American Water Works Co. Inc. on Dec. 10 outlined its 10-year capital spending plan and initiated 2020 earnings guidance.

The water and wastewater utility company is targeting 2020 earnings in the range of $3.79 per diluted share to $3.89 per diluted share. It is maintaining its five-year adjusted EPS compound annual growth rate of 7% to 10%.

The company also raised its regulated infrastructure investment by $800 million for the 2020 to 2024 capital plan, and introduced a 10-year capital spending proposal in the range of $20 billion to $22 billion.

American Water also affirmed its 2019 GAAP earnings guidance in the range of $3.57 per diluted share to $3.65 per diluted share. The company's 2019 adjusted earnings guidance is in the range of $3.56 per diluted share to $3.64 per diluted share.