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New Jersey American Water : Investing $4.4 Million in Essex County

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11/10/2017 | 04:00pm CEST

New Jersey American Water began work this month on two water infrastructure improvements, investing $4.4 million within its service areas of Millburn and West Orange. The approximate 8,640 feet of new pipe replaces water main that has reached the end of its useful life and will be replaced with new ductile iron pipes.

New Jersey American Water’s qualified contractor Montana Construction will begin work next week in West Orange, weather permitting, replacing approximately 1,640 feet of aging 6-inch main that was installed in the 1950s with new 8-inch ductile iron main along Porter Road, from Pleasant Valley Way to end of the roadway. Work hours will be from 7:30 a.m. to 4:30 p.m., Monday through Friday.

In addition, New Jersey American Water’s qualified contractor Vollers Excavating & Construction, Inc. this month will begin to replace approximately 7,000 feet of aging 24-inch water main that was installed in the 1910s with new 30-inch ductile iron main along Parsonage Hill Road, from White Oak Ridge Road to Old Short Hills Road. In addition, Vollers Excavating & Construction be installing a new 8-inch main along Parsonage Hill Road, from Long Hill Drive to Denman Court, that will run parallel to the 30-inch main, and customers along that section of road will be connected to the new 8-inch main. Work hours will be from 9 a.m. to 4 p.m., Monday through Friday.

Construction on weekends and after hours is not expected for either project unless required to maintain project schedule and both projects should be completed by the end of December. Final street restoration in West Orange will be completed in the fall of 2018 and final street restoration in Millburn will be completed by Essex County in the summer of 2018.

“New Jersey American Water places a high value on our proactive replacement program, as it helps us improve water quality and service and makes our systems more resilient to potential disruptions in the future,” stated Tom Shroba, senior director, North Operations. “These projects in Millburn and West Orange are a continuation of the critical investment for the company to provide our customers with safe, reliable water service. By constantly upgrading our infrastructure, we’re planning to keep it that way,”

New Jersey American Water values the safety of its workers and advises drivers and pedestrians to take caution in the vicinity of work sites.

Visit www.newjerseyamwater.com to learn more about New Jersey American Water’s multimillion dollar program to accelerate the renewal of water infrastructure that is reaching the end of its useful life in more than 100 communities across the state and to use the newly added infrastructure upgrade map located under Water Quality, System Updates.

New Jersey American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high quality and reliable water and/or wastewater services to approximately 2.7 million people. More information can be found at newjerseyamwater.com. With a history dating back to 1886, American Water (NYSE: AWK) is the largest and most geographically diverse publicly traded U.S. water and wastewater utility company. The company employs 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 47 states and Ontario, Canada. More information can be found by visiting www.amwater.com.

© Business Wire 2017
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Financials ($)
Sales 2018 3 420 M
EBIT 2018 1 173 M
Net income 2018 600 M
Debt 2018 8 538 M
Yield 2018 1,99%
P/E ratio 2018 27,24
P/E ratio 2019 25,61
EV / Sales 2018 7,13x
EV / Sales 2019 6,89x
Capitalization 15 835 M
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Technical analysis trends AMERICAN WATER WORKS COMPA
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 93,1 $
Spread / Average Target 3,4%
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Susan N. Story President, Chief Executive Officer & Director
Karl F. Kurz Chairman
Walter J. Lynch Chief Operating Officer & Executive Vice President
Linda G. Sullivan CFO, Principal Accounting Officer & EVP
Radhakrishnan Swaminathan Chief Technology & Information Officer, SVP
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