Citigroup Inc. Purchases 122,671 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Citigroup Inc. increased its position in MDU Resources Group, Inc. (NYSE:MDU) by 464.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 149,060 shares of the utilities provider’s stock after buying an additional 122,671 shares during the quarter. Citigroup Inc.’s holdings in MDU Resources Group were worth $4,086,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in MDU Resources Group by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,492 shares of the utilities provider’s stock valued at $2,432,000 after purchasing an additional 6,237 shares during the last quarter. CWM LLC grew its stake in MDU Resources Group by 39.9% in the second quarter. CWM LLC now owns 34,707 shares of the utilities provider’s stock worth $871,000 after purchasing an additional 9,899 shares during the period. Simplicity Wealth LLC grew its stake in MDU Resources Group by 12.3% in the second quarter. Simplicity Wealth LLC now owns 168,395 shares of the utilities provider’s stock worth $4,227,000 after purchasing an additional 18,463 shares during the period. Register Financial Advisors LLC grew its stake in MDU Resources Group by 10.2% in the second quarter. Register Financial Advisors LLC now owns 155,203 shares of the utilities provider’s stock worth $3,896,000 after purchasing an additional 14,421 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in MDU Resources Group in the second quarter worth $2,198,000. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Trading Down 1.3 %

NYSE MDU opened at $19.86 on Wednesday. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52. The stock has a market cap of $4.05 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.60 and a beta of 0.79. The stock’s fifty day moving average price is $23.84 and its 200-day moving average price is $24.85. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $969.17 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that MDU Resources Group, Inc. will post 1.13 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.52 annualized dividend and a dividend yield of 2.62%. MDU Resources Group’s dividend payout ratio (DPR) is presently 26.67%.

Wall Street Analysts Forecast Growth

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

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 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.