MDU Resources Group, Inc. (NYSE:MDU) Stake Lowered by Covestor Ltd

Covestor Ltd trimmed its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 26.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,928 shares of the utilities provider’s stock after selling 1,061 shares during the quarter. Covestor Ltd’s holdings in MDU Resources Group were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDU. Vanguard Group Inc. lifted its stake in MDU Resources Group by 16.6% in the fourth quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider’s stock valued at $414,414,000 after buying an additional 3,276,114 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MDU Resources Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,719,543 shares of the utilities provider’s stock worth $101,978,000 after acquiring an additional 65,433 shares during the period. Pertento Partners LLP lifted its position in MDU Resources Group by 90.3% in the 4th quarter. Pertento Partners LLP now owns 2,990,144 shares of the utilities provider’s stock valued at $53,882,000 after purchasing an additional 1,419,118 shares during the last quarter. Norges Bank acquired a new position in MDU Resources Group during the 4th quarter valued at about $40,857,000. Finally, Charles Schwab Investment Management Inc. grew its position in MDU Resources Group by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,179,357 shares of the utilities provider’s stock worth $39,272,000 after purchasing an additional 96,889 shares during the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Trading Up 1.0 %

MDU Resources Group stock opened at $16.67 on Tuesday. MDU Resources Group, Inc. has a 12-month low of $12.99 and a 12-month high of $20.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The stock has a market capitalization of $3.41 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68. The firm has a 50 day simple moving average of $16.69 and a 200-day simple moving average of $19.47.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. As a group, equities research analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, March 13th. MDU Resources Group’s dividend payout ratio (DPR) is presently 37.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDU. StockNews.com cut MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Jefferies Financial Group initiated coverage on MDU Resources Group in a research note on Wednesday, January 8th. They set a “hold” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.00.

Insider Buying and Selling at MDU Resources Group

In related news, Director Dennis W. Johnson purchased 30,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were bought at an average price of $16.64 per share, with a total value of $499,200.00. Following the completion of the acquisition, the director now owns 180,166 shares of the company’s stock, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

About MDU Resources Group

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.