Franklin Resources Inc. Has $119.04 Million Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Franklin Resources Inc. grew its position in shares of MDU Resources Group, Inc. (NYSE:MDUGet Rating) by 99.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,410,444 shares of the utilities provider’s stock after purchasing an additional 2,199,575 shares during the quarter. Franklin Resources Inc.’s holdings in MDU Resources Group were worth $119,038,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Securian Asset Management Inc. boosted its stake in shares of MDU Resources Group by 2.1% during the second quarter. Securian Asset Management Inc. now owns 18,538 shares of the utilities provider’s stock valued at $500,000 after purchasing an additional 384 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of MDU Resources Group by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 21,123 shares of the utilities provider’s stock valued at $570,000 after purchasing an additional 484 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of MDU Resources Group by 0.9% during the first quarter. Arizona State Retirement System now owns 54,969 shares of the utilities provider’s stock valued at $1,465,000 after purchasing an additional 485 shares in the last quarter. Chase Investment Counsel Corp boosted its stake in shares of MDU Resources Group by 4.1% during the second quarter. Chase Investment Counsel Corp now owns 12,786 shares of the utilities provider’s stock valued at $345,000 after purchasing an additional 500 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in shares of MDU Resources Group by 0.4% during the first quarter. Eaton Vance Management now owns 116,518 shares of the utilities provider’s stock valued at $3,105,000 after purchasing an additional 507 shares in the last quarter. 71.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MDU shares. StockNews.com assumed coverage on MDU Resources Group in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup raised their price objective on MDU Resources Group to $31.00 in a research report on Monday, August 15th. Finally, Bank of America downgraded MDU Resources Group from a “neutral” rating to an “underperform” rating in a research report on Monday, October 24th.

MDU Resources Group Price Performance

Shares of MDU opened at $31.10 on Thursday. MDU Resources Group, Inc. has a 1 year low of $24.92 and a 1 year high of $32.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.38 and a quick ratio of 1.11. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.72. The business has a 50-day moving average of $28.81 and a 200-day moving average of $28.36.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 8th will be given a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, December 7th. MDU Resources Group’s dividend payout ratio (DPR) is 52.41%.

MDU Resources Group Company Profile

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MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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