Separately, ValuEngine upgraded shares of Artesian Resources from a hold rating to a buy rating in a research report on Saturday, May 18th.
Artesian Resources stock opened at $35.51 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.24 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $329.53 million, a PE ratio of 24.03 and a beta of 0.09. The firm has a fifty day simple moving average of $35.93 and a two-hundred day simple moving average of $36.84. Artesian Resources has a twelve month low of $32.27 and a twelve month high of $40.97.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.246 dividend. This is a boost from Artesian Resources’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, August 8th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.77%.
Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of Artesian Resources by 106.3% during the fourth quarter. Bank of America Corp DE now owns 17,643 shares of the utilities provider’s stock worth $615,000 after purchasing an additional 9,090 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Artesian Resources by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 270,179 shares of the utilities provider’s stock worth $9,421,000 after purchasing an additional 1,518 shares during the period. Foundry Partners LLC acquired a new stake in shares of Artesian Resources during the first quarter worth $1,371,000. BNP Paribas Arbitrage SA grew its stake in shares of Artesian Resources by 508.4% during the first quarter. BNP Paribas Arbitrage SA now owns 1,661 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 1,388 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Artesian Resources during the first quarter worth $261,000. Hedge funds and other institutional investors own 42.66% of the company’s stock.
Artesian Resources Company Profile
Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services on the Delmarva Peninsula. 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 services to customers in Delaware.
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