PNC Financial Services Group Inc. Reduces Holdings in MDU Resources Group, Inc. (NYSE:MDU)

PNC Financial Services Group Inc. reduced its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 31.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,242 shares of the utilities provider’s stock after selling 29,188 shares during the period. PNC Financial Services Group Inc.’s holdings in MDU Resources Group were worth $1,733,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDU. BOKF NA increased its stake in shares of MDU Resources Group by 4.1% during the 1st quarter. BOKF NA now owns 14,794 shares of the utilities provider’s stock valued at $377,000 after acquiring an additional 579 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in MDU Resources Group by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,492 shares of the utilities provider’s stock worth $2,432,000 after purchasing an additional 6,237 shares in the last quarter. Bayesian Capital Management LP purchased a new position in MDU Resources Group in the first quarter valued at approximately $571,000. Aurora Investment Counsel increased its position in shares of MDU Resources Group by 18.1% in the first quarter. Aurora Investment Counsel now owns 82,052 shares of the utilities provider’s stock worth $2,068,000 after acquiring an additional 12,588 shares in the last quarter. Finally, CWM LLC raised its stake in shares of MDU Resources Group by 39.9% in the 2nd quarter. CWM LLC now owns 34,707 shares of the utilities provider’s stock valued at $871,000 after acquiring an additional 9,899 shares during the period. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

MDU has been the subject of a number of research reports. StockNews.com assumed coverage on shares of MDU Resources Group in a research report on Tuesday, November 5th. They set a “hold” rating for the company. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Monday, November 4th. Finally, Bank of America raised MDU Resources Group from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th.

MDU Resources Group Stock Performance

Shares of MDU stock opened at $20.16 on Wednesday. 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 company’s fifty day moving average price is $24.54 and its two-hundred day moving average price is $25.04. The firm has a market capitalization of $4.11 billion, a P/E ratio of 10.34, a P/E/G ratio of 2.58 and a beta of 0.76. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. On average, research analysts anticipate that MDU Resources Group, Inc. will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group’s dividend payout ratio (DPR) is currently 26.67%.

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.