MDU Resources Group, Inc. (NYSE:MDU) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. grew its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 203.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,308 shares of the utilities provider’s stock after acquiring an additional 155,062 shares during the quarter. Prudential Financial Inc. owned about 0.11% of MDU Resources Group worth $4,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Friedenthal Financial purchased a new stake in MDU Resources Group during the 4th quarter worth approximately $778,000. Assenagon Asset Management S.A. lifted its stake in shares of MDU Resources Group by 42.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider’s stock worth $2,089,000 after buying an additional 34,409 shares during the period. Cascade Investment Advisors Inc. grew its holdings in shares of MDU Resources Group by 21.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 81,626 shares of the utilities provider’s stock valued at $1,471,000 after buying an additional 14,360 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of MDU Resources Group by 32.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider’s stock valued at $23,449,000 after acquiring an additional 209,042 shares during the period. Finally, Advisors Preferred LLC purchased a new position in MDU Resources Group in the 4th quarter worth $5,691,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDU has been the topic of a number of research reports. StockNews.com lowered MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Jefferies Financial Group initiated coverage on shares of MDU Resources Group in a report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, MDU Resources Group currently has an average rating of “Hold” and an average target price of $21.00.

MDU Resources Group Stock Performance

Shares of MDU stock opened at $16.92 on Wednesday. MDU Resources Group, Inc. has a 52-week low of $12.99 and a 52-week high of $20.39. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3.46 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. The business has a 50-day simple moving average of $17.05 and a 200-day simple moving average of $20.26.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. On average, equities analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were issued a $0.13 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 3.07%. MDU Resources Group’s payout ratio is 37.68%.

Insiders Place Their Bets

In other MDU Resources Group news, Director Dennis W. Johnson acquired 30,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the acquisition, the director now owns 180,166 shares in the company, valued at approximately $2,997,962.24. This trade represents a 19.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

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.