MQS Management LLC Buys Shares of 20,072 MDU Resources Group, Inc. (NYSE:MDU)

MQS Management LLC bought a new position in MDU Resources Group, Inc. (NYSE:MDU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,072 shares of the utilities provider’s stock, valued at approximately $550,000.

Several other institutional investors and hedge funds have also modified their holdings of MDU. State Board of Administration of Florida Retirement System increased its position in MDU Resources Group by 29.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock worth $7,062,000 after purchasing an additional 63,403 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in MDU Resources Group during the third quarter valued at approximately $2,234,000. Russell Investments Group Ltd. grew its position in MDU Resources Group by 17.0% in the first quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock worth $10,121,000 after acquiring an additional 58,220 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of MDU Resources Group during the 2nd quarter worth $2,198,000. Finally, Resolute Capital Asset Partners LLC bought a new position in shares of MDU Resources Group during the 2nd quarter valued at $2,008,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

MDU Resources Group Trading Up 1.4 %

MDU Resources Group stock opened at $18.27 on Thursday. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. The firm has a market capitalization of $3.72 billion, a PE ratio of 9.36, a PEG ratio of 2.33 and a beta of 0.76. The business’s 50-day simple moving average is $25.87 and its 200-day simple moving average is $25.47.

MDU Resources Group (NYSE:MDU) last issued 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. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $969.17 million. During the same period in the previous year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were issued a $12.875 dividend. The ex-dividend date was Friday, November 1st. MDU Resources Group’s dividend payout ratio (DPR) is presently 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.