Covestor Ltd grew its stake in shares of MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 186.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,033 shares of the utilities provider’s stock after buying an additional 7,178 shares during the period. Covestor Ltd’s holdings in MDU Resources Group were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. New Mexico Educational Retirement Board raised its position in shares of MDU Resources Group by 15.0% during the first quarter. New Mexico Educational Retirement Board now owns 36,800 shares of the utilities provider’s stock valued at $1,122,000 after buying an additional 4,800 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in MDU Resources Group by 36.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 14,908 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 3,977 shares during the last quarter. Exchange Traded Concepts LLC increased its position in MDU Resources Group by 41.2% in the second quarter. Exchange Traded Concepts LLC now owns 29,858 shares of the utilities provider’s stock worth $625,000 after purchasing an additional 8,709 shares during the last quarter. First Republic Investment Management Inc. increased its position in MDU Resources Group by 5.2% in the first quarter. First Republic Investment Management Inc. now owns 136,100 shares of the utilities provider’s stock worth $4,148,000 after purchasing an additional 6,784 shares during the last quarter. Finally, Stockman Wealth Management Inc. increased its position in MDU Resources Group by 0.6% in the first quarter. Stockman Wealth Management Inc. now owns 243,450 shares of the utilities provider’s stock worth $7,420,000 after purchasing an additional 1,377 shares during the last quarter. Institutional investors own 71.24% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on shares of MDU Resources Group in a research note on Thursday, October 5th. They set a “hold” rating for the company.
MDU Resources Group Trading Up 0.6 %
NYSE MDU traded up $0.11 on Tuesday, hitting $18.64. 428,265 shares of the stock were exchanged, compared to its average volume of 1,536,304. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.22 and a current ratio of 1.29. The stock has a fifty day moving average price of $19.11 and a two-hundred day moving average price of $21.37. The firm has a market capitalization of $3.80 billion, a P/E ratio of 10.46, a P/E/G ratio of 2.39 and a beta of 0.79. MDU Resources Group, Inc. has a 52-week low of $18.04 and a 52-week high of $22.55.
MDU Resources Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.68%. The ex-dividend date is Wednesday, December 13th. MDU Resources Group’s payout ratio is 28.25%.
MDU Resources Group Company Profile
MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, 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 84 transmission and 294 distribution substations.
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