York Water (NASDAQ:YORW) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of York Water (NASDAQ:YORW) from a hold rating to a sell rating in a report published on Friday morning.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of York Water in a research report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

York Water Price Performance

Shares of York Water stock opened at $30.07 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.80. The business’s 50 day simple moving average is $30.74 and its two-hundred day simple moving average is $32.26. The stock has a market capitalization of $433.64 million, a P/E ratio of 21.95 and a beta of 0.72. York Water has a one year low of $29.68 and a one year high of $38.50.

York Water (NASDAQ:YORW) last announced its quarterly earnings results on Tuesday, August 12th. The utilities provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $19.20 million for the quarter, compared to analysts’ expectations of $19.00 million. York Water had a return on equity of 8.50% and a net margin of 25.83%. Analysts forecast that York Water will post 1.43 EPS for the current year.

York Water Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.2192 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. York Water’s payout ratio is currently 63.50%.

Institutional Investors Weigh In On York Water

Several hedge funds have recently made changes to their positions in YORW. Nuveen LLC bought a new stake in shares of York Water during the first quarter valued at approximately $2,349,000. CenterBook Partners LP boosted its position in shares of York Water by 172.3% during the first quarter. CenterBook Partners LP now owns 58,365 shares of the utilities provider’s stock valued at $2,024,000 after purchasing an additional 36,932 shares in the last quarter. Legal & General Group Plc boosted its position in shares of York Water by 13.0% during the second quarter. Legal & General Group Plc now owns 259,883 shares of the utilities provider’s stock valued at $8,212,000 after purchasing an additional 29,882 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of York Water during the second quarter valued at approximately $781,000. Finally, Invesco Ltd. boosted its position in shares of York Water by 36.8% during the first quarter. Invesco Ltd. now owns 85,086 shares of the utilities provider’s stock valued at $2,951,000 after purchasing an additional 22,866 shares in the last quarter. 49.86% of the stock is currently owned by institutional investors.

About York Water

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.