MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 77,578 shares of the utilities provider’s stock after selling 5,259 shares during the quarter. Dakota Wealth Management’s holdings in MDU Resources Group were worth $2,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in MDU Resources Group during the third quarter worth approximately $25,000. Atlas Capital Advisors LLC acquired a new stake in shares of MDU Resources Group during the second quarter worth $27,000. Northwestern Mutual Wealth Management Co. grew its position in shares of MDU Resources Group by 23.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. increased its stake in MDU Resources Group by 238.1% in the third quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 2,067 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in MDU Resources Group during the second quarter worth about $163,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. StockNews.com began coverage on MDU Resources Group in a report on Sunday, October 20th. They issued a “hold” rating for the company. Bank of America restated a “neutral” rating and issued a $31.00 target price (up from $30.00) on shares of MDU Resources Group in a report on Monday, October 21st.

MDU Resources Group Price Performance

MDU stock opened at $28.78 on Friday. The company has a market cap of $5.87 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $26.85 and a two-hundred day moving average price of $25.73. MDU Resources Group, Inc. has a 12-month low of $18.04 and a 12-month high of $30.52.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, research analysts predict that MDU Resources Group, Inc. will post 1.57 EPS for the current year.

MDU Resources Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, September 12th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio (DPR) is currently 26.00%.

MDU Resources Group Profile

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.