York Water (NASDAQ:YORW) Posts Earnings Results, Beats Estimates By $0.09 EPS

York Water (NASDAQ:YORW) issued its quarterly earnings data on Thursday. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09, FiscalAI reports. York Water had a return on equity of 8.89% and a net margin of 26.84%.The business had revenue of $23.52 million for the quarter, compared to the consensus estimate of $22.18 million.

York Water Stock Performance

NASDAQ:YORW opened at $31.61 on Friday. The firm’s 50-day moving average is $30.52 and its 200-day moving average is $31.06. The company has a market cap of $512.40 million, a price-to-earnings ratio of 21.50 and a beta of 0.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.60 and a current ratio of 0.72. York Water has a 52-week low of $28.26 and a 52-week high of $34.30.

Institutional Investors Weigh In On York Water

Hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in York Water by 4.0% in the second quarter. Ameriprise Financial Inc. now owns 8,572 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 327 shares in the last quarter. Cullen Capital Management LLC increased its stake in shares of York Water by 3.8% in the fourth quarter. Cullen Capital Management LLC now owns 10,868 shares of the utilities provider’s stock valued at $346,000 after buying an additional 393 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of York Water by 4.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,676 shares of the utilities provider’s stock valued at $340,000 after buying an additional 487 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of York Water by 86.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,411 shares of the utilities provider’s stock valued at $45,000 after buying an additional 656 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of York Water by 6.0% in the third quarter. Merit Financial Group LLC now owns 13,218 shares of the utilities provider’s stock valued at $402,000 after buying an additional 754 shares during the last quarter. Institutional investors own 49.86% of the company’s stock.

Analysts Set New Price Targets

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

About York Water

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.