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

JPMorgan Chase & Co. grew its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 32.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 855,493 shares of the utilities provider’s stock after buying an additional 209,042 shares during the period. JPMorgan Chase & Co. owned 0.42% of MDU Resources Group worth $23,449,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MDU. Barrow Hanley Mewhinney & Strauss LLC increased its position in MDU Resources Group by 40.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock valued at $151,813,000 after acquiring an additional 1,756,530 shares during the period. American Century Companies Inc. increased its holdings in shares of MDU Resources Group by 30.7% in the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock valued at $104,371,000 after purchasing an additional 977,487 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of MDU Resources Group during the second quarter worth approximately $24,372,000. Dimensional Fund Advisors LP lifted its holdings in shares of MDU Resources Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after purchasing an additional 563,424 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of MDU Resources Group by 36.6% during the second quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock worth $43,824,000 after purchasing an additional 467,465 shares during the period. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Price Performance

MDU Resources Group stock opened at $18.04 on Thursday. The company has a market cap 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. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52. The business has a fifty day moving average of $18.69 and a two-hundred day moving average of $23.66. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. During the same quarter last year, the business earned $0.29 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts predict that MDU Resources Group, Inc. will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

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

Analyst Upgrades and Downgrades

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

MDU Resources Group 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.