New Mexico Educational Retirement Board boosted its position in MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,800 shares of the utilities provider’s stock after acquiring an additional 4,800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in MDU Resources Group were worth $1,122,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. CI Investments Inc. raised its holdings in MDU Resources Group by 19.3% in the fourth quarter. CI Investments Inc. now owns 13,692 shares of the utilities provider’s stock valued at $415,000 after acquiring an additional 2,219 shares in the last quarter. Bank of Nova Scotia raised its holdings in MDU Resources Group by 46.0% during the fourth quarter. Bank of Nova Scotia now owns 354,376 shares of the utilities provider’s stock worth $10,752,000 after purchasing an additional 111,732 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MDU Resources Group by 10.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,099 shares of the utilities provider’s stock worth $883,000 after purchasing an additional 2,838 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in MDU Resources Group during the fourth quarter worth approximately $162,000. Finally, ARGI Investment Services LLC raised its holdings in MDU Resources Group by 14.8% during the fourth quarter. ARGI Investment Services LLC now owns 49,561 shares of the utilities provider’s stock worth $1,504,000 after purchasing an additional 6,399 shares in the last quarter. Institutional investors and hedge funds own 69.63% of the company’s stock.
MDU Resources Group Stock Performance
Shares of MDU opened at $21.99 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77. The firm has a market cap of $4.48 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75. The company’s 50 day simple moving average is $22.35 and its 200-day simple moving average is $27.45. MDU Resources Group, Inc. has a 12-month low of $18.47 and a 12-month high of $22.55.
MDU Resources Group (NYSE:MDU – Get Free Report) last announced its earnings results on Thursday, May 4th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. MDU Resources Group had a net margin of 5.13% and a return on equity of 11.25%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm posted $0.16 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, equities analysts predict that MDU Resources Group, Inc. will post 1.3 EPS for the current year.
MDU Resources Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Tuesday, June 13th were given a $0.2225 dividend. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.89 dividend on an annualized basis and a yield of 4.05%. MDU Resources Group’s dividend payout ratio (DPR) is 48.37%.
Analysts Set New Price Targets
A number of research firms have weighed in on MDU. Bank of America raised shares of MDU Resources Group from an “underperform” rating to a “buy” rating in a report on Thursday, June 1st. StockNews.com began coverage on shares of MDU Resources Group in a report on Thursday. They set a “hold” rating on the stock.
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 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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