York Water (NASDAQ:YORW) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of York Water (NASDAQ:YORW) from a sell rating to a hold rating in a research note published on Friday.

York Water Stock Up 0.6 %

Shares of NASDAQ:YORW opened at $38.98 on Friday. The company has a market cap of $559.17 million, a price-to-earnings ratio of 22.93 and a beta of 0.63. York Water has a fifty-two week low of $33.32 and a fifty-two week high of $41.96. The firm’s 50-day simple moving average is $38.79 and its 200-day simple moving average is $36.99. The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 0.85.

York Water (NASDAQ:YORW) last released its earnings results on Friday, August 2nd. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). The business had revenue of $18.75 million for the quarter, compared to analyst estimates of $19.00 million. York Water had a return on equity of 10.32% and a net margin of 31.27%. As a group, equities research analysts predict that York Water will post 1.43 earnings per share for the current year.

York Water Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.2108 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.84 annualized dividend and a dividend yield of 2.16%. York Water’s payout ratio is currently 49.41%.

Institutional Trading of York Water

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TFO Wealth Partners LLC grew its position in York Water by 17,525.0% during the fourth quarter. TFO Wealth Partners LLC now owns 705 shares of the utilities provider’s stock worth $27,000 after buying an additional 701 shares during the period. CWM LLC raised its stake in York Water by 37.5% during the second quarter. CWM LLC now owns 1,738 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 474 shares during the period. Quadrant Capital Group LLC boosted its holdings in York Water by 42.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,299 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 690 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of York Water in the 4th quarter valued at about $101,000. Finally, Quest Partners LLC acquired a new position in York Water during the second quarter valued at approximately $102,000. Institutional investors and hedge funds own 49.86% of the company’s stock.

About York Water

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.