Shares of Artesian Resources Corporation (NASDAQ:ARTNA) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also assigned Artesian Resources Corporation an industry rank of 118 out of 265 based on the ratings given to its competitors.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub raised shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.
A number of institutional investors have recently made changes to their positions in ARTNA. Dimensional Fund Advisors LP increased its holdings in Artesian Resources Corporation by 9.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock valued at $8,997,000 after buying an additional 20,661 shares during the period. Renaissance Technologies LLC increased its holdings in Artesian Resources Corporation by 6.6% in the 1st quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock valued at $9,205,000 after buying an additional 17,400 shares during the period. Dalton Greiner Hartman Maher & Co. increased its holdings in Artesian Resources Corporation by 29.3% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 74,911 shares of the utilities provider’s stock valued at $2,820,000 after buying an additional 16,968 shares during the period. SG Americas Securities LLC bought a new stake in Artesian Resources Corporation in the 3rd quarter valued at $538,000. Finally, WFG Advisors LP increased its holdings in Artesian Resources Corporation by 9.4% in the 2nd quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock valued at $5,421,000 after buying an additional 12,399 shares during the period. 39.95% of the stock is currently owned by hedge funds and other institutional investors.
Artesian Resources Corporation (NASDAQ:ARTNA) traded down $0.93 during trading hours on Monday, hitting $37.96. 13,600 shares of the stock were exchanged, compared to its average volume of 22,853. Artesian Resources Corporation has a 12 month low of $27.93 and a 12 month high of $43.22. The company has a market capitalization of $348.93, a price-to-earnings ratio of 26.92 and a beta of 0.09. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.64 and a current ratio of 0.71.
Artesian Resources Corporation (NASDAQ:ARTNA) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Artesian Resources Corporation had a net margin of 15.96% and a return on equity of 9.18%. The firm had revenue of $22.36 million during the quarter. research analysts expect that Artesian Resources Corporation will post 1.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 13th will be given a dividend of $0.2352 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.94 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Artesian Resources Corporation’s previous quarterly dividend of $0.23. Artesian Resources Corporation’s payout ratio is 65.96%.
About Artesian Resources Corporation
Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.
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