176,910 Shares in Artesian Resources Co. (NASDAQ:ARTNA) Purchased by Millennium Management LLC

Millennium Management LLC purchased a new stake in Artesian Resources Co. (NASDAQ:ARTNA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 176,910 shares of the utilities provider’s stock, valued at approximately $6,220,000. Millennium Management LLC owned 1.72% of Artesian Resources as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ARTNA. Vanguard Group Inc. increased its stake in Artesian Resources by 2.8% during the first quarter. Vanguard Group Inc. now owns 545,615 shares of the utilities provider’s stock worth $20,248,000 after purchasing an additional 14,668 shares during the period. ProShare Advisors LLC raised its stake in shares of Artesian Resources by 22.1% in the first quarter. ProShare Advisors LLC now owns 216,731 shares of the utilities provider’s stock valued at $8,043,000 after acquiring an additional 39,234 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Artesian Resources in the second quarter valued at $539,000. Price T Rowe Associates Inc. MD grew its stake in Artesian Resources by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,447 shares of the utilities provider’s stock worth $351,000 after purchasing an additional 382 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Artesian Resources by 5.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,081 shares of the utilities provider’s stock valued at $448,000 after purchasing an additional 678 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Artesian Resources Stock Performance

Shares of Artesian Resources stock opened at $35.41 on Friday. The business has a 50-day simple moving average of $36.69 and a 200-day simple moving average of $36.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.09 and a current ratio of 1.30. Artesian Resources Co. has a one year low of $33.34 and a one year high of $44.78. The company has a market cap of $364.30 million, a PE ratio of 20.83 and a beta of 0.19.

Artesian Resources (NASDAQ:ARTNA) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.02). The firm had revenue of $27.42 million for the quarter, compared to analysts’ expectations of $27.00 million. Artesian Resources had a return on equity of 7.90% and a net margin of 17.74%. On average, equities research analysts forecast that Artesian Resources Co. will post 1.92 EPS for the current fiscal year.

Artesian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Friday, August 16th were issued a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, August 16th. Artesian Resources’s dividend payout ratio (DPR) is 69.41%.

About Artesian Resources

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. 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 collection, treatment infrastructure, and wastewater services to customers in Delaware.