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American Water (AWK) Arm to Invest $1M in Cedarhurst Water Mains
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American Water Works (AWK - Free Report) recently announced that its unit, New York American Water, is going to invest $960,000 for improving the water mains in Cedarhurst. The company plans to replace the 3,050 feet of aging water mains with new 8-inch ductile iron main, and five fire hydrants. All these upgrades will ensure increase in water flow for customers and adequate supply of water for fire fighters.
New York American Water regularly invests to upgrade, maintain and expand the existing water and wastewater infrastructure. New York American Water is providing high-quality and reliable water and/or wastewater services to nearly 335,000 people in New York.
Aging Water Infrastructure
Aging of the water and wastewater infrastructure results in frequent water line breaks, which is a primary concern for the water utility operators. The pipeline breaks disrupt the water services and adversely impact the service providers and customers.
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. The pipeline breaks not only increase the cost of water services but also expose it to the possibility of contamination.
Amid pipeline breaks due to aging, water utilities are doing their part in upgrading the old infrastructure. Despite the ongoing investment, some water main breaks occur as small water and wastewater service providers are unable to make timely investments to upgrade the aging infrastructure.
Some large water utilities like 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 between 2021 and 2025 and $22-$25 billion in the next decade.
In addition to American Water, water utility Essential Utilities (WTRG - Free Report) is 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.
Water utility 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. 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.
Price Performance
Shares of American Water have outperformed the industry in the past year.
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American Water (AWK) Arm to Invest $1M in Cedarhurst Water Mains
American Water Works (AWK - Free Report) recently announced that its unit, New York American Water, is going to invest $960,000 for improving the water mains in Cedarhurst. The company plans to replace the 3,050 feet of aging water mains with new 8-inch ductile iron main, and five fire hydrants. All these upgrades will ensure increase in water flow for customers and adequate supply of water for fire fighters.
New York American Water regularly invests to upgrade, maintain and expand the existing water and wastewater infrastructure. New York American Water is providing high-quality and reliable water and/or wastewater services to nearly 335,000 people in New York.
Aging Water Infrastructure
Aging of the water and wastewater infrastructure results in frequent water line breaks, which is a primary concern for the water utility operators. The pipeline breaks disrupt the water services and adversely impact the service providers and customers.
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. The pipeline breaks not only increase the cost of water services but also expose it to the possibility of contamination.
Amid pipeline breaks due to aging, water utilities are doing their part in upgrading the old infrastructure. Despite the ongoing investment, some water main breaks occur as small water and wastewater service providers are unable to make timely investments to upgrade the aging infrastructure.
Some large water utilities like 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 between 2021 and 2025 and $22-$25 billion in the next decade.
In addition to American Water, water utility Essential Utilities (WTRG - Free Report) is 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.
Water utility 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. 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.
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.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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