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American Water (AWK) to Invest in Water System in New Jersey
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American Water Works (AWK - Free Report) announced that its unit, New Jersey American Water, is going to invest $3.4 million for improving water and wastewater infrastructure in the Lakewood service area. The company plans to replace nearly 3,000 feet of aging sewer main and 8,000 feet of aging water main.
It will upgrade the aging water mains with new eight-inch PVC sewer main and ductile iron water main as well as install eight fire hydrants and 85 utility-owned service lines along the pipeline route. All these upgrades will ensure an increase in water flow for customers and adequate supply of water for fire fighters.
New Jersey American Water regularly invests to upgrade, maintain and expand the existing infrastructure. This project is part of its multimillion-dollar initiative to improve the quality of water and wastewater infrastructure. The company provides services to 2.8 million people.
Investment in Aging Water Infrastructure
Potable water supply and wastewater services on a 24x7 basis are essential for maintaining hygiene as well as performing daily chores. However, aging of pipelines and resultant breaks in water mains are primary concerns that may disrupt water services.
Per the findings of the American Society of Civil Engineers, water main breaks occur every two minutes in the United States due to aging of the existing water infrastructure. Pipeline breaks result in the wastage of 6 billion gallons of potable water each day and add to the loss of water utility operators. Per the Water and Wastewater Equipment Manufacturers Association, an estimated $750 billion investment is necessary to maintain and expand drinking water as well as wastewater services to meet demand over the next 20 years.
Water utilities operating in the United States are trying their best to upgrade and maintain the aging waster infrastructure. American Water continues to make investments in its infrastructure to upgrade, enhance and maintain the same. The company has plans to invest $10.4 billion in the 2021-2025 time period and $22-$25 billion in the next decade.
In addition to American Water, water utilities like Essential Utilities (WTRG - Free Report) are making regular investments to upgrade the existing water and wastewater systems. Its long-term plan is to invest nearly $3 billion through 2023 to rehabilitate, and strengthen water as well as natural gas pipeline systems. Another water utility, Middlesex Water (MSEX - Free Report) — under the Water for Tomorrow program — is making regular capital investments to enhance system reliability, resiliency and overall service quality. California Water Service (CWT - Free Report) plans to invest in the range of $270-$300 million in 2021 to strengthen its water and wastewater infrastructure.
Price Performance
Shares of American Water have outperformed the industry in the past year.
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American Water (AWK) to Invest in Water System in New Jersey
American Water Works (AWK - Free Report) announced that its unit, New Jersey American Water, is going to invest $3.4 million for improving water and wastewater infrastructure in the Lakewood service area. The company plans to replace nearly 3,000 feet of aging sewer main and 8,000 feet of aging water main.
It will upgrade the aging water mains with new eight-inch PVC sewer main and ductile iron water main as well as install eight fire hydrants and 85 utility-owned service lines along the pipeline route. All these upgrades will ensure an increase in water flow for customers and adequate supply of water for fire fighters.
New Jersey American Water regularly invests to upgrade, maintain and expand the existing infrastructure. This project is part of its multimillion-dollar initiative to improve the quality of water and wastewater infrastructure. The company provides services to 2.8 million people.
Investment in Aging Water Infrastructure
Potable water supply and wastewater services on a 24x7 basis are essential for maintaining hygiene as well as performing daily chores. However, aging of pipelines and resultant breaks in water mains are primary concerns that may disrupt water services.
Per the findings of the American Society of Civil Engineers, water main breaks occur every two minutes in the United States due to aging of the existing water infrastructure. Pipeline breaks result in the wastage of 6 billion gallons of potable water each day and add to the loss of water utility operators. Per the Water and Wastewater Equipment Manufacturers Association, an estimated $750 billion investment is necessary to maintain and expand drinking water as well as wastewater services to meet demand over the next 20 years.
Water utilities operating in the United States are trying their best to upgrade and maintain the aging waster infrastructure. American Water continues to make investments in its infrastructure to upgrade, enhance and maintain the same. The company has plans to invest $10.4 billion in the 2021-2025 time period and $22-$25 billion in the next decade.
In addition to American Water, water utilities like Essential Utilities (WTRG - Free Report) are making regular investments to upgrade the existing water and wastewater systems. Its long-term plan is to invest nearly $3 billion through 2023 to rehabilitate, and strengthen water as well as natural gas pipeline systems. Another water utility, Middlesex Water (MSEX - Free Report) — under the Water for Tomorrow program — is making regular capital investments to enhance system reliability, resiliency and overall service quality. California Water Service (CWT - Free Report) plans to invest in the range of $270-$300 million in 2021 to strengthen its water and wastewater infrastructure.
Price Performance
Shares of American Water have outperformed the industry in the past year.
Zacks Rank
American Water currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>