Portolan Capital Management LLC Purchases 183,274 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Portolan Capital Management LLC boosted its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 69.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 445,288 shares of the utilities provider’s stock after purchasing an additional 183,274 shares during the period. Portolan Capital Management LLC owned about 0.22% of MDU Resources Group worth $12,205,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of MDU Resources Group in the third quarter worth about $25,000. Atlas Capital Advisors LLC bought a new position in shares of MDU Resources Group in the second quarter worth about $27,000. Venturi Wealth Management LLC raised its stake in shares of MDU Resources Group by 158.9% in 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 bought a new position in shares of MDU Resources Group in the third quarter worth about $40,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of MDU Resources Group by 23.9% in the second 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 last quarter. 71.44% of the stock is owned by institutional investors.

MDU Resources Group Stock Performance

Shares of MDU stock opened at $19.86 on Wednesday. The stock has a market cap of $4.05 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The company has a fifty day moving average price of $23.84 and a two-hundred day moving average price of $24.85. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. As a group, equities analysts predict that MDU Resources Group, Inc. will post 1.13 EPS 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. Shareholders of record on Thursday, December 12th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group’s dividend payout ratio is currently 26.67%.

Analysts Set New Price Targets

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

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.