Zacks: York Water Co (YORW) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of York Water Co (NASDAQ:YORW) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 12-month consensus price objective of $35.00 for the company and are expecting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given York Water an industry rank of 88 out of 257 based on the ratings given to its competitors.

Several equities analysts have recently commented on the stock. BidaskClub cut shares of York Water from a “sell” rating to a “strong sell” rating in a report on Friday, September 21st. ValuEngine upgraded shares of York Water from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Boenning Scattergood restated an “outperform” rating on shares of York Water in a report on Thursday, October 11th.

Hedge funds have recently added to or reduced their stakes in the stock. Cutler Group LP lifted its stake in shares of York Water by 214.5% in the 3rd quarter. Cutler Group LP now owns 5,494 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 3,747 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of York Water in the 3rd quarter valued at $225,000. MetLife Investment Advisors LLC lifted its stake in shares of York Water by 48.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 9,953 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 3,258 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of York Water by 22.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,157 shares of the utilities provider’s stock valued at $323,000 after purchasing an additional 1,833 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of York Water in the 3rd quarter valued at $378,000. 35.09% of the stock is owned by institutional investors and hedge funds.

Shares of York Water stock traded up $0.38 on Tuesday, hitting $33.12. 24,207 shares of the company traded hands, compared to its average volume of 13,120. The company has a quick ratio of 0.38, a current ratio of 0.43 and a debt-to-equity ratio of 0.64. York Water has a 12-month low of $27.45 and a 12-month high of $39.00. The stock has a market cap of $428.31 million, a P/E ratio of 32.79 and a beta of 0.20.

York Water (NASDAQ:YORW) last posted its quarterly earnings results on Friday, November 2nd. The utilities provider reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. York Water had a net margin of 27.15% and a return on equity of 10.88%. The business had revenue of $12.70 million for the quarter, compared to analysts’ expectations of $12.44 million. On average, equities research analysts expect that York Water will post 1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a $0.173 dividend. This represents a $0.69 annualized dividend and a dividend yield of 2.09%. The ex-dividend date 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%.

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 together hold up to approximately 2.2 billion gallons of water.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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