing infrastructure investment and environmental stewardship.
The board of directors of Essential Utilities (NYSE: WTRG) declared a quarterly cash dividend of
Essential Utilities Inc. (NYSE: WTRG) announced that its subsidiary, Aqua Pennsylvania, has secured a $5.5 million grant from the Pennsylvania Infrastructure Authority for constructing a treatment facility in Horsham Township. This facility aims to remove harmful per- and polyfluoroalkyl substances (PFAS) from local water. The funding will alleviate costs for Aqua ratepayers and support the installation of new ion exchange contactors. This is the second PENNVEST grant received by Aqua, following a $4.5 million grant in 2020 for a similar project.
Essential Utilities Inc. (NYSE: WTRG) is set to announce its earnings for the quarter ending September 30, 2022, before the market opens on November 7, 2022. A conference call for financial analysts will follow at 11 a.m. EST on the same day, with a live webcast available on their website. The call will be archived for 90 days, and an audio replay will be accessible starting at 2 p.m. EST that day for 10 business days. Essential provides water and natural gas services to around 5.5 million customers across 10 states.
The University of Pittsburgh and Peoples Gas, a subsidiary of Essential Utilities, announced a research partnership to explore hydrogen as a future energy source. This collaboration aims to benchmark and study the safe transportation of hydrogen through natural gas pipelines. Following initial research, a pilot project will assess the impact of hydrogen on the existing infrastructure. Hydrogen's potential as a non-carbon energy source could play a crucial role in reducing emissions in the Appalachian Basin, leveraging natural gas reserves.
Essential Utilities Inc. (NYSE: WTRG) announced that its subsidiary, Aqua Pennsylvania, has halted exclusivity discussions regarding a potential acquisition with the Bucks County Water and Sewer Authority. The company expressed surprise and disappointment at this decision but remains committed to providing solutions to water and sewer utilities in the region. Essential has completed two acquisitions in 2022 and currently has seven additional signed agreements totaling approximately $364.5 million, targeting over 217,000 retail customers.
Essential Utilities has appointed Kimberly Joyce as corporate secretary, in addition to her current role as Vice President of Regulatory and Government Affairs. This transition aims to leverage Joyce's 15 years of experience with the company, enhancing the board's oversight and compliance with Securities & Exchange Commission regulations. Joyce previously worked with the Pennsylvania Public Utility Commission and holds a B.A. in economics, an M.B.A., and a J.D. This move is expected to ensure organizational stability and continuity.
Essential Utilities has appointed Jim Barbato as the new vice president of financial planning and analysis from his previous role as vice president of corporate engineering. He will report to the CFO and oversee financial planning functions, including budgeting, forecasting, and capital budgeting. Barbato has been with the company since 2007, holding various engineering roles across several states. His extensive experience in capital planning and engineering makes him well-suited for this strategic position. CFO Dan Schuller emphasized the importance of investment in infrastructure for the company's mission.
Essential Utilities Inc. (NYSE: WTRG) announced the acquisition of East Whiteland Township's municipal wastewater assets in Chester County for approximately $55 million. This system serves around 8,200 customer-equivalents and includes 57 miles of collection mains and 12 pump stations. The acquisition enhances Essential's wastewater services and builds on its existing water service credibility in the area. Over the next decade, Essential plans to invest $17 million in infrastructure improvements, including major sewer extensions. This marks the second acquisition by Essential in 2022.
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