MDU Resources Group, Inc. $MDU Stock Holdings Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 44.2% in the third quarter, Holdings Channel.com reports. The firm owned 41,938 shares of the utilities provider’s stock after selling 33,266 shares during the quarter. State of Alaska Department of Revenue’s holdings in MDU Resources Group were worth $777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDU. BlackRock Inc. acquired a new stake in MDU Resources Group in the second quarter valued at approximately $580,127,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of MDU Resources Group during the second quarter worth $276,933,000. Dimensional Fund Advisors LP grew its stake in shares of MDU Resources Group by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 10,285,747 shares of the utilities provider’s stock worth $213,120,000 after buying an additional 253,950 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of MDU Resources Group during the second quarter worth $129,159,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of MDU Resources Group during the second quarter worth $49,435,000. Institutional investors own 71.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDU. Weiss Ratings cut MDU Resources Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Wells Fargo & Company began coverage on MDU Resources Group in a report on Monday, July 13th. They set an “overweight” rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded MDU Resources Group from a “neutral” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.75.

MDU Resources Group Stock Performance

Shares of MDU stock opened at $19.37 on Friday. The stock has a market capitalization of $3.96 billion, a PE ratio of 20.34, a PEG ratio of 3.53 and a beta of 0.66. The business’s 50 day simple moving average is $19.24 and its 200 day simple moving average is $20.62. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.99 and a quick ratio of 0.95. MDU Resources Group, Inc. has a one year low of $18.24 and a one year high of $22.98.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $375.30 million during the quarter, compared to analyst estimates of $396.56 million. MDU Resources Group had a net margin of 10.75% and a return on equity of 6.89%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. MDU Resources Group has set its FY 2026 guidance at 0.930-1.000 EPS. As a group, research analysts forecast that MDU Resources Group, Inc. will post 0.98 earnings per share for the current year.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were given a dividend of $0.1450 per share. This represents a $0.58 annualized dividend and a dividend yield of 3.0%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, September 10th. MDU Resources Group’s dividend payout ratio is currently 61.05%.

MDU Resources Group Profile

MDU Resources Group, Inc is a regulated energy delivery company headquartered in Bismarck, North Dakota. Through its utility and pipeline businesses, the company provides electric and natural gas services to residential, commercial, industrial and institutional customers.

Montana-Dakota Utilities operates electric generation, transmission and distribution systems, as well as natural gas distribution networks, across parts of North Dakota, South Dakota, Montana and Wyoming. Great Plains Natural Gas provides natural gas service in portions of Minnesota.