Fmr LLC Sells 2,187,028 Shares of MDU Resources Group, Inc. (NYSE:MDU)

FMR LLC decreased its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 29.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,243,737 shares of the utilities provider's stock after selling 2,187,028 shares during the quarter. FMR LLC owned approximately 2.57% of MDU Resources Group worth $143,731,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Algert Global LLC lifted its holdings in shares of 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 buying an additional 231,530 shares in the last quarter. Cerity Partners LLC grew its position in MDU Resources Group by 5.9% in the third quarter. Cerity Partners LLC now owns 57,472 shares of the utilities provider's stock valued at $1,575,000 after acquiring an additional 3,177 shares during the last quarter. Citigroup Inc. grew its position in MDU Resources Group by 464.9% in the third quarter. Citigroup Inc. now owns 149,060 shares of the utilities provider's stock valued at $4,086,000 after acquiring an additional 122,671 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of MDU Resources Group by 5.1% during the third 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, Foundry Partners LLC bought a new stake in shares of MDU Resources Group during the third quarter worth about $4,594,000. Institutional investors and hedge funds own 71.44% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on MDU Resources Group in a report on Tuesday, November 5th. They set a "hold" rating on the stock. Siebert Williams Shank raised MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a research note on Monday, November 4th. Finally, Bank of America raised MDU Resources Group from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th.

MDU Resources Group Trading Down 0.5 %

MDU traded down $0.09 during trading on Wednesday, hitting $19.77. The company's stock had a trading volume of 1,371,235 shares, compared to its average volume of 1,622,257. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock's fifty day moving average price is $23.68 and its 200-day moving average price is $24.82. The firm has a market capitalization of $4.03 billion, a P/E ratio of 10.14, a PEG ratio of 2.60 and a beta of 0.79.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $969.17 million. During the same period in the prior year, the firm earned $0.29 earnings per share. MDU Resources Group's revenue for the quarter was up 5.0% on a year-over-year basis. Analysts anticipate that MDU Resources Group, Inc. will post 1.13 EPS for the current year.

MDU Resources Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.52 annualized dividend and a yield of 2.63%. MDU Resources Group's dividend payout ratio (DPR) is currently 26.67%.

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.