10 Worst Performing Utilities Stocks to Buy According to Analysts

3) Artesian Resources Corporation (NASDAQ:ARTNA)

% Decline Over Past Year: ~10.4%

Average Upside Potential: ~44.5%

Number of Hedge Fund Holders: 9

Artesian Resources Corporation (NASDAQ:ARTNA) provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. In Q3 2024, the company’s revenues came in at $29.1 million, representing a 9.7% growth compared to the revenues for 3 months ending September 30, 2023. Artesian Resources Corporation (NASDAQ:ARTNA)’s water sales revenue rose $2.5 million, or 11.3%, mainly because of a temporary rate increase of 14.6% of gross water sales placed into effect on November 28, 2023, as per Delaware law. Overall, the increase in water sales revenues was aided by new customers served, increased customer consumption, and the resolution of its Delaware water rate case.

As part of Artesian Resources Corporation (NASDAQ:ARTNA)’s ongoing effort to ensure high-quality reliable service, $30.9 million was invested in water and wastewater infrastructure projects during the first 9 months of 2024. With states making significant investments towards the modernization of water infrastructure because of aging pipelines and the requirement for sustainable water management, Artesian Resources Corporation (NASDAQ:ARTNA) continues to expand water and wastewater infrastructure, making it well-placed for such industry trends. With the broader utilities sector experiencing growth, the company is expected to reap benefits stemming from infrastructure investments, M&A opportunities, and regulatory incentives.