CAMDEN, N.J.--(BUSINESS WIRE)--New Jersey American Water announced today it has signed an agreement to acquire the wastewater collection system (commonly referred to as the sewer system) of the Borough of Manville, N.J. for $6.5 million. This municipally owned system serves approximately 3,700 customers, most of whom already receive water service from New Jersey American Water. The agreement follows a voter referendum that took place in November 2023, in which over 80 percent of the voters approved the sale ...

CAMDEN, N.J.--(BUSINESS WIRE)--Beginning this week and into the fall months, New Jersey American Water will perform the annual flushing of its water distribution system to continue to provide customers with high-quality, reliable water service. “Flushing our system is an important, routine process that helps us clean out any mineral deposits or sediment that may have built up over time inside the pipes,” said New Jersey American Water President Mark McDonough. “While we’re flushing, we also take the oppo ...

PACIFIC GROVE, Calif.--(BUSINESS WIRE)--California American Water is proud to announce a $20,000 State Strategic Impact grant awarded to the Carmel River Steelhead Association from the American Water Charitable Foundation, a 501(c)(3) organization established by American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S. The funds will directly support the association's ongoing efforts to conserve and restore the threatened Steelhead trout population in the Carmel Rive ...

Americans who were bullish about the economy till a few weeks ago have suddenly grown concerned as inflation once again increased in January. The confidence level thus has once again taken a hit, as consumers believe that the Federal Reserve could delay the first rate cut for a longer time.The University of Michigan’s consumer sentiment survey came up with a reading of 76.9 in February, declining unexpectedly from January’s reading of 79. This is the first decline in consumer sentiment in the past three mon ...

ST. LOUIS, Mo.--(BUSINESS WIRE)--Missouri American Water has named Jody Carlson as Vice President of Operations. In this role, Carlson will lead nearly 650 employees across the state in field operations, water production, system maintenance, water quality and environmental compliance to provide safe, clean, and reliable service to 1.6 million Missourians. “Jody is a valuable and versatile member of Missouri American Water’s team,” said Rich Svindland, president of Missouri American Water. “His extensive ...

CHARLESTON, W.Va.--(BUSINESS WIRE)--The Public Service Commission of West Virginia (PSC) issued an order late Friday, February 23 approving adjusted water and wastewater rates for West Virginia American Water customers following the company’s May 2023 request for a rate adjustment. The order authorizes an additional $18.4 million in revenue, driven by over $220 million in completed infrastructure investments made since 2020, including upgrades to water mains, treatment plants, tanks, valves, booster station ...

Company Overview - American Water Works (AWK) is a utilities stock headquartered in Camden, experiencing a price change of -9.33% year-to-date [2] - The company currently pays a dividend of $0.71 per share, resulting in a dividend yield of 2.36%, which is slightly below the Utility - Water Supply industry's yield of 2.39% and significantly above the S&P 500's yield of 1.57% [2] Dividend Performance - The annualized dividend of American Water Works is $2.83, reflecting a 1.9% increase from the previous year [2] - Over the past 5 years, the company has increased its dividend 5 times, achieving an average annual increase of 9.28% [2] - The current payout ratio stands at 58%, indicating that the company distributes 58% of its trailing 12-month earnings per share as dividends [2] Earnings Expectations - The Zacks Consensus Estimate for American Water Works' earnings in 2024 is projected at $5.20 per share, representing a year-over-year growth rate of 6.12% [3] Investment Considerations - Dividends are favored by investors for various reasons, including tax advantages and risk reduction in portfolios [4] - Larger, established companies are more likely to offer dividends compared to tech start-ups or high-growth businesses [4] - American Water Works is highlighted as a compelling investment opportunity due to its attractive dividend and a strong Zacks Rank of 2 (Buy) [4]

Investors looking for stocks in the Utility - Water Supply sector might want to consider either Veolia Environnement SA (VEOEY) or American Water Works (AWK) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estim ...

Americans, who were till some time back confident about the nation’s economy, have suddenly started growing more concerned about the future. A sudden jump in inflation in January appears to have dented their confidence.The Conference Board said on Feb 27 that consumer confidence declined to 106.7 in February after increasing to 110.9 in January, when confidence level hit a two-year high. The unexpected decline comes after three straight months of increase.Consumers' expectations of inflation fell to 5.2%, h ...

PACIFIC GROVE, Calif.--(BUSINESS WIRE)--Today, California American Water filed a motion asking the Monterey County Superior Court to dismiss the Monterey Peninsula Water Management District's (District) lawsuit seeking a government takeover of the company's Monterey Peninsula water system through eminent domain. The motion argues that the District’s lawsuit fails to meet fundamental legal requirements necessary to proceed with such a significant action and should be dismissed. The motion is scheduled for a ...