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Stock Market & Financial Investment News

News Breaks
December 12, 2012
18:21 EDTCTWSConnecticut Water Service 1.475M share Secondary priced at $29.25
Wells Fargo acted as lead book running manager for the offering.
News For CTWS From The Last 14 Days
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November 14, 2014
09:31 EDTCTWSConnecticut Water board approves 2015 capital spending plan
The board approved an overall $55.1M Capital Spending Plan for 2015. The board approved $47.6M for The Connecticut Water Company, the regulated water utility subsidiary that serves about 90,000 customers, or about 300,000 people, in Connecticut. The board also approved $7.5M for The Maine Water, the regulated water utility subsidiary that serves about 32,000 customers, or about 85,000 people, in Maine.The Capital Spending Plan also includes $17.9M in treatment plant and lab improvements. The majority is allocated to a major upgrade at Connecticut Water's Rockville Water Treatment Plant, the Company's oldest surface water treatment plant that went into service in 1970. The Plant will undergo a major treatment technology update utilizing newer Dissolved Air Flotation technology to provide high-quality water to customers more efficiently and effectively. The treatment plant upgrade will ensure that the Company has reliable capacity and system redundancy to meet the water needs of current and future customers in northern Connecticut.
November 10, 2014
08:15 EDTCTWSConnecticut Water subsidiary filed rate increase request
The Maine Water Company, a subsidiary of Connecticut Water Service, has filed a request with the Maine Public Utilities Commission, or MPUC, for an overall increase in annual operating revenues in its largest division. Maine Water is requesting an increase of approximately $1.7M over current revenues of $4.6M in its Biddeford and Saco Division to recover costs of increased capital investment as well as increased operating expenses. The amount requested in the case is $700,000 less in the first year than would otherwise have been required due to adoption of IRS guidance on its repair tax regulations. The increase in revenues is being requested as a 2-year phase-in. If the rate increase request is approved in its entirety, a typical residential customer would see their quarterly water bill increase by $1.53 per month, or about 5c per day, in the first year and an additional $1.79 per month, or about 6c per day, in the second year.
November 7, 2014
12:45 EDTCTWSConnecticut Water reports Q3 EPS 76c, may not compare to one estimate 40c
Reports Q3 revenue $29.41M, may not compare to one estimate $64.81M.

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