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

Shares of Artesian Resources Corporation (NASDAQ:ARTNA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.64 and traded as high as $34.33. Artesian Resources shares last traded at $33.92, with a volume of 42,287 shares trading hands.

Wall Street Analyst Weigh In

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

Artesian Resources Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.89. The firm has a market cap of $350.67 million, a price-to-earnings ratio of 15.04 and a beta of 0.34. The stock’s fifty day moving average price is $32.72 and its 200-day moving average price is $32.65.

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

Artesian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.3199 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.8%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, May 15th. Artesian Resources’s payout ratio is 56.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ARTNA. Russell Investments Group Ltd. raised its position in Artesian Resources by 0.7% during 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 during the period. Royal Bank of Canada boosted its position in Artesian Resources by 9.0% during 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 period. Osaic Holdings Inc. boosted its position in Artesian Resources by 44.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 503 shares during the period. Goldman Sachs Group Inc. grew its stake in Artesian Resources by 0.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 62,269 shares of the utilities provider’s stock valued at $1,968,000 after acquiring an additional 581 shares in the last quarter. Finally, State Street Corp grew its stake in Artesian Resources by 0.9% during the 4th quarter. State Street Corp now owns 66,690 shares of the utilities provider’s stock valued at $2,108,000 after acquiring an additional 589 shares in the last quarter. Hedge funds and other 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.