Artesian Resources Co. (NASDAQ:ARTNA) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Zacks has also assigned Artesian Resources an industry rank of 193 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Artesian Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. BidaskClub cut Artesian Resources from a “hold” rating to a “sell” rating in a report on Thursday, December 7th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Artesian Resources by 1.1% during the 4th quarter. BlackRock Inc. now owns 396,514 shares of the utilities provider’s stock valued at $15,289,000 after purchasing an additional 4,259 shares during the period. Vanguard Group Inc. raised its stake in Artesian Resources by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock valued at $13,906,000 after purchasing an additional 3,541 shares during the period. Dimensional Fund Advisors LP raised its stake in Artesian Resources by 9.5% during 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 period. State Street Corp raised its stake in Artesian Resources by 5.0% during the 2nd quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock valued at $6,819,000 after purchasing an additional 8,679 shares during the period. Finally, WFG Advisors LP raised its stake in Artesian Resources by 9.4% during the 2nd quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock valued at $5,421,000 after purchasing an additional 12,399 shares during the period. 38.53% of the stock is currently owned by institutional investors.
Shares of Artesian Resources (ARTNA) traded down $0.60 during midday trading on Monday, hitting $34.45. The stock had a trading volume of 26,552 shares, compared to its average volume of 25,798. 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 firm has a market capitalization of $322.18, a P/E ratio of 24.43 and a beta of 0.05. Artesian Resources has a fifty-two week low of $30.09 and a fifty-two week high of $43.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a dividend of $0.2352 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.94 annualized dividend and a yield of 2.73%. Artesian Resources’s payout ratio is 66.67%.
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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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