Artesian Resources (ARTNA) Expected to Announce Quarterly Earnings on Wednesday

Artesian Resources (NASDAQ:ARTNA) will likely be announcing its results before the market opens on Wednesday, March 11th. Analysts expect the company to announce earnings of $0.37 per share and revenue of $28.00 million for the quarter.

Artesian Resources Trading Up 0.0%

Shares of Artesian Resources stock opened at $33.73 on Monday. Artesian Resources has a 12-month low of $30.50 and a 12-month high of $36.19. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $33.07 and its 200-day moving average is $32.64. The stock has a market cap of $347.76 million, a P/E ratio of 15.40 and a beta of 0.36.

Artesian Resources Announces Dividend

The company also recently declared 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 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 currently 57.08%.

Hedge Funds Weigh In On Artesian Resources

Several large investors have recently modified their holdings of ARTNA. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Artesian Resources during the 2nd quarter worth about $5,034,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Artesian Resources in the 3rd quarter valued at about $3,048,000. Wells Fargo & Company MN raised its holdings in Artesian Resources by 452.0% in the 4th quarter. Wells Fargo & Company MN now owns 38,525 shares of the utilities provider’s stock valued at $1,218,000 after acquiring an additional 31,546 shares during the period. UBS Group AG raised its holdings in Artesian Resources by 53.3% in the 3rd quarter. UBS Group AG now owns 65,413 shares of the utilities provider’s stock valued at $2,132,000 after acquiring an additional 22,730 shares during the period. Finally, Jane Street Group LLC lifted its position 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 acquiring an additional 21,127 shares during the last quarter. 57.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ARTNA shares. Zacks Research raised shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Artesian Resources in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.