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American States Water Company

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American States Water Company’s strength lies in an expanding customer base, extensive water rights and strong credit ratings. The company is yet to expand its customer base as aggressively as some of its peers, who are resorting to inorganic means. This California focused water utility has the opportunity to spread operations via acquisitions. Share price of American States Water has outperformed the return of the broader industry in the last one month. However its major drawback is its dependence on a single state, California, for the majority of its earnings. Plus its highly regulated operations, ongoing drought conditions in the state and risk of water contamination leading to increase in operating costs could adversely impact results.


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