Artesian Resources (NASDAQ:ARTNA) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Artesian Resources Corporation (NASDAQ:ARTNA) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $32.35 and traded as high as $33.00. Artesian Resources shares last traded at $32.52, with a volume of 17,217 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Artesian Resources Stock Up 0.2%

The company has a market cap of $341.18 million, a PE ratio of 14.63 and a beta of 0.34. The stock’s 50 day moving average price is $32.22 and its 200-day moving average price is $32.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.01.

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

Artesian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.3199 dividend. This is a boost from Artesian Resources’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, May 15th. Artesian Resources’s dividend payout ratio (DPR) is presently 56.64%.

Institutional Investors Weigh In On Artesian Resources

Several large investors have recently modified their holdings of ARTNA. Teton Advisors LLC acquired a new stake in shares of Artesian Resources during the 3rd quarter worth approximately $1,021,000. Prospera Financial Services Inc boosted its holdings in shares of Artesian Resources by 93.9% during the 3rd quarter. Prospera Financial Services Inc now owns 117,493 shares of the utilities provider’s stock worth $3,830,000 after purchasing an additional 56,890 shares during the last quarter. Roffman Miller Associates Inc. PA boosted its holdings in shares of Artesian Resources by 16.4% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 137,337 shares of the utilities provider’s stock worth $4,341,000 after purchasing an additional 19,342 shares during the last quarter. R Squared Ltd acquired a new position in shares of Artesian Resources during the 3rd quarter valued at about $485,000. Finally, 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 valued at $10,336,000 after buying an additional 326,902 shares during the last quarter. Institutional investors 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.