H2O America postpones San Jose Water's cost of capital submission.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 19 2025
0mins
Should l Buy HTO?
Approval of Cost of Capital Filing Deferral: H2O America’s subsidiary, San Jose Water Company, along with three other California water utilities, received approval from the California Public Utilities Commission to defer their 2026 Cost of Capital filings to May 1, 2027.
Previous Deferrals Granted: The Joint Parties had previously requested and received one-year deferments for their COC filings in 2025 and 2026, which helps reduce administrative costs for both the utilities and the CPUC staff.
Impact on Customers: San Jose Water Company President, Tanya Moniz-Witten, stated that this approval provides greater clarity and stability for customers through 2027.
Confidence in Future Success: The company expressed appreciation for the CPUC's support and is optimistic that this decision positions them well for continued success.
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Analyst Views on HTO
Wall Street analysts forecast HTO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HTO is 61.00 USD with a low forecast of 57.00 USD and a high forecast of 66.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 53.600
Low
57.00
Averages
61.00
High
66.00
Current: 53.600
Low
57.00
Averages
61.00
High
66.00
About HTO
H2O America, formerly SJW Group, is a national investor-owned network of local water and wastewater utilities for the purpose of delivering clean, high-quality water to the communities. The Company has four regional water utilities, such as Connecticut Water, Maine Water, San Jose Water, and Texas Water. The Company serves approximately 1.6 million people across the country.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Yield Performance: The forward yield of 3.36% not only attracts income-seeking investors but also enhances market interest in H2O's stock, positioning it as a favorable investment choice.
- Payment Schedule: The dividend will be payable on March 2, with a record date of February 9 and an ex-dividend date also on February 9, ensuring shareholders receive timely returns.
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- Dividend Increase: H2O America has declared a quarterly cash dividend of $0.44 per share, representing a 4.8% increase over the December 2025 dividend, reflecting the company's confidence in its long-term growth strategy.
- Consistent Payment Record: The company has increased its annual dividend for 58 consecutive years and has paid dividends for over 80 years, demonstrating stability and reliability in shareholder returns.
- Infrastructure Investment: H2O America is focused on infrastructure improvements to ensure high-quality water delivery, which not only enhances service quality but also strengthens the company's community responsibility and image.
- Service Coverage: Through its four regional water utilities, the company serves over 1.6 million people nationwide, committed to providing clean, high-quality water to ensure public health and vibrant communities.
See More
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- Water Assistance Program: The newly introduced Water Residential Assistance Program (WRAP) offers a 22% discount on water bills for eligible low-income customers, aligning with Maine's recent water affordability legislation to support the most vulnerable customer segments.
- Infrastructure Investment: The unified rate structure will provide a more efficient regulatory framework for Maine Water to make essential infrastructure investments statewide, enhancing the reliability of water services and customer satisfaction, ensuring the company's sustainable growth in the future.
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- Improved Financial Performance: H2O America reported $240.6 million in revenue for Q3 2025, an 8.5% increase from the previous year, with net income rising from $38.7 million to $45.1 million, indicating sustained profitability.
- Market Expansion Potential: The company is expanding its presence in Texas through acquisitions, which is expected to further boost revenue, while its 3.24% dividend yield provides a stable source of passive income for investors.
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- Market Trend Observation: The stock has experienced significant volatility over the past year, with the current price near the 52-week median, which may influence investor buying decisions, especially amid mixed performance in the energy sector.
- Technical Indicator Analysis: HTO's stock price has crossed above its 200-day moving average, suggesting a potential upward trend in the short term, which serves as a positive signal for investors and may attract more capital inflow.
- Investor Sentiment Assessment: Although the current price is below the 52-week high, it remains above the low, indicating a cautiously optimistic market sentiment towards HTO's fundamentals, potentially appealing to value-seeking investors.
See More
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- Asset Valuation Completed: H2O America's Texas Water Company (TWC) has received the fair market value appraisal of $483.6 million for Quadvest LP assets from PUCT-appointed appraisers, marking a significant milestone in the acquisition process.
- Acquisition Plan Progressing: TWC plans to file a Sale-Transfer-Merger application with the PUCT by mid-January to seek approval for the acquisition of Quadvest assets, with the transaction expected to close by mid-2026.
- Business Integration Expectations: This acquisition is set to enhance TWC's rate base, which is anticipated to yield higher revenues and market share, further solidifying its position in the Houston metro area.
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See More
H2O Declares 4.8% Increase in Quarterly Dividend
- Dividend Increase: H2O has declared a quarterly dividend of $0.44 per share, representing a 4.8% increase from the previous $0.42, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns.
- Yield Performance: The forward yield of 3.36% not only attracts income-seeking investors but also enhances market interest in H2O's stock, positioning it as a favorable investment choice.
- Payment Schedule: The dividend will be payable on March 2, with a record date of February 9 and an ex-dividend date also on February 9, ensuring shareholders receive timely returns.
- Future Outlook: Amid increased investments in Texas and M&A activity, H2O has narrowed its 2025 EPS guidance to a range of $2.95 to $3, reflecting the company's confidence in future growth prospects.
See More
H2O America Declares 4.8% Increase in Quarterly Dividend
- Dividend Increase: H2O America has declared a quarterly cash dividend of $0.44 per share, representing a 4.8% increase over the December 2025 dividend, reflecting the company's confidence in its long-term growth strategy.
- Consistent Payment Record: The company has increased its annual dividend for 58 consecutive years and has paid dividends for over 80 years, demonstrating stability and reliability in shareholder returns.
- Infrastructure Investment: H2O America is focused on infrastructure improvements to ensure high-quality water delivery, which not only enhances service quality but also strengthens the company's community responsibility and image.
- Service Coverage: Through its four regional water utilities, the company serves over 1.6 million people nationwide, committed to providing clean, high-quality water to ensure public health and vibrant communities.
See More
Maine Water Company’s Unified Rate Agreement Approved, Enhancing Customer Savings
- Unified Rate Agreement: The stipulation agreement between Maine Water Company and the Office of Public Advocate, approved by the Maine Public Utilities Commission, marks a significant step in enhancing operational efficiency and customer service.
- Customer Cost Impact: The new agreement consolidates ten different rate districts into a single unified rate, set to take effect on February 1, 2026, with transitional rates resulting in monthly water bills for typical residential customers varying from a decrease of $3.23 to an increase of $4.94, aimed at alleviating financial burdens on customers.
- Water Assistance Program: The newly introduced Water Residential Assistance Program (WRAP) offers a 22% discount on water bills for eligible low-income customers, aligning with Maine's recent water affordability legislation to support the most vulnerable customer segments.
- Infrastructure Investment: The unified rate structure will provide a more efficient regulatory framework for Maine Water to make essential infrastructure investments statewide, enhancing the reliability of water services and customer satisfaction, ensuring the company's sustainable growth in the future.
See More
Ausbil Invests $2.6 Million in H2O America Shares
- New Investment Position: Ausbil acquired 53,119 shares of H2O America for $2.6 million in Q4 2025, increasing its reportable assets by 1.48% in the 13F filing, reflecting confidence in the water utility sector.
- Improved Financial Performance: H2O America reported $240.6 million in revenue for Q3 2025, an 8.5% increase from the previous year, with net income rising from $38.7 million to $45.1 million, indicating sustained profitability.
- Market Expansion Potential: The company is expanding its presence in Texas through acquisitions, which is expected to further boost revenue, while its 3.24% dividend yield provides a stable source of passive income for investors.
- Attractive Valuation: Despite a 6% stock price increase in early 2026, H2O America's P/E ratio of 16.6 is lower than its five-year average, suggesting the stock is attractively priced, potentially influencing Ausbil's decision to invest.
See More
HTO Stock Fluctuations: 52-Week Low at $43.75, High at $57.17
- Stock Price Analysis: HTO's 52-week low is $43.75, with a high of $57.17, and the last trade at $50.34 indicates price fluctuations within this range, reflecting market caution regarding the stock.
- Market Trend Observation: The stock has experienced significant volatility over the past year, with the current price near the 52-week median, which may influence investor buying decisions, especially amid mixed performance in the energy sector.
- Technical Indicator Analysis: HTO's stock price has crossed above its 200-day moving average, suggesting a potential upward trend in the short term, which serves as a positive signal for investors and may attract more capital inflow.
- Investor Sentiment Assessment: Although the current price is below the 52-week high, it remains above the low, indicating a cautiously optimistic market sentiment towards HTO's fundamentals, potentially appealing to value-seeking investors.
See More
H2O America (HTO) Announces $483.6M Fair Market Value for Quadvest Acquisition
- Asset Valuation Completed: H2O America's Texas Water Company (TWC) has received the fair market value appraisal of $483.6 million for Quadvest LP assets from PUCT-appointed appraisers, marking a significant milestone in the acquisition process.
- Acquisition Plan Progressing: TWC plans to file a Sale-Transfer-Merger application with the PUCT by mid-January to seek approval for the acquisition of Quadvest assets, with the transaction expected to close by mid-2026.
- Business Integration Expectations: This acquisition is set to enhance TWC's rate base, which is anticipated to yield higher revenues and market share, further solidifying its position in the Houston metro area.
- Strategic Implications: Through this acquisition, H2O America demonstrates its intent to expand in the Texas water market, which is expected to enhance the company's competitiveness in future water management and service delivery.
See More
