Artesian Resources (NASDAQ:ARTNA) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Artesian Resources (NASDAQ:ARTNA) issued its earnings results on Tuesday. The utilities provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09, Zacks reports. Artesian Resources had a return on equity of 9.52% and a net margin of 20.76%.

Artesian Resources Stock Up 0.4%

ARTNA traded up $0.12 during trading on Tuesday, reaching $31.41. 30,196 shares of the stock traded hands, compared to its average volume of 57,884. The stock has a market cap of $324.09 million, a price-to-earnings ratio of 14.15 and a beta of 0.33. Artesian Resources has a fifty-two week low of $30.50 and a fifty-two week high of $35.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.64 and a quick ratio of 0.52. The stock’s 50-day simple moving average is $32.48 and its two-hundred day simple moving average is $32.46.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARTNA shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Artesian Resources in a research report on Wednesday, January 21st. Zacks Research raised Artesian Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Hedge Funds Weigh In On Artesian Resources

Several institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd raised its holdings in Artesian Resources by 7.0% during the fourth quarter. Quadrature Capital Ltd now owns 10,326 shares of the utilities provider’s stock valued at $326,000 after buying an additional 679 shares in the last quarter. Millennium Management LLC raised its holdings in Artesian Resources by 4.7% during the fourth quarter. Millennium Management LLC now owns 41,743 shares of the utilities provider’s stock valued at $1,319,000 after buying an additional 1,891 shares in the last quarter. Trexquant Investment LP raised its holdings in Artesian Resources by 56.5% during the fourth quarter. Trexquant Investment LP now owns 35,579 shares of the utilities provider’s stock valued at $1,125,000 after buying an additional 12,852 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Artesian Resources by 11.6% during the fourth quarter. Russell Investments Group Ltd. now owns 61,035 shares of the utilities provider’s stock valued at $1,929,000 after buying an additional 6,360 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Artesian Resources by 9.0% during the fourth quarter. Royal Bank of Canada now owns 5,813 shares of the utilities provider’s stock valued at $183,000 after buying an additional 480 shares in the last quarter. 57.37% of the stock is currently 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.