Release date 04-09-2017 Page 1 of 3

Morningstar Analyst Rating

Artesian Resources Corp Class A ARTNA

Last Price Day Change Open Price Day Range 52-Week Range Proj. Yield Market Cap Volume Avg Vol. Forward P/E P/B P/S P/CF

$ 35.70 ]1.71 | 5.03 % $ 33.90 33.77-36.84 26.02-36.84 2.56 326.04 mil 53,303 19,792 30.25 2.35 4.14 11

Stock Price 2017-01-02 - 2017-04-07 Dividends

XNAS:ARTNA: 3.76|11.77% Declared Date 11/01/2017
45.00
Ex-Dividend Date 08/02/2017
30.00 Latest Indicated Dividend Amount 0.23
Projected Yield 2.56 %
15.00

Recent Dividends & Type Amount

Splits
02/08/2017 Cash Dividends 0.2283
2017 11/07/2016 Cash Dividends 0.2283
Morningstars Take 08/08/2016 Cash Dividends 0.2249
Fair Value Estimate $- 05/12/2016 Cash Dividends 0.2249
Consider Buying $-
Consider Selling $- Competitors
Fair Value Uncertainty Name Price % Chg TTM Sales
$ mil
Economic Moat
Stewardship Artesian Resources $35.70 5.03 ] 79
Corp Class A
Growth C Suez SA $15.99 1.46 ] 16,239
Profitability C Suez SA ADR $7.91 0.00 16,239
Morningstar Credit Rating - American Water Works $77.90 -0.05 [ 3,302
Co Inc
Key Stats United Utilities Group $25.24 -0.16 [ 2,139
PLC ADR
Stock Ind Avg Relative to Industry Guangdong Investment $74.71 -0.56 [ 1,262
Price/Earnings TTM 25.3 30.7 Ltd ADR
Price/Book 2.3 2.5
Price/Sales TTM 4.1 4.5 Recommendations
Rev Growth (3 Yr Avg) 4.6 -1.9 Current
Net Income Growth (3 Yr Avg) 16 -0.5 Total Analysts: 5.0 3.0 1.0
Operating Margin % TTM 34.3 30.6 Buy Hold Sell

Net Margin % TTM 16.4 15.1

ROA TTM 2.9 2.8
Ownership
ROE TTM 9.6 9.5
Fund Owners Star % Shares % Total
Debt/Equity 0.7 0.9 Rating Held Assets
- Avg +
DFA US Core Equity Class QQQ 0.01 0.00
F
Financials CC&L All Strategies 0.00 0.01
Annual Quarterly DFA US Vector Equity QQQQ 0.00 0.00
Class F
Income Statement 2016-12 2015-12 2014-12 2016-12 2015-12

Insiders % Change % Shares

TTM Outstanding
Dian C. Taylor 0 1.00
John R. Eisenbrey 1,002 0.51
John M. Thaeder 293 0.27
Kenneth R. Biederman -1,000 0.22
Balance Sheet
Joseph A. Dinunzio 16 0.16

Cash Flow

2017 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. Data as originally reported. The
information contained herein is not represented or warranted to be accurate, correct, complete, or timely. This report is for information purposes only, and should not be considered a solicitation to buy or sell any security.
Redistribution is prohibited without written permission. To order reprints, call +1 312-696-6100. To license the research, call +1 312-696-6869.
Release date 04-09-2017 Page 2 of 3

Morningstar Analyst Rating

Artesian Resources Corp Class A ARTNA

Last Price Day Change Open Price Day Range 52-Week Range Proj. Yield Market Cap Volume Avg Vol. Forward P/E P/B P/S P/CF

$ 35.70 ]1.71 | 5.03 % $ 33.90 33.77-36.84 26.02-36.84 2.56 326.04 mil 53,303 19,792 30.25 2.35 4.14 11

Financials
Annual Quarterly

In millions except "EPS". Currency in USD.

2017 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. Data as originally reported. The
information contained herein is not represented or warranted to be accurate, correct, complete, or timely. This report is for information purposes only, and should not be considered a solicitation to buy or sell any security.
Redistribution is prohibited without written permission. To order reprints, call +1 312-696-6100. To license the research, call +1 312-696-6869.
Release date 04-09-2017 Page 3 of 3

Artesian Resources Corp Class A ARTNA

Morningstar Rating TM
Quote Stock Type
Classic Growth
Last Close 07/04/2017
35.70
Fair Value Estimate
$

2017 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. Data as originally reported. The
information contained herein is not represented or warranted to be accurate, correct, complete, or timely. This report is for information purposes only, and should not be considered a solicitation to buy or sell any security.
Redistribution is prohibited without written permission. To order reprints, call +1 312-696-6100. To license the research, call +1 312-696-6869.