York Water (NASDAQ:YORW) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of York Water (NASDAQ:YORW) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com reports.

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. “

Several other research analysts have also recently weighed in on YORW. BidaskClub raised shares of York Water from a buy rating to a strong-buy rating in a report on Friday, February 22nd. Boenning Scattergood cut shares of York Water from an outperform rating to a neutral rating in a report on Tuesday, March 12th. They noted that the move was a valuation call. Finally, Janney Montgomery Scott cut shares of York Water from a buy rating to a neutral rating and boosted their price objective for the company from $35.00 to $36.00 in a report on Wednesday, March 13th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $37.00.

Shares of NASDAQ YORW opened at $35.17 on Friday. The business has a 50 day moving average price of $34.95. The company has a market capitalization of $455.66 million, a P/E ratio of 33.82 and a beta of 0.22. York Water has a 52-week low of $28.95 and a 52-week high of $36.50. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74.

York Water (NASDAQ:YORW) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $11.83 million during the quarter, compared to the consensus estimate of $12.00 million. York Water had a return on equity of 10.88% and a net margin of 27.96%. As a group, equities research analysts forecast that York Water will post 1.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.1733 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.69 annualized dividend and a dividend yield of 1.97%. York Water’s payout ratio is 66.35%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in shares of York Water by 3.0% during the first quarter. Janney Montgomery Scott LLC now owns 12,618 shares of the utilities provider’s stock valued at $433,000 after purchasing an additional 369 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of York Water by 21.4% during the fourth quarter. Legal & General Group Plc now owns 2,516 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 443 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of York Water by 103.8% during the fourth quarter. Advisor Group Inc. now owns 954 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 486 shares during the last quarter. Citigroup Inc. raised its holdings in shares of York Water by 14.5% during the fourth quarter. Citigroup Inc. now owns 4,527 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 574 shares during the last quarter. Finally, Cadence Capital Management LLC raised its holdings in shares of York Water by 1.8% during the first quarter. Cadence Capital Management LLC now owns 36,786 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 635 shares during the last quarter. 36.99% 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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