York Water (NASDAQ:YORW) Announces Earnings Results, Beats Expectations By $0.09 EPS

York Water (NASDAQ:YORW) announced its earnings results on Thursday. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09, FiscalAI reports. The firm had revenue of $23.52 million for the quarter, compared to analyst estimates of $22.18 million. York Water had a net margin of 28.53% and a return on equity of 9.91%.

York Water Price Performance

YORW stock opened at $31.70 on Friday. The stock has a 50-day moving average price of $30.56 and a two-hundred day moving average price of $31.06. York Water has a 12-month low of $28.26 and a 12-month high of $34.30. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 0.94. The company has a market cap of $513.86 million, a PE ratio of 19.69 and a beta of 0.60.

Hedge Funds Weigh In On York Water

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of York Water by 4.0% in the second quarter. Ameriprise Financial Inc. now owns 8,572 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 327 shares during the period. Cullen Capital Management LLC grew its holdings in York Water by 3.8% during the 4th quarter. Cullen Capital Management LLC now owns 10,868 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 393 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in York Water by 4.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,676 shares of the utilities provider’s stock worth $340,000 after buying an additional 487 shares during the period. Tower Research Capital LLC TRC increased its stake in York Water by 86.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,411 shares of the utilities provider’s stock worth $45,000 after buying an additional 656 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in York Water by 6.0% in the 3rd quarter. Merit Financial Group LLC now owns 13,218 shares of the utilities provider’s stock worth $402,000 after buying an additional 754 shares in the last quarter. 49.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised York Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, York Water presently has an average rating of “Hold”.

York Water Company Profile

York Water Company (NASDAQ: YORW) is an investor-owned regulated water utility headquartered in York, Pennsylvania. Founded in 1816, it is the oldest publicly traded water utility in the United States. The company’s principal operations involve the collection, treatment and distribution of potable water to residential, commercial and industrial customers under rate schedules approved by the Pennsylvania Public Utility Commission.

York Water Company’s service territory covers portions of south-central Pennsylvania, including York County and neighboring Adams and Franklin counties.