Artesian Resources (NASDAQ:ARTNA) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Artesian Resources Corporation (NASDAQ:ARTNA) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $32.61 and traded as high as $34.11. Artesian Resources shares last traded at $32.81, with a volume of 24,708 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Artesian Resources in a research report on Wednesday, October 8th. Zacks Research cut shares of Artesian Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Artesian Resources Stock Down 3.8%

The firm has a 50-day simple moving average of $31.89 and a 200 day simple moving average of $32.61. The stock has a market capitalization of $338.27 million, a P/E ratio of 14.98 and a beta of 0.33. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.68 and a quick ratio of 0.54.

Artesian Resources (NASDAQ:ARTNA) last released its quarterly earnings data on Friday, October 31st. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $30.49 million during the quarter, compared to the consensus estimate of $30.00 million. Artesian Resources had a return on equity of 9.51% and a net margin of 20.72%. On average, equities research analysts forecast that Artesian Resources Corporation will post 1.92 EPS for the current year.

Artesian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Friday, November 14th were given a $0.3136 dividend. This is an increase from Artesian Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Friday, November 14th. This represents a $1.25 annualized dividend and a yield of 3.8%. Artesian Resources’s dividend payout ratio is currently 57.08%.

Institutional Trading of Artesian Resources

Several institutional investors have recently modified their holdings of ARTNA. Quarry LP acquired a new stake in Artesian Resources in the third quarter valued at $38,000. Jones Financial Companies Lllp grew its position in shares of Artesian Resources by 39.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider’s stock valued at $47,000 after buying an additional 408 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Artesian Resources by 44.6% in the second quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock valued at $55,000 after buying an additional 503 shares during the period. BNP Paribas Financial Markets raised 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 worth $125,000 after acquiring an additional 3,005 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new position in shares of Artesian Resources in the third quarter worth approximately $210,000. Institutional investors own 57.37% of the company’s stock.

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.