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

Artesian Resources Corporation (NASDAQ:ARTNA) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.72 and traded as high as $34.30. Artesian Resources shares last traded at $33.98, with a volume of 38,228 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Artesian Resources Trading Up 0.1%

The business has a 50 day moving average of $32.96 and a two-hundred day moving average of $32.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.01. The firm has a market capitalization of $350.67 million, a price-to-earnings ratio of 15.04 and a beta of 0.34.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Artesian Resources had a return on equity of 9.61% and a net margin of 20.86%.The firm had revenue of $27.77 million during the quarter, compared to analysts’ expectations of $27.00 million.

Artesian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.3199 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from Artesian Resources’s previous quarterly dividend of $0.31. Artesian Resources’s dividend payout ratio (DPR) is 56.64%.

Institutional Trading of Artesian Resources

Several hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its holdings in Artesian Resources by 985.2% during the first quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider’s stock worth $89,000 after buying an additional 2,463 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Artesian Resources by 10.6% during the first quarter. Goldman Sachs Group Inc. now owns 72,289 shares of the utilities provider’s stock valued at $2,360,000 after buying an additional 6,956 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Artesian Resources by 129.0% during the first quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider’s stock valued at $1,225,000 after buying an additional 21,127 shares during the last quarter. Creative Planning bought a new stake in shares of Artesian Resources during the second quarter worth about $267,000. Finally, American Century Companies Inc. increased its position in shares of Artesian Resources by 19.2% during the second quarter. American Century Companies Inc. now owns 22,501 shares of the utilities provider’s stock worth $755,000 after acquiring an additional 3,631 shares in the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.