York Water’s (YORW) Buy Rating Reiterated at Zacks Investment Research

Zacks Investment Research restated their buy rating on shares of York Water (NASDAQ:YORW) in a research report sent to investors on Sunday, Zacks.com reports. Zacks Investment Research currently has a $42.00 price objective on the utilities provider’s stock.

According to Zacks, “The York Water Company impounds, purifies and distributes water. They are regulated by the Pennsylvania Public Utility Commission in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. They must obtain PPUC approval before changing any of the aforementioned procedures. “

Separately, BidaskClub upgraded shares of York Water from a sell rating to a hold rating in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. York Water presently has a consensus rating of Buy and a consensus target price of $39.50.

YORW stock opened at $37.74 on Friday. The stock has a 50-day simple moving average of $37.11 and a two-hundred day simple moving average of $35.31. York Water has a twelve month low of $29.10 and a twelve month high of $39.19. The firm has a market capitalization of $497.87 million, a PE ratio of 36.29 and a beta of 0.17. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 0.74.

York Water (NASDAQ:YORW) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $13.05 million during the quarter, compared to analyst estimates of $12.00 million. York Water had a net margin of 28.21% and a return on equity of 11.06%. On average, equities research analysts anticipate that York Water will post 1.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.173 dividend. This represents a $0.69 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, September 27th. York Water’s dividend payout ratio (DPR) is 66.35%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in York Water by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 441,459 shares of the utilities provider’s stock worth $14,153,000 after buying an additional 2,535 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in York Water by 11,582.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,687 shares of the utilities provider’s stock valued at $92,000 after acquiring an additional 2,664 shares during the last quarter. Janney Montgomery Scott LLC raised its position in York Water by 3.0% during the first quarter. Janney Montgomery Scott LLC now owns 12,618 shares of the utilities provider’s stock valued at $433,000 after purchasing an additional 369 shares in the last quarter. Penn Capital Management Co. Inc. bought a new stake in York Water during the first quarter worth about $3,074,000. Finally, Cadence Capital Management LLC boosted its holdings in shares of York Water by 1.8% in the 1st quarter. Cadence Capital Management LLC now owns 36,786 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 635 shares in the last quarter. 37.12% of the stock is currently owned by institutional investors and hedge funds.

York Water Company Profile

The York Water Company impounds, purifies, and distributes drinking water. It also owns and operates three wastewater collection systems and two wastewater treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. In addition, the company has a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns seven wells that supply water to its customers in Carroll Valley Borough and Cumberland Township, Adams County.

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