Artesian Resources (NASDAQ:ARTNA) Stock Crosses Above 200-Day Moving Average of $36.56

Artesian Resources Co. (NASDAQ:ARTNA) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $36.56 and traded as high as $36.73. Artesian Resources shares last traded at $36.13, with a volume of 34,951 shares trading hands.

Artesian Resources Stock Up 3.1 %

The firm has a market cap of $371.71 million, a P/E ratio of 21.25 and a beta of 0.19. The firm’s 50-day moving average price is $37.39 and its 200 day moving average price is $36.56. The company has a quick ratio of 1.20, a current ratio of 1.42 and a debt-to-equity ratio of 0.77.

Artesian Resources (NASDAQ:ARTNA) last posted its earnings results on Monday, August 5th. The utilities provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.02). The firm had revenue of $27.42 million during the quarter, compared to the consensus estimate of $27.00 million. Artesian Resources had a return on equity of 7.57% and a net margin of 17.25%. As a group, research analysts expect that Artesian Resources Co. will post 1.99 earnings per share for the current year.

Artesian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Friday, August 16th will be given a dividend of $0.296 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.18 dividend on an annualized basis and a yield of 3.28%. Artesian Resources’s dividend payout ratio (DPR) is presently 69.41%.

Hedge Funds Weigh In On Artesian Resources

Several large investors have recently bought and sold shares of ARTNA. Lazard Asset Management LLC bought a new position in shares of Artesian Resources in the first quarter valued at approximately $41,000. Tower Research Capital LLC TRC lifted its position in Artesian Resources by 454.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,010 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 828 shares during the period. Quest Partners LLC bought a new position in Artesian Resources during the 2nd quarter valued at $42,000. Point72 DIFC Ltd acquired a new position in shares of Artesian Resources during the 2nd quarter valued at $50,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Artesian Resources in the 4th quarter worth $93,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.