Artesian Resources Co. (ARTNA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Artesian Resources Co. (NASDAQ:ARTNA) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Zacks has also given Artesian Resources an industry rank of 215 out of 265 based on the ratings given to its competitors.

A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of Artesian Resources from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research raised shares of Artesian Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th.

Shares of Artesian Resources (NASDAQ ARTNA) opened at $39.20 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.64 and a current ratio of 0.71. The stock has a market cap of $360.33, a PE ratio of 27.80 and a beta of 0.10. Artesian Resources has a 1-year low of $29.83 and a 1-year high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The company had revenue of $22.36 million for the quarter. Artesian Resources had a net margin of 15.96% and a return on equity of 9.18%. sell-side analysts forecast that Artesian Resources will post 1.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a $0.2352 dividend. This represents a $0.94 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, February 8th. Artesian Resources’s dividend payout ratio (DPR) is presently 66.67%.

In other news, Director William C. Wyer sold 6,750 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $42.00, for a total value of $283,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kenneth R. Biederman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $39.05, for a total transaction of $78,100.00. Following the completion of the transaction, the director now owns 21,875 shares in the company, valued at approximately $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 in the last quarter. Company insiders own 20.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Capital Management Holdings LLC. raised its stake in Artesian Resources by 139.7% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 2,917 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,700 shares during the period. OxFORD Asset Management LLP bought a new stake in shares of Artesian Resources during the third quarter valued at approximately $208,000. Dimensional Fund Advisors LP raised its position 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 buying an additional 20,661 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 buying an additional 6,707 shares during the last quarter. Finally, FCA Corp TX raised its position 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 buying an additional 4,375 shares during the last quarter. Institutional investors own 38.70% of the company’s stock.

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Artesian Resources Company Profile

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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