Artesian Resources (NASDAQ:ARTNA) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Artesian Resources Corporation (NASDAQ:ARTNA) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.60 and traded as high as $33.41. Artesian Resources shares last traded at $33.19, with a volume of 29,908 shares traded.

Analyst Ratings Changes

ARTNA has been the subject of several recent research reports. Zacks Research raised Artesian Resources from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Artesian Resources in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Artesian Resources presently has a consensus rating of “Hold”.

Artesian Resources Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.54 and a current ratio of 0.68. The firm has a market capitalization of $342.19 million, a P/E ratio of 15.16 and a beta of 0.36. The business has a fifty day moving average of $32.65 and a 200-day moving average of $32.60.

Artesian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th will be issued a $0.3136 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.25 annualized dividend and a dividend yield of 3.8%. Artesian Resources’s dividend payout ratio (DPR) is 57.08%.

Institutional Investors Weigh In On Artesian Resources

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Artesian Resources by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 514,412 shares of the utilities provider’s stock valued at $16,767,000 after purchasing an additional 3,079 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Artesian Resources by 344,107.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 326,997 shares of the utilities provider’s stock valued at $10,336,000 after buying an additional 326,902 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Artesian Resources during the second quarter valued at about $5,034,000. Legal & General Group Plc grew its holdings in Artesian Resources by 14.3% during the second quarter. Legal & General Group Plc now owns 142,048 shares of the utilities provider’s stock worth $4,767,000 after acquiring an additional 17,752 shares during the period. Finally, Roffman Miller Associates Inc. PA raised its position in Artesian Resources by 16.4% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 137,337 shares of the utilities provider’s stock worth $4,341,000 after acquiring an additional 19,342 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Artesian Resources Company Profile

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.