Aqua America Inc.
) subsidiary Aqua Pennsylvania Inc. announced that it will invest
approximately $239 million in 2013 to upgrade its infrastructure.
Per the capital spending program, the company will repair and
restore its water and wastewater arrangements as well as replace
old distribution equipment.
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Aqua America will allocate $185 million, $16 million, $13
million, $12 million, $10 million and $2.5 million, to improve
its properties in Southeastern Pennsylvania, Roaring Creek,
Honesdale, Shenango, White Haven and Susquehanna operating
This infrastructure upgrade program will enable Aqua America to
provide uninterrupted services to its customers and strengthen
system competence. These factors will subsequently improve
reliability, consumer confidence, public safety and also maintain
the state as well as federal water quality regulations.
The company invested $348 million for infrastructure improvements
of its regulated operations under its full-year 2012 capital
It is evident from Aqua America's capital spending program that
the company currently intends to upgrade its water distribution
assets and installation of modern systems. A couple of days ago,
the company invested $1.6 million primarily for its two main
replacement projects to improve system reliability and water
Aqua America's fourth-quarter 2012 net cash from operating
activities was $368.4 million and cash balance as of Dec 31, 2012
was $5.5 million. We believe that Aqua America's financial
position along with strategic assets divesture encourages it to
follow steady infrastructure development activities.
Bryn Mawr, PA.-based Aqua America is a publicly traded water
utility company. It serves approximately 3 million residents in
Florida, Georgia, Indiana, Illinois, New Jersey, North Carolina,
Ohio, Pennsylvania, Texas and Virginia.
Aqua America currently has a Zacks Rank #1 (Strong Buy). Other
stocks from the sector that are presently performing well include
Brookfield Infrastructure Partners L.P.
Otter Tail Corporation
) with Zacks Rank #1 (Strong Buy), and
American States Water Company
) with Zacks Rank #2 (Buy).