Zacks Investment Research upgraded shares of Artesian Resources Corporation (NASDAQ:ARTNA) from a sell rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “
Separately, BidaskClub cut shares of Artesian Resources Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th.
Shares of Artesian Resources Corporation (ARTNA) opened at 37.01 on Tuesday. The stock’s 50 day moving average is $37.40 and its 200-day moving average is $36.81. Artesian Resources Corporation has a one year low of $26.72 and a one year high of $41.90. The company has a market cap of $340.05 million, a P/E ratio of 25.35 and a beta of 0.10.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 14th were paid a dividend of $0.2317 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.93 annualized dividend and a yield of 2.50%. Artesian Resources Corporation’s dividend payout ratio is currently 63.27%.
Large investors have recently modified their holdings of the stock. Water Asset Management LLC grew its stake in Artesian Resources Corporation by 899.1% during the first quarter. Water Asset Management LLC now owns 86,871 shares of the utilities provider’s stock valued at $2,829,000 after acquiring an additional 78,176 shares in the last quarter. Strs Ohio grew its stake in Artesian Resources Corporation by 5.9% during the second quarter. Strs Ohio now owns 9,000 shares of the utilities provider’s stock valued at $338,000 after acquiring an additional 500 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Artesian Resources Corporation by 56.5% during the second quarter. Janney Montgomery Scott LLC now owns 22,008 shares of the utilities provider’s stock valued at $828,000 after acquiring an additional 7,942 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in Artesian Resources Corporation by 29.3% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 74,911 shares of the utilities provider’s stock valued at $2,820,000 after acquiring an additional 16,968 shares in the last quarter. Finally, FCA Corp TX grew its stake in Artesian Resources Corporation by 1.5% during the second quarter. FCA Corp TX now owns 82,774 shares of the utilities provider’s stock valued at $3,116,000 after acquiring an additional 1,210 shares in the last quarter. 39.87% of the stock is owned by institutional investors.
Artesian Resources Corporation Company Profile
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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