State of New Jersey Common Pension Fund D Cuts Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

State of New Jersey Common Pension Fund D trimmed its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 43.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,054 shares of the utilities provider’s stock after selling 56,588 shares during the period. State of New Jersey Common Pension Fund D’s holdings in MDU Resources Group were worth $1,884,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MDU. Atlas Capital Advisors LLC acquired a new position in MDU Resources Group in the 2nd quarter valued at $27,000. TFO Wealth Partners LLC raised its position in shares of MDU Resources Group by 16,070.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,617 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,607 shares during the last quarter. Tompkins Financial Corp lifted its stake in shares of MDU Resources Group by 22.2% in the first quarter. Tompkins Financial Corp now owns 4,404 shares of the utilities provider’s stock worth $111,000 after buying an additional 800 shares in the last quarter. Mendota Financial Group LLC boosted its position in MDU Resources Group by 32.9% during the first quarter. Mendota Financial Group LLC now owns 5,920 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 1,465 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in MDU Resources Group by 129.3% during the fourth quarter. Jones Financial Companies Lllp now owns 8,977 shares of the utilities provider’s stock worth $178,000 after acquiring an additional 5,062 shares during the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

MDU Resources Group Trading Up 2.5 %

Shares of MDU Resources Group stock opened at $27.28 on Monday. The stock has a market cap of $5.56 billion, a P/E ratio of 11.66, a P/E/G ratio of 2.70 and a beta of 0.77. The stock’s 50 day simple moving average is $25.64 and its 200-day simple moving average is $24.96. MDU Resources Group, Inc. has a 1-year low of $18.04 and a 1-year high of $27.78. 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 (NYSE:MDU) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 EPS. Analysts predict that MDU Resources Group, Inc. will post 1.55 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be issued a $0.13 dividend. The ex-dividend date is Thursday, September 12th. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. MDU Resources Group’s dividend payout ratio is currently 22.22%.

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.