Artesian Resources Corporation (NASDAQ:ARTNA) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Zacks has also given Artesian Resources an industry rank of 126 out of 265 based on the ratings given to its competitors.

A number of research analysts have recently commented on the company. BidaskClub downgraded Artesian Resources from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded Artesian Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th.

In related news, Director Kenneth R. Biederman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $39.05, for a total value of $78,100.00. Following the completion of the sale, the director now directly owns 21,875 shares in the company, valued at $854,218.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 20.59% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Artesian Resources by 1.0% in the second quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock worth $13,906,000 after purchasing an additional 3,541 shares during the period. Renaissance Technologies LLC increased its stake in Artesian Resources by 6.6% in the first quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock worth $9,205,000 after purchasing an additional 17,400 shares during the period. Dimensional Fund Advisors LP increased its stake in Artesian Resources by 9.5% in the third quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock worth $8,997,000 after purchasing an additional 20,661 shares during the period. State Street Corp increased its stake in Artesian Resources by 5.0% in the second quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock worth $6,819,000 after purchasing an additional 8,679 shares during the period. Finally, WFG Advisors LP increased its stake in Artesian Resources by 9.4% in the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock worth $5,421,000 after purchasing an additional 12,399 shares during the period. Institutional investors and hedge funds own 40.01% of the company’s stock.

Artesian Resources (NASDAQ:ARTNA) traded up $0.14 during midday trading on Monday, hitting $40.81. The stock had a trading volume of 14,729 shares, compared to its average volume of 20,688. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market cap of $373.84, a P/E ratio of 28.84 and a beta of 0.09. Artesian Resources has a 52-week low of $29.36 and a 52-week high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $22.36 million for the quarter. Artesian Resources had a net margin of 15.96% and a return on equity of 9.18%. equities analysts expect that Artesian Resources will post 1.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 13th were given a $0.2352 dividend. The ex-dividend date was Friday, November 10th. This is an increase from Artesian Resources’s previous quarterly dividend of $0.23. This represents a $0.94 dividend on an annualized basis and a yield of 2.31%. Artesian Resources’s dividend payout ratio (DPR) is currently 66.67%.

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About Artesian Resources

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

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