Raymond James & Associates cut its stake in shares of MDU Resources Group Inc (NYSE:MDU) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,487 shares of the utilities provider’s stock after selling 3,290 shares during the period. Raymond James & Associates’ holdings in MDU Resources Group were worth $2,755,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. AMP Capital Investors Ltd increased its holdings in shares of MDU Resources Group by 108.0% during the third quarter. AMP Capital Investors Ltd now owns 47,463 shares of the utilities provider’s stock worth $1,232,000 after buying an additional 24,648 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of MDU Resources Group by 22.5% during the third quarter. Wells Fargo & Company MN now owns 628,289 shares of the utilities provider’s stock worth $16,305,000 after buying an additional 115,572 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of MDU Resources Group by 2.1% during the fourth quarter. Confluence Investment Management LLC now owns 564,020 shares of the utilities provider’s stock worth $15,161,000 after buying an additional 11,844 shares in the last quarter. John G Ullman & Associates Inc. increased its holdings in MDU Resources Group by 9.2% in the fourth quarter. John G Ullman & Associates Inc. now owns 277,491 shares of the utilities provider’s stock valued at $7,459,000 after purchasing an additional 23,484 shares during the period. Finally, Convergence Investment Partners LLC increased its holdings in MDU Resources Group by 57.1% in the fourth quarter. Convergence Investment Partners LLC now owns 96,894 shares of the utilities provider’s stock valued at $2,605,000 after purchasing an additional 35,229 shares during the period. Institutional investors own 64.03% of the company’s stock.
A number of analysts recently weighed in on MDU shares. Williams Capital decreased their price objective on MDU Resources Group from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, February 8th. KeyCorp restated a “buy” rating and issued a $29.50 price objective on shares of MDU Resources Group in a report on Friday, December 15th. ValuEngine upgraded MDU Resources Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Zacks Investment Research upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $29.17.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Wednesday, February 7th. The utilities provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. The business had revenue of $1.17 billion during the quarter. MDU Resources Group had a return on equity of 10.46% and a net margin of 6.33%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. sell-side analysts anticipate that MDU Resources Group Inc will post 1.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Thursday, March 8th were issued a $0.1975 dividend. The ex-dividend date was Wednesday, March 7th. This represents a $0.79 dividend on an annualized basis and a yield of 2.83%. MDU Resources Group’s payout ratio is 63.20%.
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MDU Resources Group 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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