Geode Capital Management LLC Boosts Stake in MDU Resources Group, Inc. (NYSE:MDU)

Geode Capital Management LLC raised its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,719,543 shares of the utilities provider’s stock after acquiring an additional 65,433 shares during the period. Geode Capital Management LLC’s holdings in MDU Resources Group were worth $101,978,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MDU. Dimensional Fund Advisors LP raised its stake in MDU Resources Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock valued at $188,049,000 after purchasing an additional 563,424 shares in the last quarter. State Street Corp raised its position in shares of MDU Resources Group by 1.8% during the 3rd quarter. State Street Corp now owns 6,344,185 shares of the utilities provider’s stock valued at $174,713,000 after buying an additional 114,719 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of MDU Resources Group by 40.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock valued at $151,813,000 after buying an additional 1,756,530 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of MDU Resources Group by 30.7% during the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock worth $104,371,000 after acquiring an additional 977,487 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in MDU Resources Group by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock worth $57,080,000 after acquiring an additional 101,955 shares in the last quarter. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Stock Performance

MDU Resources Group stock opened at $17.62 on Thursday. The firm has a fifty day simple moving average of $21.97 and a two-hundred day simple moving average of $24.37. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52. The company has a market capitalization of $3.59 billion, a PE ratio of 9.04, a P/E/G ratio of 2.46 and a beta of 0.79.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. Research analysts expect that MDU Resources Group, Inc. will post 1.13 EPS for the current year.

MDU Resources Group Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group’s dividend payout ratio (DPR) is presently 26.67%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MDU shares. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, November 4th. StockNews.com initiated coverage on MDU Resources Group in a report on Wednesday. They set a “hold” rating on the stock. Finally, Bank of America raised MDU Resources Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th.

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 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.