MDU Resources Group, Inc. (NYSE:MDU) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in MDU Resources Group, Inc. (NYSE:MDU) by 32.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 855,493 shares of the utilities provider’s stock after purchasing an additional 209,042 shares during the quarter. JPMorgan Chase & Co.’s holdings in MDU Resources Group were worth $23,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MDU. V Square Quantitative Management LLC acquired a new stake in shares of MDU Resources Group during the 3rd quarter worth about $25,000. Venturi Wealth Management LLC boosted its position in MDU Resources Group by 158.9% during the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 734 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in MDU Resources Group during the third quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. grew its stake in MDU Resources Group by 23.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 413 shares during the period. Finally, Blue Trust Inc. raised its holdings in MDU Resources Group by 238.1% in the 3rd quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock valued at $74,000 after acquiring an additional 2,067 shares during the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on MDU Resources Group in a report on Wednesday. They set a “hold” rating and a $18.00 price objective on the stock. 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. StockNews.com initiated coverage on shares of MDU Resources Group in a research note on Friday, January 3rd. They set a “hold” rating for the company. Finally, Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

MDU Resources Group Trading Up 0.2 %

Shares of MDU opened at $18.04 on Thursday. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52. The firm has a market capitalization of $3.68 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 2.44 and a beta of 0.81. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $18.69 and its 200 day simple moving average is $23.66.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. On average, equities research analysts forecast that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 2.88%. MDU Resources Group’s dividend payout ratio (DPR) is 26.67%.

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.