Artesian Resources Corporation (NASDAQ:ARTNA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.95 and traded as high as $33.50. Artesian Resources shares last traded at $32.81, with a volume of 19,859 shares.
Analyst Ratings Changes
Separately, Wall Street Zen upgraded Artesian Resources from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.
Get Our Latest Stock Analysis on Artesian Resources
Artesian Resources Stock Performance
The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.77 and a current ratio of 0.98. The company's fifty day simple moving average is $33.57 and its two-hundred day simple moving average is $32.97. The company has a market capitalization of $345.18 million, a price-to-earnings ratio of 15.43 and a beta of 0.34.
Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. Artesian Resources had a return on equity of 9.60% and a net margin of 20.84%. The business had revenue of $28.55 million for the quarter, compared to the consensus estimate of $29.00 million. Equities research analysts predict that Artesian Resources Corporation will post 1.92 earnings per share for the current fiscal year.
Artesian Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 15th will be given a $0.3074 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, August 15th. Artesian Resources's dividend payout ratio is 56.68%.
Institutional Investors Weigh In On Artesian Resources
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its position in shares of Artesian Resources by 131.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,001 shares of the utilities provider's stock valued at $784,000 after acquiring an additional 13,650 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Artesian Resources in the fourth quarter valued at approximately $272,000. Assenagon Asset Management S.A. acquired a new position in Artesian Resources during the first quarter worth $407,000. Citadel Advisors LLC increased its holdings in shares of Artesian Resources by 56.1% during the 4th quarter. Citadel Advisors LLC now owns 53,305 shares of the utilities provider's stock valued at $1,686,000 after acquiring an additional 19,152 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Artesian Resources by 4,084.4% in the first quarter. GAMMA Investing LLC now owns 1,339 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 1,307 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.
About Artesian Resources
(
Get Free Report)
Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.
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