Foster & Motley Inc. Sells 2,689 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Foster & Motley Inc. cut its stake in MDU Resources Group, Inc. (NYSE:MDU) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,093 shares of the utilities provider’s stock after selling 2,689 shares during the quarter. Foster & Motley Inc.’s holdings in MDU Resources Group were worth $614,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hennessy Advisors Inc. increased its stake in MDU Resources Group by 1,098.5% in the fourth quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider’s stock valued at $38,833,000 after purchasing an additional 1,975,200 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new stake in MDU Resources Group during the 3rd quarter worth $6,351,000. Algert Global LLC lifted its holdings in MDU Resources Group by 453.6% during the third quarter. Algert Global LLC now owns 282,573 shares of the utilities provider’s stock worth $7,745,000 after acquiring an additional 231,530 shares in the last quarter. Needham Investment Management LLC grew its stake in MDU Resources Group by 98.8% in the third quarter. Needham Investment Management LLC now owns 427,500 shares of the utilities provider’s stock valued at $11,718,000 after acquiring an additional 212,500 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of MDU Resources Group by 32.3% in the third quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider’s stock worth $23,449,000 after acquiring an additional 209,042 shares in the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Price Performance

NYSE MDU opened at $17.83 on Friday. MDU Resources Group, Inc. has a 12-month low of $14.91 and a 12-month high of $30.52. The firm’s 50 day moving average is $18.57 and its 200-day moving average is $22.90. The company has a market capitalization of $3.63 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. Equities research analysts anticipate that MDU Resources Group, Inc. will post 1.09 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, December 12th. MDU Resources Group’s dividend payout ratio is currently 26.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com began coverage on MDU Resources Group in a report on Friday, January 3rd. They set a “hold” rating on the stock. Jefferies Financial Group started coverage on shares of MDU Resources Group in a report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 price target for the company. Siebert Williams Shank upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Monday, November 4th. Finally, Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and cut their price objective for the company from $31.00 to $17.00 in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, MDU Resources Group presently 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.