York Water remains a high-quality, conservative water utility, with a strong regulatory relationship and robust infrastructure maintenance. I maintain a Buy rating, with a reduced price target, reflecting prudent adjustments for increased debt and interest expense. YORW trades below 25x P/E, offering over 20% upside to a forward fair value based on historical multiples.
York Water (Nasdaq: YORW) declared a quarterly dividend of $0.228 per share in November 2025, marking a 4.0% increase from the prior year and extending a payment streak that stretches back over a decade.
Dividend stocks have more than doubled the average annual return of non-payers over the previous 51 years. Only around two dozen public companies (out of more than 5,500 listings) have been paying a continuous dividend for at least 100 years.
York Water has continuously paid a dividend to shareholders for more than 200 years. The water utility's recently filed rate case and incremental acquisitions could soon return it to growth. York Water maintains an A- S&P credit rating.
Despite periods of heightened volatility on Wall Street, it's turned into a banner year for the benchmark S&P 500 (^GSPC 0.44%), ageless Dow Jones Industrial Average, and growth-propelled Nasdaq Composite. All three major indexes have catapulted to multiple record-closing highs in 2025 in spite of dipping firmly into correction territory or a bear market (for the Nasdaq) in early April.
Today, we'll be highlighting PFE, YORW, and UPS. The trio offers a market-crushing 5.8% yield, an A- blended S&P credit rating, and is trading 21% below fair value estimates. Pfizer appears to have the product portfolio and pipeline to return to modest growth. The York Water Company's capex spending and bolt-on acquisitions can fuel future growth.
The York Water Company's stock has given back its prior year-to-date gains, which presents another buying opportunity. The company has delivered more than 200 years of consecutive dividend payments and 29 years of dividend growth. Revenue growth is accelerating, and I expect EPS to rebound as interest rates start to decline.
For well over a century, Wall Street has been a stomping ground for wealth creation. Though real estate, commodities, and bonds have generated positive nominal returns for investors over time, no other asset class has come particularly close to matching the average annual return of stocks.
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