Artesian Resources Corporation (NASDAQ:ARTNA – Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.64 and traded as high as $34.33. Artesian Resources shares last traded at $33.92, with a volume of 42,287 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded shares of Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Artesian Resources currently has an average rating of “Hold”.
Read Our Latest Research Report on ARTNA
Artesian Resources Stock Performance
Artesian Resources (NASDAQ:ARTNA – Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. The business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $27.00 million. Artesian Resources had a return on equity of 9.61% and a net margin of 20.86%.
Artesian Resources Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.3199 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.8%. Artesian Resources’s payout ratio is currently 56.64%.
Hedge Funds Weigh In On Artesian Resources
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Artesian Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 514,412 shares of the utilities provider’s stock valued at $16,767,000 after acquiring an additional 3,079 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Artesian Resources by 344,107.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 326,997 shares of the utilities provider’s stock worth $10,336,000 after purchasing an additional 326,902 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Artesian Resources by 15.1% in the 1st quarter. Renaissance Technologies LLC now owns 320,456 shares of the utilities provider’s stock worth $10,207,000 after purchasing an additional 42,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Artesian Resources by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 189,917 shares of the utilities provider’s stock valued at $6,049,000 after purchasing an additional 1,220 shares during the period. Finally, Kestra Advisory Services LLC boosted its holdings in Artesian Resources by 1.0% in the 1st quarter. Kestra Advisory Services LLC now owns 166,443 shares of the utilities provider’s stock valued at $5,301,000 after purchasing an additional 1,664 shares during the period. 57.37% of the stock is currently owned by institutional investors.
About Artesian Resources
Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.
Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.
Read More
- Five stocks we like better than Artesian Resources
- PriceSmart Stock Eyes $220 as Chile Expansion Fuels Growth
- Dollar Tree’s Turnaround Is Starting to Take Root
- Why Levi’s Digital Strategy Is Paying Off in a Big Way
- Constellation Brands: Beer Growth and Buybacks Mask Stock’s Slump
Receive News & Ratings for Artesian Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Artesian Resources and related companies with MarketBeat.com's FREE daily email newsletter.
