Artesian Resources (NASDAQ:ARTNA) Posts Earnings Results, Beats Expectations By $0.05 EPS

Artesian Resources (NASDAQ:ARTNA) posted its quarterly earnings data on Thursday. The utilities provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05, Zacks reports. Artesian Resources had a net margin of 20.86% and a return on equity of 9.61%.

Artesian Resources Stock Up 1.0%

Shares of NASDAQ ARTNA traded up $0.33 during trading hours on Thursday, hitting $34.40. The company had a trading volume of 18,443 shares, compared to its average volume of 31,538. The stock has a market capitalization of $355.01 million, a P/E ratio of 15.22 and a beta of 0.33. The company has a quick ratio of 0.89, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. Artesian Resources has a 1-year low of $30.50 and a 1-year high of $35.49. The firm’s 50 day moving average is $33.52 and its 200-day moving average is $32.93.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Artesian Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 17th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Artesian Resources presently has a consensus rating of “Hold”.

Institutional Trading of Artesian Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Artesian Resources in the third quarter valued at $38,000. Osaic Holdings Inc. increased its stake in shares of Artesian Resources by 44.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 503 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Artesian Resources by 985.2% during the 1st quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 2,463 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Artesian Resources by 422.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 3,005 shares during the period. Finally, Royal Bank of Canada lifted its stake in Artesian Resources by 9.0% in the 4th quarter. Royal Bank of Canada now owns 5,813 shares of the utilities provider’s stock valued at $183,000 after purchasing an additional 480 shares during the last quarter. 57.37% of the stock is owned by institutional investors.

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.