Artesian Resources (NASDAQ:ARTNA) Stock Passes Above 200-Day Moving Average – What’s Next?

Artesian Resources Corporation (NASDAQ:ARTNA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.63 and traded as high as $34.73. Artesian Resources shares last traded at $33.88, with a volume of 19,460 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Artesian Resources has a consensus rating of “Hold”.

Artesian Resources Price Performance

The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $349.30 million, a PE ratio of 15.47 and a beta of 0.36. The firm’s 50 day simple moving average is $32.87 and its 200 day simple moving average is $32.63.

Artesian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were given a $0.3136 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, February 13th. Artesian Resources’s dividend payout ratio is 57.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Artesian Resources during the 3rd quarter worth approximately $38,000. Jones Financial Companies Lllp increased its stake in Artesian Resources by 39.7% in the third quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 408 shares during the period. Osaic Holdings Inc. lifted 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 last quarter. Copeland Capital Management LLC purchased a new stake in shares of Artesian Resources during the fourth quarter valued at $63,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Artesian Resources by 422.1% in the second quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 3,005 shares during the last quarter. 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.