Artesian Resources Corporation (NASDAQ:ARTNA) Plans Quarterly Dividend of $0.32

Artesian Resources Corporation (NASDAQ:ARTNA) announced a quarterly dividend on Thursday, August 6th. Investors of record on Monday, August 17th will be given a dividend of 0.3199 per share by the utilities provider on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 17th.

Artesian Resources has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Artesian Resources has a payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings.

Artesian Resources Price Performance

Shares of ARTNA stock traded up $0.35 on Friday, reaching $34.75. The company’s stock had a trading volume of 10,833 shares, compared to its average volume of 48,263. The company has a market capitalization of $358.62 million, a P/E ratio of 15.37 and a beta of 0.33. Artesian Resources has a 12-month low of $30.50 and a 12-month high of $35.49. The stock’s 50 day simple moving average is $33.52 and its 200-day simple moving average is $32.93. 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 (NASDAQ:ARTNA) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $30.66 million during the quarter, compared to analysts’ expectations of $29.80 million. Artesian Resources had a return on equity of 9.61% and a net margin of 20.86%.

Hedge Funds Weigh In On Artesian Resources

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its holdings in shares of Artesian Resources by 985.2% in the 1st quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider’s stock valued at $89,000 after buying an additional 2,463 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Artesian Resources by 10.6% in the first quarter. Goldman Sachs Group Inc. now owns 72,289 shares of the utilities provider’s stock valued at $2,360,000 after purchasing an additional 6,956 shares during the period. Jane Street Group LLC lifted its position in Artesian Resources by 129.0% during the first quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider’s stock worth $1,225,000 after buying an additional 21,127 shares in the last quarter. Creative Planning acquired a new stake in Artesian Resources in the 2nd quarter valued at approximately $267,000. Finally, American Century Companies Inc. increased its position in shares of Artesian Resources by 19.2% during the second quarter. American Century Companies Inc. now owns 22,501 shares of the utilities provider’s stock worth $755,000 after acquiring an additional 3,631 shares during the period. 57.37% of the stock is owned by hedge funds and other 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.