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American Water (AWK) Arm Invests $11M in Clear Well, Pump Station
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American Water Works (AWK - Free Report) announced that its subsidiary, Missouri American Water has invested $11 million to construct a clear well and another high-service pump station at the Jefferson City treatment plant. The objective of this investment is to provide clean, safe and reliable water services to its customers.
The well added in the system will assist Missouri American Water to maintain system pressure and meet customer water needs, especially in summer, when demand for water increases due to lawn irrigation and outdoor use.
Investment Essential in Water Space
The pandemic outbreak has once again proved the importance of potable water. Millions of miles of pipelines, storage tanks, pumps and water refineries work together to deliver clean and potable water. However, the water infrastructure — primarily the water pipelines — is gradually approaching toward the end of effective life. As a consequence, pipeline breakage is causing wastage of potable water, thereby increasing the possibility of contamination.
So, replacing the aging water mains with new pipelines has become quite essential to ensure the safety of water quality, and avoid interruption of water as well as wastewater services due to breakage. The increasing demand for water also requires addition, and expansion of the existing water and wastewater infrastructure.
Per the Water and Wastewater Equipment Manufacturers Association, an estimated $750 billion investment is necessary to maintain and expand the drinking water and wastewater service to meet demand over the next 20 years. American Water continues to make investments in its infrastructure to upgrade, enhance and maintain the same. The company has plans to invest $8.8-$9.4 billion in the 2020-2024 time period and $20-$22 billion in the next decade.
In addition to American Water, another water utility California Water Service Group (CWT - Free Report) has plans to invest $839 million in its water infrastructure in the 2019-2021 time period. Essential Utilities (WTRG - Free Report) is also making regular investments to upgrade the existing water and wastewater systems. Its long-term plan is to invest $2.8 billion in the 2020-2022 time period to rehabilitate, and strengthen water as well as natural gas pipeline systems.
Another water utility, Global Water Resources (GWRS - Free Report) is making acquisitions and the necessary investments to expand as well as strengthen operations, and upgrade the acquired assets for providing efficient services to customers.
Price Performance and Zacks Rank
Shares of American Water have outperformed the industry in the past 12 months.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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American Water (AWK) Arm Invests $11M in Clear Well, Pump Station
American Water Works (AWK - Free Report) announced that its subsidiary, Missouri American Water has invested $11 million to construct a clear well and another high-service pump station at the Jefferson City treatment plant. The objective of this investment is to provide clean, safe and reliable water services to its customers.
The well added in the system will assist Missouri American Water to maintain system pressure and meet customer water needs, especially in summer, when demand for water increases due to lawn irrigation and outdoor use.
Investment Essential in Water Space
The pandemic outbreak has once again proved the importance of potable water. Millions of miles of pipelines, storage tanks, pumps and water refineries work together to deliver clean and potable water. However, the water infrastructure — primarily the water pipelines — is gradually approaching toward the end of effective life. As a consequence, pipeline breakage is causing wastage of potable water, thereby increasing the possibility of contamination.
So, replacing the aging water mains with new pipelines has become quite essential to ensure the safety of water quality, and avoid interruption of water as well as wastewater services due to breakage. The increasing demand for water also requires addition, and expansion of the existing water and wastewater infrastructure.
Per the Water and Wastewater Equipment Manufacturers Association, an estimated $750 billion investment is necessary to maintain and expand the drinking water and wastewater service to meet demand over the next 20 years. American Water continues to make investments in its infrastructure to upgrade, enhance and maintain the same. The company has plans to invest $8.8-$9.4 billion in the 2020-2024 time period and $20-$22 billion in the next decade.
In addition to American Water, another water utility California Water Service Group (CWT - Free Report) has plans to invest $839 million in its water infrastructure in the 2019-2021 time period. Essential Utilities (WTRG - Free Report) is also making regular investments to upgrade the existing water and wastewater systems. Its long-term plan is to invest $2.8 billion in the 2020-2022 time period to rehabilitate, and strengthen water as well as natural gas pipeline systems.
Another water utility, Global Water Resources (GWRS - Free Report) is making acquisitions and the necessary investments to expand as well as strengthen operations, and upgrade the acquired assets for providing efficient services to customers.
Price Performance and Zacks Rank
Shares of American Water have outperformed the industry in the past 12 months.
American Water Works currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>