York Water (YORW) Downgraded by BidaskClub

BidaskClub lowered shares of York Water (NASDAQ:YORW) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other analysts have also commented on YORW. ValuEngine raised shares of York Water from a hold rating to a buy rating in a research report on Thursday, November 1st. Boenning Scattergood reaffirmed an outperform rating on shares of York Water in a research report on Thursday, October 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $37.00.

YORW stock opened at $32.51 on Tuesday. The company has a market cap of $426.75 million, a PE ratio of 32.35 and a beta of 0.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.38 and a current ratio of 0.43. York Water has a one year low of $27.45 and a one year high of $35.65.

York Water (NASDAQ:YORW) last released its quarterly earnings results on Friday, November 2nd. The utilities provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $12.70 million for the quarter, compared to analyst estimates of $12.44 million. York Water had a net margin of 27.15% and a return on equity of 10.88%. Analysts forecast that York Water will post 1 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a dividend of $0.173 per share. This represents a $0.69 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from York Water’s previous quarterly dividend of $0.17. York Water’s payout ratio is presently 66.34%.

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of York Water by 22.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 10,157 shares of the utilities provider’s stock valued at $323,000 after buying an additional 1,833 shares during the period. Bank of New York Mellon Corp raised its position in York Water by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 101,583 shares of the utilities provider’s stock valued at $3,089,000 after purchasing an additional 1,848 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in York Water by 10.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,849 shares of the utilities provider’s stock valued at $664,000 after purchasing an additional 2,010 shares during the period. KBC Group NV raised its position in York Water by 4.5% in the second quarter. KBC Group NV now owns 54,312 shares of the utilities provider’s stock valued at $1,727,000 after purchasing an additional 2,329 shares during the period. Finally, Russell Investments Group Ltd. raised its position in York Water by 22.9% in the third quarter. Russell Investments Group Ltd. now owns 14,935 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 2,786 shares during the period. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

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 together hold up to approximately 2.2 billion gallons of water.

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