Artesian Resources (NASDAQ:ARTNA) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Artesian Resources Corporation (NASDAQ:ARTNA) shares passed 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 trading hands.

Analyst Upgrades and Downgrades

A number of research firms 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 reaffirmed 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 MarketBeat.com, Artesian Resources currently has a consensus rating of “Hold”.

Artesian Resources Stock Performance

The stock has a market capitalization of $349.30 million, a price-to-earnings ratio of 15.47 and a beta of 0.36. 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 stock has a 50-day moving average of $32.87 and a 200 day moving average of $32.62.

Artesian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders 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 dividend on an annualized basis and a yield of 3.7%. Artesian Resources’s dividend payout ratio (DPR) is presently 57.08%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ARTNA. Jones Financial Companies Lllp boosted its position in shares of Artesian Resources by 985.2% in the 1st quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 2,463 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Artesian Resources by 10.6% during the first quarter. Goldman Sachs Group Inc. now owns 72,289 shares of the utilities provider’s stock worth $2,360,000 after buying an additional 6,956 shares during the last quarter. Jane Street Group LLC boosted its holdings in Artesian Resources by 129.0% during the first quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider’s stock worth $1,225,000 after buying an additional 21,127 shares during the last quarter. Roffman Miller Associates Inc. PA grew its position in shares of Artesian Resources by 17.5% during the 2nd quarter. Roffman Miller Associates Inc. PA now owns 107,275 shares of the utilities provider’s stock worth $3,600,000 after buying an additional 15,981 shares during the period. Finally, Prospera Financial Services Inc bought a new stake in shares of Artesian Resources in the 2nd quarter valued at about $2,034,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.