Zimmer Partners LP Boosts Stock Position in The York Water Company $YORW

Key Points

• Zimmer Partners LP increased its stake in The York Water Company by 1.4%, now owning approximately 5.26% of the company worth about $26.27 million.
• The York Water Company reported a quarterly earnings increase, posting $0.35 earnings per share, surpassing analysts' expectations.
• A quarterly dividend of $0.2192 per share will be paid on October 15th, with a dividend yield of 2.9% and a payout ratio of 64.23%.

Zimmer Partners LP lifted its holdings in The York Water Company (NASDAQ:YORW - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 757,623 shares of the utilities provider's stock after purchasing an additional 10,680 shares during the quarter. Zimmer Partners LP owned 5.26% of York Water worth $26,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of YORW. Dynamic Technology Lab Private Ltd bought a new stake in York Water in the 1st quarter worth about $263,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of York Water by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,476 shares of the utilities provider's stock valued at $398,000 after acquiring an additional 937 shares during the last quarter. Martingale Asset Management L P grew its stake in shares of York Water by 3.3% in the first quarter. Martingale Asset Management L P now owns 23,526 shares of the utilities provider's stock worth $816,000 after acquiring an additional 741 shares during the period. EntryPoint Capital LLC purchased a new position in shares of York Water during the first quarter valued at approximately $239,000. Finally, Penn Mutual Asset Management raised its holdings in shares of York Water by 146.7% during the first quarter. Penn Mutual Asset Management now owns 18,500 shares of the utilities provider's stock valued at $642,000 after purchasing an additional 11,000 shares during the last quarter. 49.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of York Water from a "sell" rating to a "hold" rating in a report on Saturday.

York Water Stock Performance

Shares of NASDAQ YORW traded down $0.09 during midday trading on Friday, hitting $30.86. 96,756 shares of the company's stock traded hands, compared to its average volume of 107,142. The firm has a fifty day moving average of $31.05 and a 200 day moving average of $32.63. The York Water Company has a 1 year low of $29.86 and a 1 year high of $39.79. 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 $445.00 million, a price-to-earnings ratio of 22.53 and a beta of 0.74.

York Water (NASDAQ:YORW - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. York Water had a net margin of 25.83% and a return on equity of 8.50%. The company had revenue of $19.20 million for the quarter, compared to the consensus estimate of $19.00 million. On average, analysts forecast that The York Water Company will post 1.43 earnings per share for the current year.

York Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.2192 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. York Water's payout ratio is presently 64.23%.

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.