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MarketScreener Homepage  >  Equities  >  Nyse  >  American Water Works Company, Inc.    AWK

AMERICAN WATER WORKS COMPANY, INC.

(AWK)
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American Water Works : Water Main Improvement Project Begins on Winchester Road

10/19/2020 | 10:10am EST
October 15, 2020

LEXINGTON, Ky., (October 15, 2020) - Kentucky American Water has begun a water main improvement project in Lexington on Winchester Road between Hume Road and Man O War Boulevard. The project, which will total approximately $1.1 million in investment, involves upgrading to a larger size one-and-a-half miles of water main installed in the 1950s. The new waterlines will better accommodate recent and future development in the eastern part of Fayette County.

The project is expected to have minimal traffic impact since construction will be off the roadway, but motorists are still encouraged to be extra cautious when traveling through the work zone for their own safety and for the safety of those working on the project.

This effort is scheduled to conclude by March 2021, depending on weather conditions and other construction factors.

This water main improvement project is among approximately $8 million worth of efforts approved this year by the Kentucky Public Service Commission for Kentucky American Water's new Qualified Infrastructure Program (QIP). The QIP enables the company to replace aging water system infrastructure at a quicker pace before it becomes potentially more problematic and more costly to replace. QIP projects are paid for with the QIP fees collected through customers' monthly water bills. The fee associated with this year's program will add $.36 to the average monthly residential bill.

Kentucky American Water is committed to ongoing efforts to replace water system infrastructure as appropriate in order to provide quality, reliable water service for customers. In addition to QIP projects, the company invests approximately $25 million annually in capital improvements.

Disclaimer

American Water Works Co. Inc. published this content on 15 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2020 14:09:02 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 3 795 M - -
Net income 2020 704 M - -
Net Debt 2020 10 099 M - -
P/E ratio 2020 39,5x
Yield 2020 1,39%
Capitalization 27 970 M 27 970 M -
EV / Sales 2020 10,0x
EV / Sales 2021 9,63x
Nbr of Employees 6 800
Free-Float 96,8%
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Number of Analysts 16
Average target price 156,31 $
Last Close Price 154,30 $
Spread / Highest target 13,4%
Spread / Average Target 1,30%
Spread / Lowest Target -26,8%
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NameTitle
Walter J. Lynch President, CEO, Chief Operating Officer & Director
Karl F. Kurz Non-Executive Chairman
M. Susan Hardwick Chief Financial Officer & Executive Vice President
George F. MacKenzie Independent Director
Julia L. Johnson Independent Director
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