Artesian Resources (NASDAQ:ARTNA) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Artesian Resources Corporation (NASDAQ:ARTNA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.34 and traded as high as $32.48. Artesian Resources shares last traded at $32.33, with a volume of 43,576 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings cut Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Artesian Resources Price Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.01. The company has a 50-day moving average of $32.01 and a 200-day moving average of $32.34. The firm has a market capitalization of $334.91 million, a price-to-earnings ratio of 14.35 and a beta of 0.33.

Artesian Resources (NASDAQ:ARTNA) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Artesian Resources had a return on equity of 9.61% and a net margin of 20.86%.The business had revenue of $27.77 million during the quarter, compared to analyst estimates of $27.00 million.

Artesian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a dividend of $0.3199 per share. This represents a $1.28 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, May 15th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.31. Artesian Resources’s dividend payout ratio (DPR) is 56.64%.

Institutional Trading of Artesian Resources

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in Artesian Resources in the third quarter valued at about $38,000. Jones Financial Companies Lllp increased its holdings in shares of Artesian Resources by 39.7% during the third 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 in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Artesian Resources by 44.6% during the second 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 in the last quarter. Copeland Capital Management LLC purchased a new position in shares of Artesian Resources during the fourth quarter valued at approximately $63,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Artesian Resources by 422.1% during the second quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock valued at $125,000 after buying an additional 3,005 shares during the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

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.