Artesian Resources Co. (NASDAQ:ARTNA) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Zacks has also assigned Artesian Resources an industry rank of 243 out of 255 based on the ratings given to its competitors.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Artesian Resources from a “sell” rating to a “hold” rating in a research note on Friday, May 25th. BidaskClub raised shares of Artesian Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 10th.
Artesian Resources stock traded down $0.43 during midday trading on Friday, reaching $38.57. The company had a trading volume of 13 shares, compared to its average volume of 15,440. The firm has a market capitalization of $366.58 million, a PE ratio of 17.03 and a beta of 0.09. Artesian Resources has a 12-month low of $32.00 and a 12-month high of $43.22. The company has a current ratio of 0.47, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71.
Artesian Resources (NASDAQ:ARTNA) last issued its quarterly earnings results on Wednesday, March 14th. The utilities provider reported $0.50 earnings per share for the quarter. Artesian Resources had a net margin of 17.54% and a return on equity of 10.49%. The firm had revenue of $20.19 million for the quarter. sell-side analysts predict that Artesian Resources will post 1.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Monday, May 14th were issued a dividend of $0.2387 per share. The ex-dividend date was Friday, May 11th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Artesian Resources’s previous quarterly dividend of $0.24. Artesian Resources’s dividend payout ratio (DPR) is currently 41.30%.
In other news, Director Kenneth R. Biederman sold 6,750 shares of the firm’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $36.78, for a total transaction of $248,265.00. Following the completion of the sale, the director now owns 26,625 shares in the company, valued at approximately $979,267.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 20.59% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ARTNA. Dimensional Fund Advisors LP increased its holdings in Artesian Resources 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 purchasing an additional 20,661 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Artesian Resources in the fourth quarter worth $752,000. Algert Global LLC acquired a new position in shares of Artesian Resources in the fourth quarter worth $742,000. Wells Fargo & Company MN grew its stake in shares of Artesian Resources by 108.8% in the fourth quarter. Wells Fargo & Company MN now owns 56,507 shares of the utilities provider’s stock worth $2,178,000 after acquiring an additional 29,450 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Artesian Resources by 1.1% in the fourth quarter. BlackRock Inc. now owns 396,514 shares of the utilities provider’s stock worth $15,289,000 after acquiring an additional 4,259 shares in the last quarter. Institutional investors and hedge funds own 38.61% of the company’s stock.
About Artesian Resources
Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services on the Delmarva Peninsula. 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 services to customers in Delaware.
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