The York Water Co. (YORW) Upgraded to Hold by Zacks Investment Research
The York Water Co. (NASDAQ:YORW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
The York Water (NASDAQ:YORW) traded up 1.39% during midday trading on Wednesday, hitting $29.25. The stock had a trading volume of 9,070 shares. The York Water has a 12-month low of $22.18 and a 12-month high of $33.40. The stock has a 50-day moving average price of $29.17 and a 200 day moving average price of $29.69. The firm has a market cap of $376.42 million, a P/E ratio of 30.34 and a beta of 0.49.
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The York Water (NASDAQ:YORW) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.23 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.23. The York Water had a return on equity of 11.29% and a net margin of 26.27%. The company had revenue of $11.80 million for the quarter, compared to analyst estimates of $12.08 million. During the same quarter in the previous year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities analysts anticipate that The York Water will post $0.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.1555 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, September 28th. The York Water’s dividend payout ratio is presently 63.92%.
A number of large investors have recently made changes to their positions in YORW. BlackRock Group LTD acquired a new stake in shares of The York Water during the second quarter worth $108,000. BlackRock Advisors LLC raised its stake in shares of The York Water by 55.1% in the second quarter. BlackRock Advisors LLC now owns 6,161 shares of the company’s stock worth $197,000 after buying an additional 2,189 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of The York Water during the second quarter worth $210,000. Janney Montgomery Scott LLC acquired a new stake in shares of The York Water during the second quarter worth $211,000. Finally, Royal Bank of Canada raised its stake in shares of The York Water by 73.3% in the first quarter. Royal Bank of Canada now owns 7,778 shares of the company’s stock worth $238,000 after buying an additional 3,290 shares in the last quarter. 31.01% of the stock is currently owned by institutional investors.
The York Water Company Profile
The York Water Company is an investor-owned water utility. The Company impounds, purifies and distributes water. The Company owns and operates approximately two wastewater collection and treatment systems. It operates within its franchised territory, which covers over 40 municipalities within York County, Pennsylvania and over nine municipalities within Adams County, Pennsylvania.
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