Artesian Resources (NASDAQ:ARTNA) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Shares of Artesian Resources crossed above its 200-day moving average (200‑day MA $32.51), trading as high as $33.00 and last at $32.58 on volume of 35,683, a short-term technical bullish signal.
• Recent quarter beat estimates with EPS of $0.40 vs. $0.37 and revenue roughly in line at $28.02M; the company has a market cap of $336M, P/E ~14.7, and pays a quarterly dividend of $0.3136 (annual $1.25) for a 3.9% yield with a ~56% payout ratio.
• Analyst and investor sentiment is cautious—MarketBeat shows an average rating of "Hold" (two analysts), while institutional investors own about 57% of the stock with several funds making small recent purchases.

Artesian Resources Corporation (NASDAQ:ARTNA - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.51 and traded as high as $33.00. Artesian Resources shares last traded at $32.58, with a volume of 35,683 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARTNA. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Artesian Resources in a report on Wednesday, January 21st. Zacks Research raised shares of Artesian Resources from a "strong sell" rating to a "hold" rating in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold".

Artesian Resources Stock Up 0.4%

The company has a market capitalization of $336.23 million, a P/E ratio of 14.68 and a beta of 0.37. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.52 and a current ratio of 0.64. The stock has a 50 day moving average price of $32.74 and a 200 day moving average price of $32.51.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last released its earnings results on Friday, March 13th. The utilities provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.03. The company had revenue of $28.02 million for the quarter, compared to analysts' expectations of $28.00 million. Artesian Resources had a return on equity of 9.52% and a net margin of 20.76%.

Artesian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were paid a dividend of $0.3136 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, February 13th. Artesian Resources's payout ratio is presently 56.31%.

Institutional Investors Weigh In On Artesian Resources

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Artesian Resources during the 3rd quarter worth $38,000. Jones Financial Companies Lllp raised its stake in Artesian Resources by 39.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 408 shares during the period. Osaic Holdings Inc. raised its stake in Artesian Resources by 44.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 503 shares during the period. Copeland Capital Management LLC bought a new stake in Artesian Resources in the 4th quarter valued at about $63,000. Finally, BNP Paribas Financial Markets raised its stake in Artesian Resources by 422.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider's stock valued at $125,000 after acquiring an additional 3,005 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.

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