American Water WorksAWK
± MixedDemandrelevance
Article mentions drought conditions that could increase water demand, but impact is indirect and uncertain.
Impact on assets 1
Climate Adaptation & Water
American Water WorksTheme Impact 3
Off-coverage companies
Related news
Thailand▲
Phillip keeps Buy rating on WHAUP with 9.45 baht target on data centre water demand
Phillip Securities (Thailand) said in an analysis dated 2 October 2026 that it expects WHA Utilities and Power, or WHAUP, to post normalised third-quarter 2026 profit of about 499 million baht, flat from the same period a year earlier and down slightly by 0.5% from the previous quarter. The result is supported by higher revenue from the solar business as commercial operation dates continue to come on stream, a share of profit from the Gheco-one power plant returning to above-normal levels, and coal prices trending higher than a year earlier. These factors are partly offset by the water business, where volumes rose but recognition of capacity charges remained below the high base of the third quarter of 2025, while the SPP power plant business still faces pressure from higher natural gas costs, with no adjustment to the Ft tariff for industrial power sales during the period. For the water business outlook in the second half of 2026, capacity charges are expected to be lower than in the first half, but data centres will gradually begin operations from the fourth quarter of 2026 through 2027, which should drive a significant acceleration in water usage. The research team also expects normalised profit for the first nine months of 2026 to be about 1.202 billion baht, up 25.3% from the same period a year earlier, on the back of a still-strong power and utilities business. Phillip therefore maintains its Buy rating on WHAUP with a 2027 target price of 9.45 baht per share.
About megatrends
Climate Adaptation & Water › Regulated Water & Wastewater Utilities ▲Demand
WHAUP.BK · Capital · Positive Phillip maintains Buy rating on WHAUP with a 9.45 baht target price, forecasting 9M26 normalised profit up 25.3% year-on-year.
WHAUP.BK · Demand · Positive Data centres gradually beginning operations from Q4 2026 through 2027 should drive a significant acceleration in WHAUP's water usage.
United States▲
Aqua Pennsylvania Buys Ulster Municipal Water Systems for $0.5 Million
Essential Utilities subsidiary Aqua Pennsylvania has acquired the water system assets of the Ulster Municipal Authority in Bradford County for $0.5 million, adding 180 customers to its existing water customer base. Aqua Pennsylvania plans to invest $2 million over the next five years to upgrade the acquired assets, modernizing facilities and replacing aging lines to provide safe, high-quality water for Ulster residents. Essential Utilities has added more than 138,000 customers or equivalent dwelling units and about $570 million of rate base through acquisitions since 2015, and its proposed merger with American Water Works remains targeted for the first quarter of 2027. Signed purchase agreements represent more than 200,000 customers and about $282 million in purchase price, while the active municipal acquisition pipeline is about 400,000 customers. Separately, California Water Service Group has agreed to acquire Nexus Water Group's Nevada and Oregon water and wastewater systems for $218 million, and Select Water Solutions has agreed to acquire Pilot Water Solutions for $700 million plus up to $15 million in contingent consideration.
About megatrends
Climate Adaptation & Water › Regulated Water & Wastewater Utilities ▲Capital
Climate Adaptation & Water › Water Utilities & Infrastructure ▲Capital
Climate Adaptation & Water › Pipe, Stormwater & Smart Metering ▲Capital
WTRG · Capital · Positive Subsidiary Aqua Pennsylvania acquired Ulster Municipal Authority water assets for $0.5 million, adding 180 customers and $2 million planned upgrades.
CWT · Capital · Positive Agreed to acquire Nexus Water Group's Nevada and Oregon water and wastewater systems for $218 million.
Nexus Water Group · Capital · Positive Agreed to sell its Nevada and Oregon water and wastewater systems to California Water Service Group for $218 million.
WTTR · Capital · Positive Agreed to acquire Pilot Water Solutions for $700 million plus up to $15 million in contingent consideration.
AWK · Capital · Neutral Mentioned only as Essential Utilities' proposed merger partner, targeted for Q1 2027; no new development.
United States▲
American Water Works Adds 52,700 Customers, Reaffirms 2026 EPS Guidance
American Water Works added roughly 52,700 customers through regulated acquisitions in the first six months of 2026, including about 47,000 from its Nexus Water Group acquisition completed in June, plus nearly 9,000 customers added organically across existing systems. As of June 30, 2026, the company had 19 pending acquisition agreements representing around 56,600 potential customers, alongside its proposed merger with Essential Utilities. American Water Works plans to invest approximately $3.7 billion in 2026 and $19-$20 billion through 2030, supporting 8-9% rate-base growth through infrastructure investments, regulated acquisitions and organic expansion, and it reaffirmed its 2026 adjusted EPS guidance of $6.02-$6.12. The Zacks Consensus Estimate points to 2026 and 2027 earnings per share increases of 7.98% and 8.27%, respectively, year over year, while the stock trades at a forward 12-month price-to-earnings ratio of 20.03X versus the industry average of 16.02X and carries a Zacks Rank #4 (Sell).
About megatrends
Climate Adaptation & Water › Water Utilities & Infrastructure ▲Capital
Climate Adaptation & Water › Regulated Water & Wastewater Utilities ▲Capital
AWK · Capital · Positive Reaffirmed 2026 adjusted EPS guidance of $6.02-$6.12 and plans $3.7B capex in 2026.
AWK · Demand · Positive Added ~52,700 customers via regulated acquisitions and organic growth, expanding its customer base.
Nexus Water Group · Demand · Positive Its acquisition by American Water Works added about 47,000 customers, cited as a key driver of growth.
WTRG · Capital · Neutral Mentioned only as the counterparty in a proposed merger with American Water Works.
China3
Liantai Environmental Protection plans to sell all equity in Hunan Liantai and Shantou Liantai for 1.611 billion yuan
Liantai Environmental Protection disclosed a major asset sale plan on the evening of September 29, proposing to transfer 100% equity in Hunan Liantai and 100% equity in Shantou Liantai to Shangshi Zhejie, with the counterparty paying in cash. Under the equity transfer agreement signed by both parties that day, the transfer price for Shantou Liantai is 590 million yuan, and for Hunan Liantai is 1.021 billion yuan, totaling 1.611 billion yuan. The transaction constitutes a major asset restructuring but does not constitute a related-party transaction or a backdoor listing. Hunan Liantai and Shantou Liantai were established in April 2026 to consolidate three project companies in the Hunan region and eight project companies plus one wholly owned electromechanical equipment subsidiary in the Shantou region of Guangdong that the listed company plans to sell. After the transaction is completed, the listed company will no longer hold equity in these two companies, but will still hold 15% to 40% stakes in eight companies including Sunan Water and Subei Water, which are controlled subsidiaries of Shantou Liantai. The controlling shareholder of the counterparty Shangshi Zhejie is Shanghai Shangshi Group, and its actual controller is the Shanghai State-owned Assets Supervision and Administration Commission. This acquisition aligns with the expansion strategy of Shanghai Shangshi's water utilities segment. Liantai Environmental Protection said the transaction will help resolve liquidity risks and debt repayment risks, significantly reduce the scale of accounts receivable, and lower the erosion of future earnings by credit impairment losses. As of the end of the second quarter of 2026, the company's book cash was only 31.93 million yuan, while short-term borrowings and non-current liabilities due within one year totaled about 712 million yuan, roughly 22.3 times book cash, with an additional 4.346 billion yuan in long-term borrowings. From the end of 2023 to the end of June 2026, the company's accounts receivable balances were 1.261 billion yuan, 1.654 billion yuan, 2.118 billion yuan, and 2.417 billion yuan respectively, while credit impairment losses rose from 77.2884 million yuan in 2023 to 161.2776 million yuan in 2025, an increase of 108.67%.
About megatrends
Climate Adaptation & Water › Regulated Water & Wastewater Utilities Capital
603797.CG · Capital · Positive Plans to sell 100% equity in Hunan Liantai and Shantou Liantai for 1.611 billion yuan, helping resolve liquidity and debt repayment risks and reduce receivables.
China▲
Guanzhong Ecology-led consortium pre-wins Boshan District sewage treatment project with bid of 104 million yuan
Guanzhong Ecology announced on September 29 that the company, as the lead member of a consortium with Hubei Dingya Construction Group Co., Ltd. and Zibo Water Conservancy Survey and Design Institute Co., Ltd., has been pre-selected as the winner of the Boshan District urban domestic sewage collection, treatment and resource utilization project, namely the second phase of the Xiaofu River comprehensive improvement project in Boshan District, with a bid price of 104 million yuan.
About megatrends
Climate Adaptation & Water › Waste Management & Circular Economy ▲Demand
Climate Adaptation & Water › Water Treatment & Flow Technology ▲Demand
Climate Adaptation & Water › Regulated Water & Wastewater Utilities ▲Demand
Hubei Dingya Construction Group Co., Ltd. · Demand · Positive Named consortium member on the pre-won 104 million yuan Boshan sewage treatment project bid
Zibo Water Conservancy Survey and Design Institute Co., Ltd. · Demand · Positive Named consortium member on the pre-won 104 million yuan Boshan sewage treatment project bid
Thailand▲
UBA signs contract to manage Din Daeng water quality control plant worth 1,045.78 million baht
Utility Business Alliance Public Company Limited, or UBA, has signed a contract for the operation, maintenance, and management of the Din Daeng water quality control plant with the Bangkok Metropolitan Administration's Drainage Department as the client. The total contract value is 1,045.78 million baht, including value-added tax, with a total operating period of 5 years starting from July 8, 2026. Somchat Sanghitkul, Chief Executive Officer, disclosed that currently about 80% of UBA's work comes from the public sector and about 20% from the private sector. The company believes that growing challenges in water management will lead relevant agencies to place greater emphasis on water management systems, and this will support opportunities for new contracts going forward. As for operating results in the first quarter of 2026, the company reported a net profit of 16.98 million baht on a consolidated basis, an increase of 8.28 million baht, or 95.21%, from the same period last year when net profit was 8.70 million baht. Service revenue on a consolidated basis was 119.61 million baht, an increase of 42.57 million baht, or 55.26%, from the same period last year when revenue was 77.04 million baht. The main driver was revenue from the wastewater treatment business, which rose 41.48 million baht, or 78.22%, to 94.51 million baht.
About megatrends
Climate Adaptation & Water › Regulated Water & Wastewater Utilities ▲Demand
UBA.BK · Demand · Positive UBA signed a 1,045.78 million baht contract to operate and manage the Din Daeng water quality control plant for the Bangkok Metropolitan Administration.