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

Shares of 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 $32.34 and traded as high as $32.76. Artesian Resources shares last traded at $32.52, with a volume of 38,967 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Artesian Resources presently has a consensus rating of “Hold”.

Artesian Resources Stock Down 0.2%

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

Artesian Resources (NASDAQ:ARTNA) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $0.57 EPS for the quarter, beating 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 business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $27.00 million.

Artesian Resources Increases Dividend

The company also recently disclosed 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 is a boost from Artesian Resources’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, May 15th. Artesian Resources’s payout ratio is currently 56.64%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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. boosted its stake in Artesian Resources by 344,107.4% in the 4th 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 grew its position in Artesian Resources by 15.1% during the 1st quarter. Renaissance Technologies LLC now owns 320,456 shares of the utilities provider’s stock worth $10,207,000 after purchasing an additional 42,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Artesian Resources by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 189,917 shares of the utilities provider’s stock worth $6,049,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its stake in 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 hedge funds and other institutional investors.

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.