Blue Trust Inc. Purchases 2,067 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Blue Trust Inc. grew its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 238.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,935 shares of the utilities provider’s stock after buying an additional 2,067 shares during the quarter. Blue Trust Inc.’s holdings in MDU Resources Group were worth $74,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its holdings in MDU Resources Group by 29.2% during the 1st 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 during the period. Russell Investments Group Ltd. raised its position in MDU Resources Group by 17.0% during 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. Meeder Asset Management Inc. boosted its holdings 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 acquiring an additional 19,916 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of MDU Resources Group in the second quarter worth $2,198,000. Finally, Resolute Capital Asset Partners LLC purchased a new position in shares of MDU Resources Group during the second quarter worth $2,008,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

MDU Resources Group Trading Down 0.9 %

Shares of MDU stock opened at $28.92 on Thursday. The company has a 50-day moving average of $27.12 and a two-hundred day moving average of $25.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. MDU Resources Group, Inc. has a 1-year low of $18.04 and a 1-year high of $30.52. The firm has a market cap of $5.90 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.11. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. On average, analysts predict that MDU Resources Group, Inc. will post 1.57 EPS for the current year.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were given a dividend of $0.13 per share. This is a boost 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%. The ex-dividend date was Thursday, September 12th. MDU Resources Group’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

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

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.