State of New Jersey Common Pension Fund D Raises Position in MDU Resources Group, Inc. (NYSE:MDU)

State of New Jersey Common Pension Fund D lifted its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,589 shares of the utilities provider’s stock after buying an additional 3,535 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MDU Resources Group were worth $2,154,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of MDU Resources Group during the 3rd quarter valued at approximately $40,000. Hudson Value Partners LLC raised its stake in shares of MDU Resources Group by 3.5% in the 3rd quarter. Hudson Value Partners LLC now owns 212,815 shares of the utilities provider’s stock valued at $5,833,000 after purchasing an additional 7,292 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new position in shares of MDU Resources Group during the third quarter worth about $6,351,000. Catalyst Capital Advisors LLC lifted its position in shares of MDU Resources Group by 3.5% during the third quarter. Catalyst Capital Advisors LLC now owns 89,010 shares of the utilities provider’s stock worth $2,440,000 after purchasing an additional 3,000 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in MDU Resources Group by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 23,585 shares of the utilities provider’s stock worth $646,000 after purchasing an additional 1,605 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

MDU Resources Group Trading Down 2.0 %

Shares of NYSE:MDU opened at $17.90 on Friday. MDU Resources Group, Inc. has a fifty-two week low of $14.91 and a fifty-two week high of $30.52. 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 company has a market cap of $3.65 billion, a PE ratio of 9.28, a P/E/G ratio of 2.33 and a beta of 0.76. The company’s 50-day moving average price is $25.73 and its 200 day moving average price is $25.42.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (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 business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $969.17 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.91%. MDU Resources Group’s payout ratio is 26.67%.

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.