Artesian Resources (ARTNA) Projected to Post Quarterly Earnings on Wednesday

Artesian Resources (NASDAQ:ARTNA) is anticipated to release its results before the market opens on Wednesday, March 11th. Analysts expect Artesian Resources to post earnings of $0.37 per share and revenue of $28.00 million for the quarter.

Artesian Resources Trading Up 0.1%

Shares of ARTNA opened at $33.81 on Wednesday. Artesian Resources has a 12-month low of $30.50 and a 12-month high of $36.19. The firm has a market capitalization of $348.58 million, a P/E ratio of 15.44 and a beta of 0.36. The firm has a 50-day moving average price of $32.95 and a 200 day moving average price of $32.62. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 0.70.

Artesian Resources Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on ARTNA shares. Zacks Research raised shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Artesian Resources in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Artesian Resources during the third quarter worth $38,000. Osaic Holdings Inc. lifted its stake 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 in the last quarter. Jones Financial Companies Lllp boosted its holdings in Artesian Resources by 985.2% during the 1st quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 2,463 shares during the period. BNP Paribas Financial Markets boosted its holdings in Artesian Resources by 422.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 3,005 shares during the period. Finally, Royal Bank of Canada grew its position in Artesian Resources by 9.0% in the 4th quarter. Royal Bank of Canada now owns 5,813 shares of the utilities provider’s stock valued at $183,000 after acquiring an additional 480 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.