TIAA CREF Investment Management LLC decreased its holdings in MDU Resources Group Inc (NYSE:MDU) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 581,631 shares of the utilities provider’s stock after selling 17,935 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.30% of MDU Resources Group worth $15,634,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of MDU. Prudential Financial Inc. grew its stake in shares of MDU Resources Group by 55.0% in the third quarter. Prudential Financial Inc. now owns 2,072,325 shares of the utilities provider’s stock worth $53,776,000 after purchasing an additional 735,440 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of MDU Resources Group by 52.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,545,228 shares of the utilities provider’s stock worth $41,536,000 after purchasing an additional 531,704 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of MDU Resources Group in the fourth quarter worth $7,646,000. Citadel Advisors LLC grew its stake in shares of MDU Resources Group by 10.9% in the fourth quarter. Citadel Advisors LLC now owns 1,748,899 shares of the utilities provider’s stock worth $47,010,000 after purchasing an additional 172,500 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of MDU Resources Group by 97.9% in the fourth quarter. Deutsche Bank AG now owns 342,600 shares of the utilities provider’s stock worth $9,206,000 after purchasing an additional 169,492 shares during the last quarter. 64.03% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on MDU. Williams Capital reduced their price objective on shares of MDU Resources Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. ValuEngine raised shares of MDU Resources Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, February 13th. Finally, KeyCorp restated a “buy” rating and issued a $29.50 target price on shares of MDU Resources Group in a report on Friday, December 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.17.
MDU Resources Group (NYSE:MDU) last released its earnings results on Wednesday, February 7th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.17 billion for the quarter. MDU Resources Group had a net margin of 6.33% and a return on equity of 10.46%. MDU Resources Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. equities analysts anticipate that MDU Resources Group Inc will post 1.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Thursday, March 8th were issued a $0.1975 dividend. The ex-dividend date was Wednesday, March 7th. This represents a $0.79 annualized dividend and a yield of 2.81%. MDU Resources Group’s payout ratio is 63.20%.
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MDU Resources Group Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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