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American Water's Unit to Invest $0.7M to Replace Water Mains
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American Water Works (AWK - Free Report) announced that its subsidiary, Pennsylvania American Water is going to invest $0.72 million for replacing aging water mains and has started construction to replace 3,000 feet of water main in Washington County. These upgrades will enhance reliability and ensure better fire protection of the residents in that region.
This investment is part of a $16.7 million investment in Washington County in 2020. The company aims to replace 12 miles of aging mains in Washington County in 2020. Pennsylvania American Water currently provides reliable water and wastewater services to more than 2.4 million residents in Pennsylvania.
Aging Water Infrastructure
The existing water and wastewater infrastructure of the United States is getting old and gradually advancing toward the end of effective service life. Per the finding of Utah State University, between 250,000 and 300,000 line breaks occur every year in the United States due to aging of the existing water infrastructure. Billions of gallons of precious potable water are lost in the United States every year due to thousands of pipeline breaks across the country on a daily basis.
American Water has been investing regularly to strengthen its water and wastewater infrastructure. 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, Essential Utilities (WTRG - Free Report) is also making regular investments in water and wastewater systems. Its long-term plan is to invest $2.8 billion in the 2020-2022 time period to rehabilitate and strengthen the existing water and natural gas pipeline systems. Another water utility, Middlesex Water Company (MSEX - Free Report) — through its multi-million infrastructure investment initiative, Water for Tomorrow® Program — is replacing the aging infrastructure and strengthening the water distribution system for continued service reliability, resiliency, as well as maintaining water quality.
Price Performance
Shares of American Water have outperformed the industry in the past 12 months.
Primo Water delivered an average surprise of 34.4% in the last four quarters. The Zacks Consensus Estimate for its 2020 earnings has moved 21.2% upward in the past 90 days.
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Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
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American Water's Unit to Invest $0.7M to Replace Water Mains
American Water Works (AWK - Free Report) announced that its subsidiary, Pennsylvania American Water is going to invest $0.72 million for replacing aging water mains and has started construction to replace 3,000 feet of water main in Washington County. These upgrades will enhance reliability and ensure better fire protection of the residents in that region.
This investment is part of a $16.7 million investment in Washington County in 2020. The company aims to replace 12 miles of aging mains in Washington County in 2020. Pennsylvania American Water currently provides reliable water and wastewater services to more than 2.4 million residents in Pennsylvania.
Aging Water Infrastructure
The existing water and wastewater infrastructure of the United States is getting old and gradually advancing toward the end of effective service life. Per the finding of Utah State University, between 250,000 and 300,000 line breaks occur every year in the United States due to aging of the existing water infrastructure. Billions of gallons of precious potable water are lost in the United States every year due to thousands of pipeline breaks across the country on a daily basis.
American Water has been investing regularly to strengthen its water and wastewater infrastructure. 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, Essential Utilities (WTRG - Free Report) is also making regular investments in water and wastewater systems. Its long-term plan is to invest $2.8 billion in the 2020-2022 time period to rehabilitate and strengthen the existing water and natural gas pipeline systems. Another water utility, Middlesex Water Company (MSEX - Free Report) — through its multi-million infrastructure investment initiative, Water for Tomorrow® Program — is replacing the aging infrastructure and strengthening the water distribution system for continued service reliability, resiliency, as well as maintaining water quality.
Price Performance
Shares of American Water have outperformed the industry in the past 12 months.
Zacks Rank and Another Key Pick
Currently, the company has a Zacks Rank #2 (Buy). Another top-ranked water utility is Primo Water Corporation (PRMW - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Primo Water delivered an average surprise of 34.4% in the last four quarters. The Zacks Consensus Estimate for its 2020 earnings has moved 21.2% upward in the past 90 days.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
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