York Water (NASDAQ:YORW) Announces Quarterly Earnings Results

York Water (NASDAQ:YORW) released its quarterly earnings data on Thursday. The utilities provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05, Zacks reports. The business had revenue of $20.36 million during the quarter, compared to analysts’ expectations of $21.00 million. York Water had a net margin of 25.83% and a return on equity of 8.50%.

York Water Stock Performance

YORW stock traded down $0.45 during trading hours on Friday, hitting $32.00. 42,044 shares of the stock were exchanged, compared to its average volume of 85,510. York Water has a 12 month low of $29.68 and a 12 month high of $37.68. The company has a current ratio of 1.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $461.41 million, a P/E ratio of 23.36 and a beta of 0.74. The company has a 50-day simple moving average of $31.02 and a two-hundred day simple moving average of $31.81.

York Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.2192 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.88 annualized dividend and a yield of 2.7%. York Water’s dividend payout ratio (DPR) is presently 63.50%.

Wall Street Analysts Forecast Growth

Several research firms have commented on YORW. Wall Street Zen cut York Water from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of York Water in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On York Water

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in shares of York Water by 39.3% in the second quarter. Bank of America Corp DE now owns 80,304 shares of the utilities provider’s stock valued at $2,538,000 after buying an additional 22,663 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in York Water by 36.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 63,823 shares of the utilities provider’s stock worth $2,017,000 after acquiring an additional 17,181 shares during the period. Raymond James Financial Inc. lifted its position in shares of York Water by 168.7% during the 2nd quarter. Raymond James Financial Inc. now owns 34,801 shares of the utilities provider’s stock valued at $1,100,000 after acquiring an additional 21,851 shares during the period. Quantinno Capital Management LP increased its position in shares of York Water by 208.3% in the second quarter. Quantinno Capital Management LP now owns 18,862 shares of the utilities provider’s stock worth $596,000 after purchasing an additional 12,743 shares during the period. Finally, Jane Street Group LLC raised its stake in York Water by 30.0% in the second quarter. Jane Street Group LLC now owns 18,678 shares of the utilities provider’s stock valued at $590,000 after purchasing an additional 4,306 shares in the last quarter. 49.86% of the stock is currently owned by institutional investors and hedge funds.

York Water Company Profile

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.