Company Overview and News

 
American Water Files for Rate Hike to Regain Capex in Indiana

2018-09-17 zacks
American Water Works Company (AWK - Free Report) recently announced that its subsidiary, Indiana American Water, has submitted a proposal with the Indiana Utility Regulatory Commission (IURC) to increase its water service rates in the communities it caters to, across Indiana. On approval, the company will be able to recover $542 million of ongoing infrastructure investments that it has adopted to maintain and enhance water service, quality, system reliability and fire protection capabilities for customers.
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Global Water Resources to Expand in Arizona Via Acquisition

2018-09-14 zacks
Global Water Resources, Inc. (GWRS - Free Report) has signed an agreement to acquire Red Rock Utilities, a provider of water and wastewater services in the Pinal and Pima counties of Arizona. Both these countries in Arizona have significant growth potential. During June, the company entered into an agreement to acquire a Class D water and wastewater utility in Arizona. These acquisitions will expand Global Water Resources’ service area by 9 square miles and add nearly 1,654 connections to its existing customer base.
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American Water (AWK) Expands in Lawson Via $4M Acquisition

2018-09-03 zacks
American Water Works (AWK - Free Report) recently announced that its unit Missouri American Water has acquired City of Lawson Water and Wastewater Systems for $4 million. This acquisition will add 968 new water customers and 913 sewer customers to the company’s existing 480,000 state-wide customers in Missouri. Water and wastewater customers in Lawson will receive their first statement from Missouri American Water during the first week of October, and will be charged the existing inside city water and wastewater rates.
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PURA Approves Rate Settlement Agreement for Connecticut Water

2018-08-20 globenewswire
CLINTON, Conn., Aug. 20, 2018 (GLOBE NEWSWIRE) -- On Aug. 15, 2018, the Connecticut Water Company (“the Company”) received unanimous approval from the Connecticut Public Utilities Regulatory Authority (PURA) on a Settlement Agreement that was developed between the Company and the state’s consumer advocate at the Office of the Consumer Counsel (OCC).
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Connecticut Water Service, Inc. Declares Cash Dividend

2018-08-17 globenewswire
CLINTON, Conn., Aug. 17, 2018 (GLOBE NEWSWIRE) -- Connecticut Water Service, Inc. (Nasdaq: CTWS) (the “Company”) today announced that its board of directors declared a quarterly cash dividend of $0.3125 per common share payable on Sept. 18, 2018, for shareholders of record as of Sept. 4, 2018. This quarterly dividend remains unchanged from the previous quarter and represents an annualized dividend of $1.
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SJW Group CEO says utility rejects CalWater's $1.45 bln takeover bid

2018-08-17 reuters
NEW YORK (Reuters) - SJW Group (SJW.N) has rejected the latest takeover offer from California Water Service Group (CWT.N), SJW’s chief executive officer told Reuters on Friday, as it remains focused on completing its acquisition of Connecticut Water Service Inc.
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Connecticut Water Service Inc. Reports Second Quarter 2018 Results

2018-08-09 globenewswire
Connecticut Water Service, Inc. (Nasdaq: CTWS; the Company or CTWS) announced net income of $4.7 million, or earnings per basic common share (EPS) of $0.39, for the second quarter of 2018 on total revenues of $31.5 million. Total revenues include revenues generated by the Company’s three business segments: Water Operations, Service and Rentals, and Real Estate. In the second quarter of 2017, the Company had net income of $8.
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SJW Group & Connecticut Water Amend Deal to All-Cash Affair

2018-08-08 zacks
SJW Group (SJW - Free Report) and Connecticut Water Service announced an amendment to the merger agreement, which was initially announced on Mar 15, 2018. (Read more: Connecticut Water Service to Merge With SJW Group). Per the amendment, the previously announced merger agreement from a stock-for-stock transaction will now be an all-cash acquisition. Details of the Amendment Per the amendment, each shareholder of Connecticut Water Service will receive $70 for each share, bringing the total value of the deal to $1.
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Deals of the day-Mergers and acquisitions

2018-08-07 reuters
Aug 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:
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3
SJW Group makes $1.1 bln all-cash offer for Connecticut Water

2018-08-06 reuters
NEW YORK (Reuters) - SJW Group (SJW.N) and Connecticut Water Service Inc (CTWS.O) said on Monday they were changing from a merger to an acquisition agreement, with SJW offering to buy the New England utility for $1.1 billion in cash instead of combining stock.
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51
Tracking Tweedy Browne Portfolio - Q2 2018 Update

2018-08-06 seekingalpha
The largest five individual stock positions are Cisco Systems, Baidu Inc., Berkshire Hathaway, Alphabet, and Johnson & Johnson and they account for ~49% of the portfolio.
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3
SJW Group and Connecticut Water File New Application with Connecticut Public Utilities Regulatory Authority for Approval of Merger of Equals

2018-07-20 globenewswire
SJW Group (NYSE: SJW) and Connecticut Water Service, Inc. (NASDAQ: CTWS) (“Connecticut Water”) today announced that on Wednesday, July 18, 2018 they submitted a new application for the approval of their merger of equals, with the Connecticut Public Utilities Regulatory Authority (“PURA”).
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American Water's (AWK) Unit to Acquire Roxbury Water Company

2018-07-20 zacks
American Water Works (AWK - Free Report) announced that its unit New Jersey American Water has entered into an agreement to acquire Roxbury Water Company, which is based in Morris County, NJ. This acquisition is subject to approval from the New Jersey Board of Public Utilities and will increase the customer base of New Jersey American Water by 3,900. New Jersey American Water already provides services to 623,000 water customers as well as 34,000 wastewater customers in New Jersey and operates 8,900 miles of pipeline (water and wastewater) in the state.
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Connecticut Water rejects revised takeover offer from Eversource

2018-07-13 reuters
July 13 (Reuters) - Connecticut Water Service Inc rejected a revised takeover offer from Eversource Energy, according to regulatory filings from both companies on Friday, insisting it would consider abandoning its planned merger with another utility only for a much higher offer.
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1
American Water (AWK) Unit Files to Recover $15.4M Investment

2018-06-29 zacks
American Water Works Company (AWK - Free Report) announced that its subsidiary Maryland American Water has filed an application with the Maryland Public Service Commission (PSC) for water rate increases. The rates, if approved by PSC, will allow it to recover $15.4 million investment made by the company to construct a water impoundment and intake, which will cater to the customers in Bel Air and parts of Harford County.
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