Artesian Resources (ARTNA) to Release Earnings on Thursday

Artesian Resources (NASDAQ:ARTNA) will be posting its quarterly earnings results on Thursday, March 7th.

Artesian Resources Stock Up 0.1 %

NASDAQ ARTNA traded up $0.05 during trading on Wednesday, hitting $35.82. The stock had a trading volume of 24,633 shares, compared to its average volume of 33,345. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.25. The company’s 50-day moving average price is $37.21 and its two-hundred day moving average price is $40.99. Artesian Resources has a 12 month low of $33.84 and a 12 month high of $58.41. The company has a market capitalization of $368.23 million, a PE ratio of 22.98 and a beta of 0.17.

Artesian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.16 annualized dividend and a dividend yield of 3.24%. Artesian Resources’s dividend payout ratio is 74.36%.

Analysts Set New Price Targets

Several research firms have recently commented on ARTNA. StockNews.com downgraded Artesian Resources from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. TheStreet cut Artesian Resources from a “b-” rating to a “c+” rating in a research report on Monday, February 5th.

Insider Transactions at Artesian Resources

In other news, SVP Nicholle Renee Taylor sold 4,750 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $42.82, for a total value of $203,395.00. Following the transaction, the senior vice president now directly owns 23,948 shares in the company, valued at $1,025,453.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Artesian Resources news, SVP John M. Thaeder sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $43.81, for a total transaction of $109,525.00. Following the sale, the senior vice president now directly owns 23,592 shares of the company’s stock, valued at $1,033,565.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nicholle Renee Taylor sold 4,750 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $42.82, for a total value of $203,395.00. Following the sale, the senior vice president now directly owns 23,948 shares in the company, valued at $1,025,453.36. The disclosure for this sale can be found here. Company insiders own 20.59% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its position in shares of Artesian Resources by 124.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 405,776 shares of the utilities provider’s stock valued at $23,771,000 after acquiring an additional 224,669 shares during the period. BlackRock Inc. lifted its stake in Artesian Resources by 17.3% in the 1st quarter. BlackRock Inc. now owns 779,501 shares of the utilities provider’s stock valued at $37,845,000 after buying an additional 115,061 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Artesian Resources by 53.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 190,623 shares of the utilities provider’s stock valued at $9,373,000 after buying an additional 66,776 shares in the last quarter. LPL Financial LLC acquired a new stake in Artesian Resources in the 1st quarter valued at about $2,241,000. Finally, First Trust Advisors LP acquired a new stake in Artesian Resources in the 3rd quarter valued at about $964,000. Hedge funds and other institutional investors own 53.20% 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.