Principal Financial Group Inc. lifted its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 0.9% during the first quarter, HoldingsChannel reports. The firm owned 804,598 shares of the utilities provider’s stock after purchasing an additional 7,285 shares during the quarter. Principal Financial Group Inc.’s holdings in MDU Resources Group were worth $24,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the business. Thrivent Financial for Lutherans raised its stake in shares of MDU Resources Group by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 54,535 shares of the utilities provider’s stock worth $1,655,000 after purchasing an additional 345 shares during the period. Profund Advisors LLC raised its stake in shares of MDU Resources Group by 5.0% during the 4th quarter. Profund Advisors LLC now owns 8,431 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 403 shares during the period. Huntington National Bank raised its stake in shares of MDU Resources Group by 3.4% during the 4th quarter. Huntington National Bank now owns 12,575 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 416 shares during the period. Signaturefd LLC raised its stake in shares of MDU Resources Group by 67.5% during the 1st quarter. Signaturefd LLC now owns 1,134 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 457 shares during the period. Finally, Eaton Vance Management raised its stake in shares of MDU Resources Group by 0.4% during the 1st quarter. Eaton Vance Management now owns 116,518 shares of the utilities provider’s stock worth $3,105,000 after purchasing an additional 507 shares during the period. 69.63% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MDU has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on MDU Resources Group in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Bank of America upgraded MDU Resources Group from an “underperform” rating to a “buy” rating in a research note on Thursday, June 1st.
MDU Resources Group Trading Up 0.3 %
Shares of MDU Resources Group stock opened at $20.10 on Wednesday. MDU Resources Group, Inc. has a 52-week low of $18.47 and a 52-week high of $22.55. The stock’s 50-day simple moving average is $21.15 and its 200 day simple moving average is $26.26. The stock has a market capitalization of $4.09 billion, a P/E ratio of 9.43, a P/E/G ratio of 2.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.31 and a current ratio of 1.37.
MDU Resources Group (NYSE:MDU – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter. MDU Resources Group had a return on equity of 11.50% and a net margin of 6.51%. The business had revenue of $1.09 billion for the quarter. As a group, research analysts anticipate that MDU Resources Group, Inc. will post 1.33 EPS for the current year.
MDU Resources Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Thursday, September 14th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, September 13th. MDU Resources Group’s dividend payout ratio is currently 41.78%.
MDU Resources Group Company Profile
MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, 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 84 transmission and 294 distribution substations.
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