Louisiana State Employees Retirement System Has $1.55 Million Position in MDU Resources Group, Inc. (NYSE:MDU)

Louisiana State Employees Retirement System lessened its stake in MDU Resources Group, Inc. (NYSE:MDU) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,500 shares of the utilities provider’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in MDU Resources Group were worth $1,549,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its position in shares of 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 valued at $7,062,000 after buying an additional 63,403 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of MDU Resources Group by 17.0% in the 1st quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock valued at $10,121,000 after buying an additional 58,220 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of MDU Resources Group by 58.2% in the 1st quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock valued at $1,364,000 after buying an additional 19,916 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MDU Resources Group in the 2nd quarter valued at about $2,198,000. Finally, Resolute Capital Asset Partners LLC bought a new stake in shares of MDU Resources Group in the 2nd quarter valued at about $2,008,000. Institutional investors own 71.44% of the company’s stock.

Analysts Set New Price Targets

MDU has been the topic of a number of analyst reports. Bank of America reiterated a “neutral” rating and issued a $31.00 price target (up previously from $30.00) on shares of MDU Resources Group in a research report on Monday, October 21st. StockNews.com assumed coverage on MDU Resources Group in a research report on Monday. They set a “hold” rating on the stock.

MDU Resources Group Stock Down 0.2 %

Shares of MDU Resources Group stock opened at $28.86 on Friday. MDU Resources Group, Inc. has a one year low of $18.04 and a one year high of $30.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. The stock’s 50-day moving average is $27.21 and its 200 day moving average is $25.85. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.71 and a beta of 0.77.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. Equities research analysts anticipate that MDU Resources Group, Inc. will post 1.57 EPS for the current year.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 1.80%. MDU Resources Group’s dividend payout ratio is 22.22%.

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.