York Water (NASDAQ:YORW) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

York Water (NASDAQ:YORW) announced its quarterly earnings results on Thursday. The utilities provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05, Zacks reports. York Water had a net margin of 25.83% and a return on equity of 8.50%. The firm had revenue of $20.36 million during the quarter, compared to analysts’ expectations of $21.00 million.

York Water Stock Up 0.0%

NASDAQ:YORW traded up $0.01 during midday trading on Thursday, reaching $32.45. 103,819 shares of the stock traded hands, compared to its average volume of 85,686. York Water has a 12-month low of $29.68 and a 12-month high of $38.22. The business has a 50-day moving average of $30.99 and a two-hundred day moving average of $31.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.80 and a current ratio of 1.00. The stock has a market capitalization of $467.96 million, a PE ratio of 23.69 and a beta of 0.74.

York Water Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in YORW. Bank of America Corp DE raised its holdings in shares of York Water by 39.3% during the second quarter. Bank of America Corp DE now owns 80,304 shares of the utilities provider’s stock worth $2,538,000 after purchasing an additional 22,663 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of York Water by 36.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 63,823 shares of the utilities provider’s stock worth $2,017,000 after purchasing an additional 17,181 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of York Water by 168.7% during the second quarter. Raymond James Financial Inc. now owns 34,801 shares of the utilities provider’s stock worth $1,100,000 after purchasing an additional 21,851 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of York Water by 208.3% during 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 last quarter. Finally, Jane Street Group LLC raised its holdings in shares of York Water by 30.0% during the second quarter. Jane Street Group LLC now owns 18,678 shares of the utilities provider’s stock worth $590,000 after purchasing an additional 4,306 shares during the last quarter. Hedge funds and other institutional investors own 49.86% of the company’s stock.

Analyst Ratings Changes

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

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.