American Water Works

1. Regulatory Risks: American Water Works Company is subject to regulatory risk due to the fact that its services are primarily regulated by state and local governments. If these governments decide to alter their regulatory policies, it could have a negative effect on the company's financial performance.

2. Competition and Market Risk: As a water services provider, American Water Works faces strong competition from both public and private providers. Additionally, the market for water services is subject to fluctuations, which could have an adverse effect on American Water Works' financial performance.

3. Financial Risk: As a publicly traded company, American Water Works is exposed to financial risks such as changes in interest rates and other related macroeconomic factors, as well as the possibility of financial downturns in the industry or the economy as a whole.

4. Environmental Risk: The provision of water services is highly dependent on natural resources, and as such, may be susceptible to changes in environmental conditions or related ordinances. These changes could disrupt operations or reduce revenues, ultimately hurting the company's financial performance.

5. Cyber Security Risk: As with many other companies that have invested heavily in digital technologies, American Water Works runs the risk of online security breaches or other malicious activities targeting its customers’ data. This could result in severe reputational damage and financial losses.