American Water Works Company, Inc. (NYSE:AWK) is among the 12 Best Income Stocks to Buy Now. Barclays lowered their price target on AWK to $122 from $134 and maintained an Underweight rating. The company recently announced a $12 billion all-stock deal with Essential Utilities, making it the largest US water utility transaction on record. The merged company is expected to serve nearly five million customers across 17 states. American Water CEO John C. Griffith will lead the combined company, while Essential’s CEO Christopher H. Franklin will become executive vice chair of the board. Following the merger, the new company plans to review strategic alternatives for its non-water operations, including Peoples Natural Gas. American Water Works Company, Inc. provides drinking water, wastewater, and related services across multiple U.S. states and in Ontario, Canada.

Read more at Yahoo Finance: Utilities Enter ‘Execution and Defense’ Phase as Barclays Lowers AWK Target