Mdu Resources Group Inc (NYSE:MDU) was the recipient of a significant decrease in short interest during the month of November. As of November 29th, there was short interest totalling 2,040,000 shares, a decrease of 12.8% from the November 14th total of 2,340,000 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 1,000,000 shares, the short-interest ratio is currently 2.0 days.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Mdu Resources Group by 12.2% during the 2nd quarter. BlackRock Inc. now owns 21,236,316 shares of the utilities provider’s stock worth $547,896,000 after acquiring an additional 2,312,808 shares in the last quarter. First Trust Advisors LP grew its holdings in Mdu Resources Group by 1.1% during the 3rd quarter. First Trust Advisors LP now owns 3,368,079 shares of the utilities provider’s stock worth $94,946,000 after acquiring an additional 37,588 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Mdu Resources Group by 8.8% during the 2nd quarter. Acadian Asset Management LLC now owns 2,816,533 shares of the utilities provider’s stock worth $72,667,000 after acquiring an additional 228,815 shares in the last quarter. Invesco Ltd. grew its holdings in Mdu Resources Group by 12.0% during the 2nd quarter. Invesco Ltd. now owns 2,378,956 shares of the utilities provider’s stock worth $61,377,000 after acquiring an additional 255,195 shares in the last quarter. Finally, Parnassus Investments CA grew its holdings in Mdu Resources Group by 8.4% during the 3rd quarter. Parnassus Investments CA now owns 2,244,209 shares of the utilities provider’s stock worth $63,264,000 after acquiring an additional 173,831 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.
Separately, Williams Capital upped their price target on shares of Mdu Resources Group from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 16th.
Mdu Resources Group stock traded up $0.05 during midday trading on Friday, hitting $28.90. 1,154,412 shares of the company’s stock were exchanged, compared to its average volume of 890,581. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.14 and a current ratio of 1.41. Mdu Resources Group has a 12 month low of $22.73 and a 12 month high of $29.65. The firm has a 50-day moving average of $28.91 and a two-hundred day moving average of $27.23. The company has a market cap of $5.78 billion, a PE ratio of 18.03, a P/E/G ratio of 2.54 and a beta of 0.68.
Mdu Resources Group (NYSE:MDU) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.08. Mdu Resources Group had a net margin of 6.17% and a return on equity of 11.90%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.55 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts expect that Mdu Resources Group will post 1.6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 2.87%. This is a boost from Mdu Resources Group’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, December 11th. Mdu Resources Group’s dividend payout ratio is presently 60.14%.
About Mdu Resources Group
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.
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