Artesian Resources (NASDAQ:ARTNA) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Artesian Resources Corporation (NASDAQ:ARTNA) 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 Upgrades and Downgrades

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

Artesian Resources Trading Up 0.5%

The company has a debt-to-equity ratio of 0.70, a current ratio of 0.68 and a quick ratio of 0.54. The business has a fifty day moving average of $32.68 and a 200-day moving average of $32.61. The stock has a market capitalization of $343.84 million, a price-to-earnings ratio of 15.22 and a beta of 0.36.

Artesian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 13th will be issued a $0.3136 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, February 13th. Artesian Resources’s payout ratio is presently 57.08%.

Institutional Trading of Artesian Resources

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in shares of Artesian Resources by 0.7% in the third quarter. Russell Investments Group Ltd. now owns 54,675 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 392 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Artesian Resources by 39.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 408 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Artesian Resources by 9.0% in the 4th quarter. Royal Bank of Canada now owns 5,813 shares of the utilities provider’s stock worth $183,000 after acquiring an additional 480 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Artesian Resources by 44.6% during the second quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 503 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Artesian Resources by 0.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 62,269 shares of the utilities provider’s stock valued at $1,968,000 after purchasing an additional 581 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.

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.