York Water (NASDAQ:YORW) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of York Water (NASDAQ:YORW) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

A number of other research firms have also recently issued reports on YORW. Janney Montgomery Scott upgraded shares of York Water from a neutral rating to a buy rating and upped their price target for the company from $36.00 to $37.00 in a report on Thursday, May 9th. Zacks Investment Research upgraded shares of York Water from a sell rating to a hold rating in a report on Sunday, July 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $37.00.

York Water stock opened at $38.25 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.82. The company has a market capitalization of $496.33 million, a price-to-earnings ratio of 36.78 and a beta of 0.20. York Water has a one year low of $29.10 and a one year high of $39.19. The company’s fifty day moving average price is $36.15 and its two-hundred day moving average price is $34.82.

York Water (NASDAQ:YORW) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28. York Water had a net margin of 28.21% and a return on equity of 11.06%. The company had revenue of $13.05 million during the quarter, compared to analysts’ expectations of $12.00 million. As a group, sell-side analysts anticipate that York Water will post 1.12 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its stake in shares of York Water by 103.8% in the fourth quarter. Advisor Group Inc. now owns 954 shares of the utilities provider’s stock valued at $31,000 after buying an additional 486 shares during the period. Tortoise Capital Advisors L.L.C. lifted its stake 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 valued at $43,000 after buying an additional 1,168 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of York Water in the second quarter valued at about $50,000. Bank of Montreal Can lifted its stake in shares of York Water by 160.6% in the second quarter. Bank of Montreal Can now owns 1,751 shares of the utilities provider’s stock valued at $63,000 after buying an additional 1,079 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of York Water by 186.7% in the second quarter. Bessemer Group Inc. now owns 2,150 shares of the utilities provider’s stock valued at $77,000 after buying an additional 1,400 shares during the period. Institutional investors own 36.57% of the company’s stock.

About York Water

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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