ProShare Advisors LLC raised its holdings in MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 40.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,573,762 shares of the utilities provider’s stock after acquiring an additional 453,610 shares during the period. ProShare Advisors LLC’s holdings in MDU Resources Group were worth $32,955,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MDU. Norges Bank purchased a new stake in MDU Resources Group in the fourth quarter valued at approximately $61,385,000. State Street Corp increased its holdings in shares of MDU Resources Group by 12.5% in the 1st quarter. State Street Corp now owns 15,468,160 shares of the utilities provider’s stock worth $415,454,000 after buying an additional 1,716,930 shares during the last quarter. FMR LLC raised its position in shares of MDU Resources Group by 32.9% during the 1st quarter. FMR LLC now owns 3,301,805 shares of the utilities provider’s stock valued at $100,639,000 after buying an additional 817,621 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of MDU Resources Group by 275.4% during the 4th quarter. Millennium Management LLC now owns 997,934 shares of the utilities provider’s stock worth $30,277,000 after acquiring an additional 732,104 shares during the last quarter. Finally, Invesco Ltd. grew its position in MDU Resources Group by 55.2% in the first quarter. Invesco Ltd. now owns 1,852,604 shares of the utilities provider’s stock worth $49,372,000 after acquiring an additional 659,078 shares in the last quarter. Institutional investors own 71.24% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on MDU Resources Group in a research report on Thursday, October 5th. They set a “hold” rating on the stock.
MDU Resources Group Stock Performance
Shares of NYSE MDU opened at $18.52 on Tuesday. The stock’s 50-day moving average is $19.11 and its 200 day moving average is $21.37. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 2.39 and a beta of 0.79. MDU Resources Group, Inc. has a 1-year low of $18.04 and a 1-year high of $22.55. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 0.83.
MDU Resources Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, December 13th. MDU Resources Group’s dividend payout ratio (DPR) is presently 28.25%.
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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