The York Water Co. (NASDAQ:YORW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $37.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 9.96% from the stock’s current price.

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) opened at 33.65 on Wednesday. The firm’s 50-day moving average price is $30.52 and its 200 day moving average price is $29.79. The York Water has a 12-month low of $22.81 and a 12-month high of $33.95. The firm has a market cap of $432.10 million, a P/E ratio of 34.76 and a beta of 0.47.

The York Water (NASDAQ:YORW) last announced its earnings results on Thursday, November 3rd. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The York Water had a return on equity of 11.17% and a net margin of 26.25%. The business had revenue of $12.60 million for the quarter, compared to the consensus estimate of $12.50 million. During the same period in the prior year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts forecast that The York Water will post $0.95 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC purchased a new position in shares of The York Water during the first quarter worth about $252,000. Creative Planning boosted its position in shares of The York Water by 33.3% in the second quarter. Creative Planning now owns 8,000 shares of the company’s stock worth $256,000 after buying an additional 2,000 shares during the period. Strs Ohio boosted its position in shares of The York Water by 6.1% in the second quarter. Strs Ohio now owns 22,500 shares of the company’s stock worth $720,000 after buying an additional 1,300 shares during the period. Bank of New York Mellon Corp boosted its position in shares of The York Water by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 123,414 shares of the company’s stock worth $3,954,000 after buying an additional 5,965 shares during the period. Finally, Swiss National Bank purchased a new position in shares of The York Water during the second quarter worth about $567,000. 31.56% of the stock is currently owned by institutional investors.

About The York Water

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.

5 Day Chart for NASDAQ:YORW

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