York Water (YORW) 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 sent to investors 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 analysts also recently issued reports on YORW. BidaskClub raised shares of York Water from a sell rating to a hold rating in a research report on Thursday, May 9th. Janney Montgomery Scott downgraded shares of York Water from a buy rating to a neutral rating and increased their price objective for the company from $35.00 to $36.00 in a research report on Wednesday, March 13th. They noted that the move was a valuation call. Finally, Boenning Scattergood downgraded shares of York Water from an outperform rating to a neutral rating in a research report on Tuesday, March 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. York Water has an average rating of Hold and an average target price of $37.00.

YORW opened at $35.03 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.73. York Water has a 1 year low of $28.95 and a 1 year high of $36.50. The company has a market cap of $453.85 million, a P/E ratio of 33.68 and a beta of 0.24.

York Water (NASDAQ:YORW) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). York Water had a net margin of 27.96% and a return on equity of 10.88%. The firm had revenue of $11.83 million during the quarter, compared to analyst estimates of $12.00 million. On average, analysts expect that York Water will post 1.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.1733 dividend. This represents a $0.69 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, June 27th. York Water’s dividend payout ratio (DPR) is 66.35%.

Large investors have recently modified their holdings of the business. Penn Capital Management Co. Inc. acquired a new stake in shares of York Water during the first quarter worth approximately $3,074,000. Pennsylvania Trust Co bought a new stake in shares of York Water during the first quarter valued at about $3,227,000. Deprince Race & Zollo Inc. raised its stake in shares of York Water by 192.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 83,646 shares of the utilities provider’s stock valued at $2,682,000 after purchasing an additional 54,997 shares in the last quarter. FDx Advisors Inc. bought a new stake in shares of York Water during the fourth quarter valued at about $1,740,000. Finally, Metropolitan Life Insurance Co NY raised its stake in shares of York Water by 552.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 26,708 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 22,615 shares in the last quarter. 38.23% of the stock is owned by 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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