York Water (YORW) Lifted to “Buy” at BidaskClub

York Water (NASDAQ:YORW) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Boenning Scattergood restated an “outperform” rating on shares of York Water in a research note on Thursday.

NASDAQ YORW opened at $30.33 on Friday. York Water has a 12 month low of $27.45 and a 12 month high of $39.00. The company has a market cap of $392.62 million, a price-to-earnings ratio of 29.23 and a beta of 0.26. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 0.66.

York Water (NASDAQ:YORW) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. York Water had a net margin of 27.42% and a return on equity of 11.14%. The company had revenue of $12.03 million for the quarter.

Several institutional investors have recently added to or reduced their stakes in YORW. JPMorgan Chase & Co. raised its position in shares of York Water by 41.1% during the first quarter. JPMorgan Chase & Co. now owns 6,586 shares of the utilities provider’s stock valued at $204,000 after buying an additional 1,918 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of York Water by 22.0% during the second quarter. Commonwealth Equity Services LLC now owns 10,157 shares of the utilities provider’s stock valued at $323,000 after buying an additional 1,833 shares during the last quarter. Boenning & Scattergood Inc. raised its position in shares of York Water by 19.8% during the third quarter. Boenning & Scattergood Inc. now owns 18,172 shares of the utilities provider’s stock valued at $552,000 after buying an additional 3,002 shares during the last quarter. Royal Bank of Canada raised its position in shares of York Water by 12.4% during the first quarter. Royal Bank of Canada now owns 19,373 shares of the utilities provider’s stock valued at $601,000 after buying an additional 2,132 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of York Water by 185.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,839 shares of the utilities provider’s stock valued at $631,000 after buying an additional 12,900 shares during the last quarter. Hedge funds and other institutional investors own 34.37% of the company’s stock.

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: Understanding Price to Earnings Ratio (PE)

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