MDU Resources Group, Inc. (MDU) Stake Lessened by D.A. Davidson & CO.
D.A. Davidson & CO. decreased its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,370 shares of the utilities provider’s stock after selling 3,041 shares during the period. D.A. Davidson & CO.’s holdings in MDU Resources Group were worth $1,177,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Griffin Asset Management Inc. bought a new position in shares of MDU Resources Group in the 2nd quarter valued at $215,000. Northwestern Mutual Investment Management Company LLC grew its position in MDU Resources Group by 771.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 293,329 shares of the utilities provider’s stock worth $7,040,000 after acquiring an additional 259,672 shares during the last quarter. Peregrine Asset Advisers Inc. bought a new stake in MDU Resources Group during the 2nd quarter worth $4,271,000. BNP Paribas Arbitrage SA grew its position in MDU Resources Group by 61.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 83,323 shares of the utilities provider’s stock worth $2,183,000 after acquiring an additional 31,701 shares during the last quarter. Finally, Arizona State Retirement System grew its position in MDU Resources Group by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 82,300 shares of the utilities provider’s stock worth $2,156,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors own 63.93% of the company’s stock.
MDU has been the topic of a number of research reports. KeyCorp restated a “buy” rating and set a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, October 20th. Zacks Investment Research upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, BidaskClub upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. MDU Resources Group presently has a consensus rating of “Hold” and a consensus target price of $30.75.
Shares of MDU Resources Group, Inc. (MDU) opened at $27.01 on Friday. The firm has a market capitalization of $5,275.16, a price-to-earnings ratio of 22.70, a P/E/G ratio of 2.83 and a beta of 0.92. MDU Resources Group, Inc. has a 52-week low of $25.14 and a 52-week high of $29.92. The company has a current ratio of 1.28, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The firm had revenue of $1.27 billion for the quarter. MDU Resources Group had a return on equity of 10.20% and a net margin of 5.39%. During the same quarter in the prior year, the company earned $0.45 EPS. analysts forecast that MDU Resources Group, Inc. will post 1.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Thursday, December 14th will be given a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Wednesday, December 13th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.19. MDU Resources Group’s payout ratio is 65.25%.
MDU Resources Group Company Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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