State of Alaska Department of Revenue Has $2.09 Million Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

State of Alaska Department of Revenue grew its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 391.3% during the 4th quarter, Holdings Channel reports. The firm owned 115,874 shares of the utilities provider’s stock after buying an additional 92,289 shares during the period. State of Alaska Department of Revenue’s holdings in MDU Resources Group were worth $2,088,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of MDU Resources Group during the 3rd quarter worth approximately $2,234,000. Foundry Partners LLC acquired a new position in shares of MDU Resources Group during the 3rd quarter worth approximately $4,594,000. Friedenthal Financial acquired a new position in shares of MDU Resources Group during the 4th quarter worth approximately $778,000. Charles Schwab Investment Management Inc. increased its position in shares of MDU Resources Group by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock worth $57,080,000 after purchasing an additional 101,955 shares during the last quarter. Finally, Cascade Investment Advisors Inc. increased its position in shares of MDU Resources Group by 21.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 81,626 shares of the utilities provider’s stock worth $1,471,000 after purchasing an additional 14,360 shares during the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com lowered MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Friday. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Monday, November 4th. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on MDU Resources Group in a research note on Wednesday, January 8th. They set a “hold” rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

MDU Resources Group Stock Performance

Shares of NYSE MDU opened at $16.46 on Tuesday. The stock has a 50 day moving average of $18.26 and a 200-day moving average of $22.48. The company has a market capitalization of $3.35 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.61 and a beta of 0.80. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. As a group, equities research analysts predict that MDU Resources Group, Inc. will post 0.95 EPS for the current year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Thursday, December 12th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.52 annualized dividend and a yield of 3.16%. MDU Resources Group’s dividend payout ratio (DPR) is presently 37.68%.

Insider Activity at MDU Resources Group

In related news, Director Dennis W. Johnson bought 30,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $16.64 per share, for a total transaction of $499,200.00. Following the transaction, the director now owns 180,166 shares in the company, valued at $2,997,962.24. The trade was a 19.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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 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.