Artesian Resources (NASDAQ:ARTNA) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Artesian Resources Corporation (NASDAQ:ARTNA)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.34 and traded as high as $32.76. Artesian Resources shares last traded at $32.52, with a volume of 38,967 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARTNA. Zacks Research raised Artesian Resources from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings lowered Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Artesian Resources currently has an average rating of “Hold”.

Artesian Resources Trading Down 0.2%

The firm has a 50-day moving average of $32.07 and a 200 day moving average of $32.34. The company has a current ratio of 1.01, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $335.74 million, a price-to-earnings ratio of 14.39 and a beta of 0.33.

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

Artesian Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.3199 per share. This represents a $1.28 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.31. Artesian Resources’s dividend payout ratio is 56.64%.

Institutional Trading of Artesian Resources

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Artesian Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 514,412 shares of the utilities provider’s stock valued at $16,767,000 after acquiring an additional 3,079 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Artesian Resources by 344,107.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 326,997 shares of the utilities provider’s stock worth $10,336,000 after purchasing an additional 326,902 shares during the period. Renaissance Technologies LLC boosted its stake in Artesian Resources by 15.1% during the 1st quarter. Renaissance Technologies LLC now owns 320,456 shares of the utilities provider’s stock valued at $10,207,000 after purchasing an additional 42,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Artesian Resources by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 189,917 shares of the utilities provider’s stock valued at $6,049,000 after purchasing an additional 1,220 shares during the period. Finally, Kestra Advisory Services LLC increased its position in shares of Artesian Resources by 1.0% during the 1st quarter. Kestra Advisory Services LLC now owns 166,443 shares of the utilities provider’s stock valued at $5,301,000 after purchasing an additional 1,664 shares during the period. 57.37% of the stock is 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.