California American Water to acquire Meadowbrook Water California American Water has entered a binding memorandum of understanding to acquire Meadowbrook Water's operating assets and to assume responsibility for providing domestic water services within Meadowbrook’s service area in Merced County. Meadowbrook is an investor-owned Class C Water Utility, regulated by the California Public Utilities Commission. Meadowbrook Water and California American Water anticipate filing an application in fall of this year seeking approval from the CPUC. Final transfer of Meadowbrook’s operations to California American Water is expected to take place in the spring of 2017.
Badger Meter upgraded to Outperform from Neutral at Baird Baird analyst Richard Eastman upgraded Badger Meter (BMI) to Outperform saying the company's three year contract win with American Water (AWK) is very positive. Eastman raised his price target for the shares to $63 from $59 ahead of the company's Q4 results on Friday.