<p>水務公司等公用事業行業受到高度監管。這通常使得尋求增長的投資者尋找其他選擇。但在過去幾年中，幾個催化因素使得水基礎設施股票成為有吸引力的增長目標。</p>
<p>長期的案例始於本十年初。在其 2025 年基礎設施報告卡中，美國土木工程師學會對美國水基礎設施的評分在 C-到 D 之間。升級始於 2021 年《基礎設施投資和就業法案》（IIJA）的通過，該法案在五年內為飲用水和廢水相關基礎設施分配了 500 億美元。</p>
<p>獲取 <strong>American Water Works</strong> 的提醒：</p>
<p>這筆支出正在減少。然而，在 2026 年 3 月 17 日，美國內政部宣佈為六個西部州的關鍵水基礎設施項目提供額外的 8.89 億美元資金，稱這筆資金得益於《一項美麗的大法案》。</p>
<p>行業整合正在重塑水務行業。許多小型公用事業缺乏必要的資本進行升級，推動私人投資進入水務和廢水系統。美國有超過 50,000 個社區水系統和 16,000 個廢水處理設施，這一趨勢還有繼續發展的空間。</p>
<p>一個更傳統的催化因素來自於允許水務公司在沒有競爭的情況下運營的監管費率結構。這些公司還受益於自 2024 年秋季以來更加寬鬆的利率政策。</p>
<h2>American Water Works：費率基礎增長與整合主題</h2>
<p>American Water Works NYSE: AWK 是美國最大的上市水務公司之一。</p>
<p>該公司是一個很好的例子，説明了如何從多個水基礎設施催化因素中受益。</p>
<p>首先，American Water Works 的受監管業務的費率基礎以 6% 到 8% 的複合年增長率（CAGR）增長。這意味着州批准的資本投資推動收入增長，幾乎直接流入收益。該公司預計 2026 年全年的每股收益（EPS）為 6.02 美元至 6.12 美元，低端同比增長 5%。</p>
<p>American Water Works 是行業整合的一個例子，其計劃以 191 億美元收購 Essential Utilities，預計將在 2027 年完成。</p>
<p>這種增長尚未在 AWK 中顯現，過去 12 個月股價下跌超過 12%。但分析師預測收益增長為 9.8%。</p>
<p>在投資者等待這一增長的同時，他們將獲得連續 18 年增加的股息，並且在過去五年中平均年增長率超過 8%。</p>
<h2>Essential Utilities：具有 33 年股息記錄的併購機會</h2>
<p>如前所述，Essential Utilities NYSE: WTRG 將在明年被 American Water Works 收購，形成一家將在 17 個州為超過 2000 萬人提供服務的公司，合併後的費率基礎接近 340 億美元。該併購在 2026 年 4 月獲得肯塔基州監管機構的批准，兩家公司股東的投票在 2 月時也獲得了壓倒性通過。</p>
<p>然而，在投資者等待該交易完成的同時，Essential Utilities 仍在獨立運營，並且表現良好。2026 年第一季度收入同比增長 10%，公司確認了全年的前景。</p>
<p>另一個值得關注的原因是股息。Essential Utilities 已連續 32 年提高其分紅。這一記錄經歷了經濟衰退、費率週期，現在又面臨即將到來的企業併購。當前股息收益率約為 3.5%，併購後每股收益增長目標為每年 7% 至 9%，Essential Utilities 為投資者提供了一個在等待中擁有明確催化劑和收入的罕見組合。</p>
<h2>Xylem：水現代化的技術角度</h2>
<p>Xylem NYSE: XYL 不是傳統意義上的水務公司。相反，該公司製造保持水務公司運營的工具。</p>
<p>Xylem 生產泵、處理系統、智能水錶和數據分析平台，水務公司用它們來移動、監測和清潔水。這使其與受監管的壟斷企業有所不同。它在水基礎設施支出增長時也會增長，而不會受到費率案件的滯後影響。</p>
<p>數字證明了這一點。該公司在 2025 年實現了 90 億美元的創紀錄全年收入，調整後的每股收益同比增長 19%。在 2026 年第一季度，報告的每股收益又增長了 14%，管理層預計 2026 年調整後的每股收益為 5.35 美元至 5.60 美元，息税折舊攤銷前利潤率將擴大最多 110 個基點。</p>
<p>XYL 從高點回落了大約 20%，主要是由於謹慎的收入增長前景和一些亞太地區的逆風。但對於希望在不擁有公用事業的情況下接觸結構性水基礎設施建設的投資者來説，XYL 的回調似乎提供了一個有吸引力的入場點。</p>
<h2>你現在應該投資 1000 美元在 American Water Works 嗎？</h2>
<p>在考慮投資 American Water Works 之前，你需要聽聽這個。</p>
<p>MarketBeat 跟蹤華爾街頂級評級和表現最佳的研究分析師及其每天推薦給客户的股票。MarketBeat 已識別出五隻股票，頂級分析師正在悄悄地向客户推薦現在購買，以便在更廣泛的市場注意到之前……而 American Water Works 並不在名單上。</p>
<p>雖然 American Water Works 目前在分析師中獲得了持有評級，但頂級分析師認為這五隻股票更值得購買。</p>
<p>查看這五隻股票</p>

美國水業

賽萊默

WTRG

標普全球水資源指數 ETF - Invesco

水資源 ETF - First Trust

環球水資源 ETF - Invesco

AQWA

水資源 ETF - PowerShares

<p>聯邦支出、行業整合和監管定價結構正在推動水務基礎設施股票的增長，如美國水業（American Water Works，AWK）、Essential Utilities（WTRG）和賽萊默（Xylem，XYL）。基礎設施投資和就業法案為水務基礎設施分配了 500 億美元，並在 2026 年宣佈了額外資金。AWK 計劃收購 WTRG，從而增強其市場影響力。賽萊默作為一家支持水務公司的科技公司，報告了強勁的收入增長。儘管近期股價有所下跌，投資者仍然被這些股票的增長潛力和穩定的股息所吸引</p>

<p>Utilities like water companies are highly regulated industries. This usually keeps growth-oriented investors looking for other options. But in the last few years, several catalysts have made water infrastructure stocks attractive growth targets.</p>
<div class="lb-trans"><p>水務公司等公用事業行業受到高度監管。這通常使得尋求增長的投資者尋找其他選擇。但在過去幾年中，幾個催化因素使得水基礎設施股票成為有吸引力的增長目標。</p>
</div><p>The long-term case started earlier this decade. In its 2025 infrastructure report card, the American Society of Civil Engineers gave the United States water infrastructure grades ranging from a C- to a D. The upgrades began with the passage of the Infrastructure Investment and Jobs Act (IIJA) in 2021, which allocated $50 billion over five years for drinking water and wastewater-related infrastructure.</p>
<div class="lb-trans"><p>長期的案例始於本十年初。在其 2025 年基礎設施報告卡中，美國土木工程師學會對美國水基礎設施的評分在 C-到 D 之間。升級始於 2021 年《基礎設施投資和就業法案》（IIJA）的通過，該法案在五年內為飲用水和廢水相關基礎設施分配了 500 億美元。</p>
</div><p>Get <strong>American Water Works</strong> alerts:</p>
<div class="lb-trans"><p>獲取 <strong>American Water Works</strong> 的提醒：</p>
</div><p>That spending is winding down. However, on March 17, 2026, the U.S. Department of the Interior announced an additional $889 million for critical water infrastructure projects across six Western states, saying the funding was made possible by the One Big Beautiful Bill Act.</p>
<div class="lb-trans"><p>這筆支出正在減少。然而，在 2026 年 3 月 17 日，美國內政部宣佈為六個西部州的關鍵水基礎設施項目提供額外的 8.89 億美元資金，稱這筆資金得益於《一項美麗的大法案》。</p>
</div><p>Industry consolidation is reshaping the water utility sector. Many smaller utilities lack the capital necessary for upgrades, driving private investment into water utilities and wastewater systems. With over 50,000 community water systems and 16,000 wastewater treatment facilities, this trend has room to continue.</p>
<div class="lb-trans"><p>行業整合正在重塑水務行業。許多小型公用事業缺乏必要的資本進行升級，推動私人投資進入水務和廢水系統。美國有超過 50,000 個社區水系統和 16,000 個廢水處理設施，這一趨勢還有繼續發展的空間。</p>
</div><p>A more conventional catalyst comes from a regulated rate structure that allows water utilities to run their business without competition. The companies are also getting a tailwind from an interest rate policy that has been more accommodative since the fall of 2024.</p>
<div class="lb-trans"><p>一個更傳統的催化因素來自於允許水務公司在沒有競爭的情況下運營的監管費率結構。這些公司還受益於自 2024 年秋季以來更加寬鬆的利率政策。</p>
</div><h2>American Water Works: Rate-Base Growth to a Consolidation Theme</h2>
<div class="lb-trans"><h2>American Water Works：費率基礎增長與整合主題</h2>
</div><p>American Water Works NYSE: AWK is one of the largest publicly traded water utility companies in the United States.</p>
<div class="lb-trans"><p>American Water Works NYSE: AWK 是美國最大的上市水務公司之一。</p>
</div><p>The company is a good example of a company that’s benefiting from multiple catalysts in water infrastructure.</p>
<div class="lb-trans"><p>該公司是一個很好的例子，説明了如何從多個水基礎設施催化因素中受益。</p>
</div><p>For starters, American Water Works’ regulated business has a rate base that is growing at a compound annual growth rate (CAGR), between 6% and 8%. That means state-approved capital investments drive revenue increases, which flow almost directly to earnings. The company is guiding to full-year 2026 earnings per share (EPS) of $6.02 to $6.12, a 5% year-over-year (YOY) gain at the low end.</p>
<div class="lb-trans"><p>首先，American Water Works 的受監管業務的費率基礎以 6% 到 8% 的複合年增長率（CAGR）增長。這意味着州批准的資本投資推動收入增長，幾乎直接流入收益。該公司預計 2026 年全年的每股收益（EPS）為 6.02 美元至 6.12 美元，低端同比增長 5%。</p>
</div><p>American Water Works is an example of industry consolidation, with its planned $19.1 billion acquisition of Essential Utilities expected to close in 2027.</p>
<div class="lb-trans"><p>American Water Works 是行業整合的一個例子，其計劃以 191 億美元收購 Essential Utilities，預計將在 2027 年完成。</p>
</div><p>That growth isn’t showing up yet in AWK, which is down over 12% in the last 12 months. But analysts are forecasting 9.8% earnings growth.</p>
<div class="lb-trans"><p>這種增長尚未在 AWK 中顯現，過去 12 個月股價下跌超過 12%。但分析師預測收益增長為 9.8%。</p>
</div><p>While investors wait on that growth, they’ll collect a dividend that has increased for 18 consecutive years and has been increasing at an average annual rate of over 8% in the last five years.</p>
<div class="lb-trans"><p>在投資者等待這一增長的同時，他們將獲得連續 18 年增加的股息，並且在過去五年中平均年增長率超過 8%。</p>
</div><h2>Essential Utilities: A Merger Play With a 33-Year Dividend Streak</h2>
<div class="lb-trans"><h2>Essential Utilities：具有 33 年股息記錄的併購機會</h2>
</div><p>As previously mentioned, Essential Utilities NYSE: WTRG is being acquired by American Water Works next year, creating a company that will serve over 20 million people across 17 states with a combined rate base approaching $34 billion. The merger received Kentucky regulatory approval in April 2026, and shareholder votes from both companies passed overwhelmingly in February.</p>
<div class="lb-trans"><p>如前所述，Essential Utilities NYSE: WTRG 將在明年被 American Water Works 收購，形成一家將在 17 個州為超過 2000 萬人提供服務的公司，合併後的費率基礎接近 340 億美元。該併購在 2026 年 4 月獲得肯塔基州監管機構的批准，兩家公司股東的投票在 2 月時也獲得了壓倒性通過。</p>
</div><p>However, while investors wait for that deal to close, Essential Utilities is still operating on its own and doing it well. Q1 2026 revenue rose 10% YOY, and the company affirmed its full-year outlook.</p>
<div class="lb-trans"><p>然而，在投資者等待該交易完成的同時，Essential Utilities 仍在獨立運營，並且表現良好。2026 年第一季度收入同比增長 10%，公司確認了全年的前景。</p>
</div><p>The other reason to pay attention is the dividend. Essential Utilities has raised its payout for 32 consecutive years. That’s a streak that's survived recessions, rate cycles, and now a pending corporate merger. With a current yield of around 3.5% and a post-merger EPS growth target of 7% to 9% annually, Essential Utilities offers investors a rare combination of a company with a defined catalyst ahead and income while you wait.</p>
<div class="lb-trans"><p>另一個值得關注的原因是股息。Essential Utilities 已連續 32 年提高其分紅。這一記錄經歷了經濟衰退、費率週期，現在又面臨即將到來的企業併購。當前股息收益率約為 3.5%，併購後每股收益增長目標為每年 7% 至 9%，Essential Utilities 為投資者提供了一個在等待中擁有明確催化劑和收入的罕見組合。</p>
</div><h2>Xylem: The Tech Angle on Water Modernization</h2>
<div class="lb-trans"><h2>Xylem：水現代化的技術角度</h2>
</div><p>Xylem NYSE: XYL isn't a water utility in the traditional sense. Rather, the company builds tools that keep water utilities running.</p>
<div class="lb-trans"><p>Xylem NYSE: XYL 不是傳統意義上的水務公司。相反，該公司製造保持水務公司運營的工具。</p>
</div><p>Xylem makes pumps, treatment systems, smart meters, and data analytics platforms that utilities use to move, monitor, and clean water. That positions it differently from regulated monopolies. It grows when water infrastructure spending grows, without the rate-case lag.</p>
<div class="lb-trans"><p>Xylem 生產泵、處理系統、智能水錶和數據分析平台，水務公司用它們來移動、監測和清潔水。這使其與受監管的壟斷企業有所不同。它在水基礎設施支出增長時也會增長，而不會受到費率案件的滯後影響。</p>
</div><p>The numbers back that up. The company posted record full-year 2025 revenue of $9 billion, with adjusted EPS up 19% YOY. In Q1 2026, EPS rose another 14% on a reported basis, and management is guiding for 2026 adjusted EPS of $5.35 to $5.60, with EBITDA margins expanding by up to 110 basis points.</p>
<div class="lb-trans"><p>數字證明了這一點。該公司在 2025 年實現了 90 億美元的創紀錄全年收入，調整後的每股收益同比增長 19%。在 2026 年第一季度，報告的每股收益又增長了 14%，管理層預計 2026 年調整後的每股收益為 5.35 美元至 5.60 美元，息税折舊攤銷前利潤率將擴大最多 110 個基點。</p>
</div><p>XYL has pulled back roughly 20% from its highs, largely on a cautious revenue growth outlook and some Asia-Pacific headwinds. But for investors who want exposure to the structural water infrastructure buildout without owning a utility, XYL's pullback looks like it’s offering an attractive entry point.</p>
<div class="lb-trans"><p>XYL 從高點回落了大約 20%，主要是由於謹慎的收入增長前景和一些亞太地區的逆風。但對於希望在不擁有公用事業的情況下接觸結構性水基礎設施建設的投資者來説，XYL 的回調似乎提供了一個有吸引力的入場點。</p>
</div><h2>Should You Invest $1,000 in American Water Works Right Now?</h2>
<div class="lb-trans"><h2>你現在應該投資 1000 美元在 American Water Works 嗎？</h2>
</div><p>Before you consider American Water Works, you'll want to hear this.</p>
<div class="lb-trans"><p>在考慮投資 American Water Works 之前，你需要聽聽這個。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Water Works wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 跟蹤華爾街頂級評級和表現最佳的研究分析師及其每天推薦給客户的股票。MarketBeat 已識別出五隻股票，頂級分析師正在悄悄地向客户推薦現在購買，以便在更廣泛的市場注意到之前……而 American Water Works 並不在名單上。</p>
</div><p>While American Water Works currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>雖然 American Water Works 目前在分析師中獲得了持有評級，但頂級分析師認為這五隻股票更值得購買。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>查看這五隻股票</p>
</div>

Water Infrastructure: Why This Boring Sector Could Get Exciting

Market Beat

Essential Utilities

Global X Clean Water ETF

水基礎設施：為什麼這個看似乏味的行業可能會變得令人振奮