Zacks Investment Research reaffirmed their buy rating on shares of York Water (NASDAQ:YORW) in a research note published on Sunday, Zacks.com reports. Zacks Investment Research currently has a $42.00 price target 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 note on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $39.50.

YORW opened at $37.74 on Friday. The company’s 50-day simple moving average is $37.11 and its two-hundred day simple moving average is $35.31. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.91. The stock has a market capitalization of $497.87 million, a P/E ratio of 36.29 and a beta of 0.17. York Water has a 52-week low of $29.10 and a 52-week high of $39.19.

York Water (NASDAQ:YORW) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $13.05 million during the quarter, compared to analysts’ expectations of $12.00 million. York Water had a net margin of 28.21% and a return on equity of 11.06%. Research analysts forecast that York Water will post 1.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.173 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.83%. York Water’s dividend payout ratio is currently 66.35%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in YORW. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of York Water by 2,848.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,209 shares of the utilities provider’s stock worth $43,000 after buying an additional 1,168 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in York Water during the second quarter valued at $50,000. Bank of Montreal Can lifted its position in York Water by 160.6% during the second quarter. Bank of Montreal Can now owns 1,751 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,079 shares in the last quarter. Bessemer Group Inc. grew its holdings in York Water by 186.7% during the second quarter. Bessemer Group Inc. now owns 2,150 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 1,400 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in York Water by 11,582.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,687 shares of the utilities provider’s stock valued at $92,000 after purchasing an additional 2,664 shares during the period. 37.12% of the stock is 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 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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