Artesian Resources Co. (NASDAQ:ARTNA) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also assigned Artesian Resources an industry rank of 117 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Artesian Resources from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Zacks Investment Research raised shares of Artesian Resources from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th.
Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The company had revenue of $22.36 million during the quarter. Artesian Resources had a return on equity of 9.18% and a net margin of 15.96%. research analysts expect that Artesian Resources will post 1.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th were paid a $0.2352 dividend. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.23. This represents a $0.94 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, November 10th. Artesian Resources’s payout ratio is currently 66.67%.
In other Artesian Resources news, insider Dian C. Taylor sold 8,798 shares of Artesian Resources stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $42.36, for a total transaction of $372,683.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth R. Biederman sold 2,000 shares of Artesian Resources stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $39.05, for a total value of $78,100.00. Following the sale, the director now owns 21,875 shares in the company, valued at $854,218.75. The disclosure for this sale can be found here. Insiders sold a total of 17,548 shares of company stock worth $734,283 over the last ninety days. Corporate insiders own 20.59% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ARTNA. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Artesian Resources by 139.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 2,917 shares of the utilities provider’s stock valued at $109,000 after buying an additional 1,700 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of Artesian Resources in the third quarter valued at $208,000. Dimensional Fund Advisors LP lifted its holdings in shares of Artesian Resources by 9.5% during the third 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. JPMorgan Chase & Co. lifted its holdings in shares of Artesian Resources by 40.3% during the third quarter. JPMorgan Chase & Co. now owns 23,338 shares of the utilities provider’s stock valued at $903,000 after purchasing an additional 6,707 shares during the last quarter. Finally, FCA Corp TX lifted its holdings in shares of Artesian Resources by 5.3% during the third quarter. FCA Corp TX now owns 87,149 shares of the utilities provider’s stock valued at $3,294,000 after purchasing an additional 4,375 shares during the last quarter. Institutional investors and hedge funds own 40.34% of the company’s stock.
About Artesian Resources
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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