Ashton Thomas Private Wealth LLC Lowers Position in MDU Resources Group, Inc. (NYSE:MDU)

Ashton Thomas Private Wealth LLC decreased its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 11.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,111 shares of the utilities provider’s stock after selling 1,922 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in MDU Resources Group were worth $414,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of MDU Resources Group by 29.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock worth $7,062,000 after purchasing an additional 63,403 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in MDU Resources Group in the 3rd quarter worth approximately $2,234,000. Russell Investments Group Ltd. increased its holdings 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 worth $10,121,000 after buying an additional 58,220 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of MDU Resources Group during the 2nd quarter valued at $2,198,000. Finally, Resolute Capital Asset Partners LLC bought a new stake in shares of MDU Resources Group during the 2nd quarter worth $2,008,000. 71.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MDU. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, November 4th. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th. Finally, StockNews.com began coverage on shares of MDU Resources Group in a research report on Tuesday, November 5th. They set a “hold” rating on the stock.

MDU Resources Group Stock Down 2.0 %

Shares of NYSE:MDU opened at $17.90 on Friday. The stock has a market capitalization of $3.65 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 2.33 and a beta of 0.76. The stock’s 50-day moving average price is $25.73 and its 200-day moving average price is $25.42. 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, Inc. has a 12-month low of $14.91 and a 12-month high of $30.52.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $969.17 million. During the same period last year, the company earned $0.29 EPS. MDU Resources Group’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.91%. MDU Resources Group’s dividend payout ratio is currently 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.