H2O America (HTO)
Operates regulated water utilities across California, Connecticut, Maine, and Texas.
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Supplies regulated drinking water through local utilities in California, Connecticut, Maine, and Texas, with smaller wastewater and contract-service operations. Revenue comes primarily from state-approved customer rates, tying infrastructure returns to regulatory recovery.
Produces, purchases, treats, stores, and distributes drinking water through San Jose Water, Connecticut Water, Maine Water, and Texas Water. The regulated network serves communities in California, Connecticut, Maine, and Texas, with wastewater service in parts of Connecticut and Texas. Water Utility Services is the sole reportable segment.
Keeps regional utility brands and operations local while funding mains, treatment, storage, and supply systems. Contract operations, municipal water-service arrangements, protection plans, and property holdings form a small Other Services business. Customer revenue is set through state-approved rates, making infrastructure returns dependent on commission decisions and the timing of cost recovery. Water supply, weather-sensitive demand, drinking-water rules, and system reliability also shape operations.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | Seaport Global | Reiterate | Rating: —Target: — | Target: $67 |
| Jul 29, 2026 | BTIG | Target | Target: $67 | Target: $70 |
| Jul 29, 2026 | Robert W. Baird | Target | Target: — | Target: $72 |
| Jul 23, 2026 | BTIG | Reiterate | Rating: —Target: $61 | Target: $67 |
| Jul 15, 2026 | Barclays | Reiterate | Rating: —Target: $63 | Target: $67 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $104.1M · Total debt $1.89B · Total assets $5.44B · Shareholders' equity $1.84B
- Revenue
- $210.5M
- Operating income
- $42.8M
- Net income
- $26.6M
HistoryDividendAnnual yield
| Insiders | 0.43% | 178.7K shares | |
|---|---|---|---|
| 16 holders · as of Aug 3, 2026 | |||
| Strategic holders | 31.66% | 13.25M shares | |
| 3 holders · as of Jul 8, 2026 | |||
| Other | 67.91% | 28.43M shares | |
| remainder | |||
41.86M company shares as of Sep 22, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Strategic | 14.41% | 6.03M | filed Apr 27, 2026 |
ATLAS Infrastructure Partners (UK) Ltd.Strategic10 percent owner | 11.03% | 4.62M | filed Jul 8, 2026 |
Future Fund Board of GuardiansStrategic | 6.22% | 2.60M | filed Mar 6, 2026 |
Andrew F. WaltersInsiderdirector, officer: Chief Executive Officer | 0.06% | 26,461 | filed Jul 6, 2026 |
A. Kristen JohnsonInsiderofficer: Chief Administrative Officer | 0.04% | 18,021 | filed Mar 3, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 7, 2026 | ATLAS Infrastructure Partners (UK) Ltd. | 10 percent owner | +2,784 | $62.03 |
| Jul 1, 2026 | ATLAS Infrastructure Partners (UK) Ltd. | 10 percent owner | −1,686 | $60.74 |
| Jul 1, 2026 | ATLAS Infrastructure Partners (UK) Ltd. | 10 percent owner | +2,132 | $60.76 |
| May 29, 2026 | ATLAS Infrastructure Partners (UK) Ltd. | 10 percent owner | −1,435 | $57.52 |
| May 29, 2026 | ATLAS Infrastructure Partners (UK) Ltd. | 10 percent owner | +31,001 | $57.62 |
- American Water Works
Largest U.S. regulated water and wastewater benchmark
- Essential Utilities
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- California Water Service Group
Closest California and Texas water-utility peer
- American States Water
California water utility plus military-base services overlap
- Middlesex Water
Northeast regional water and wastewater utility peer
- York Water
Pennsylvania local-monopoly water and wastewater peer
- Artesian Resources
Delmarva water and wastewater utility peer
- Global Water Resources
Arizona growth-market water and recycled-water peer
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| H2O America | $63.26 | +1.03% | $2.62B | 22.0 | 23.1 | 3.2 | +6.2% |
| American Water Works | $134.42 | +0.34% | $26.62B | 23.2 | 22.0 | 5.0 | +6.2% |
| Essential Utilities | $40.63 | +0.36% | $11.48B | 20.7 | 17.6 | 4.5 | +3.1% |
| California Water Service Group | $47.45 | +0.39% | $2.92B | 21.3 | 18.2 | 2.8 | +16.5% |
| American States Water | $85.26 | +0.48% | $3.33B | 23.2 | 23.0 | 4.8 | +11.2% |
| Middlesex Water | $55.28 | +0.09% | $1.04B | 21.2 | 21.0 | 5.0 | +14.3% |
| York Water | $32.29 | +0.31% | $521.8M | 20.0 | 19.9 | 87.9 | +22.5% |
| Artesian Resources | $34.41 | +0.05% | $355.1M | 15.0 | 14.8 | 3.0 | +7.4% |
| Global Water Resources | $8.30 | −1.34% | $241.9M | 76.4 | 74.3 | 4.0 | +24.8% |
| Median | 21.3 | 20.5 | 4.6 | +12.7% |